Polar Capital raises assets under management
AIM-quoted investment management company Polar Capital Holdings reported on Thursday that its assets under management (AUM) had risen roughly 13% to £10.6bn over the three months leading to 30 September.
Polar said its receipts showed a "marked improvement on the position of twelve months ago," as net performance fees leapt to £9.6m from the £2.8m it announced a year earlier.
Coming off the back of its first time collecting more than £450m in net inflows, Polar recorded positive inflows of more than £350m in the quarter across a number of strategies, including its technology, healthcare, insurance, income opportunities and European income wings.
The group also launched a new automation and artificial intelligence fund during the period and said it continued to enjoy a strong balance sheet and capital position.
As of 1200 BST, shares had gained 1.30% to 495.88p.