Polar Capital sees assets swell 70%

Polar Capital's assets under management rose 71% to $2.5bn (£1.7bn) in the year to 31 March 2010.

The figure comprises $1.6bn in long only products, and $955m in hedge funds. Tim Woolley, the chief executive, says: "Our strong reputation, increasing assets under management and proven financial strength will increasingly be seen as an attractive destination for talented fund managers frustrated by the increasing bureacracy of the large organisations." He says Polar is on the hunt for investment teams, and plans to expand its product range. Technology sector investments, including Ben Rogoff's Technology trust, still account for the largest portion of Polar's assets, at $815m. ...