Polar Capital grows AUM by 71% in 'extraordinary' year

Net inflows of £2.1bn

Polar Capital has increased its assets under management (AUM) by 71% during an “extraordinary” 12-month period that saw it make two acquisitions.

Over the 12 months to 31 March, the group has increased its AUM from £12.2bn to £20.9bn, with net inflows accounting for £2.1bn and acquisitions for another £1.7bn. The year saw it complete the acquisition of the international value and world value equity team from the Los Angeles-based asset manager First Pacific Advisors, as well as acquiring 100% of Dalton Capital. Pre-tax profits during the year increased by 49% to £75.9m, while core operating profit is up 24% to £51.5m. CEO Gavin Rochussen said: "The past year has been a challenging period for all, and I am exceptionally proud...