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Money managers under the microscope

Thaw continues at Polar

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Polar Capital, with co-founder Tim Woolley now at the helm again, delivered a solid set of numbers this morning, adding to growing evidence that clients are coming back to hedge funds, albeit slowly. RTR26D2G

REUTERS/Bob Strong

Having more than halved in the year to March, Polar’s assets edged upagain to $2 bln, from $1.9 billion at end-Sept and $1.5 bln in March.

Rising markets have undoubtedly helped. Performance and currency movements over the six months to Sept added $366 mln, much of which was from long-only funds.

But clients are also slowly putting their money back into funds — around $57 mln into long-only funds and $54 mln into hedge funds.

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