UK fund firm Polar says client inflows hold up

Date: Thursday, April 15, 2010
Author: Reuters

British fund firm Polar Capital (POLR.L) on Thursday reported sustained net inflows of client money in its final quarter to end-March as demand for long-only funds held up in the face of fears of a market correction. The group had total assets under management (AuM) of $2.53 billion as of March 31, after clients put another $285 million into its hedge funds and long-only products. Performance gains and currency effects added another $76 million since end-2009.

AuM have grown by 71 percent in the 12 months to end-March, supported by net inflows of $663 million.

"The group continues to believe that the good long- and short-term performance of its funds places it in a good position to attract further inflows in the months and quarters ahead assuming market conditions remain favourable," it said.

"In the final quarter inflows have been greatest in the long-only funds managed by the group," it added.