British fund manager Polar Capital has reported pre-tax profit of £15.3 million (US$24.05 million) for the year ended 31 March 2013, up 59.37% from £9.6 million (US$15.08 million) reported a year ago.
The group’s dividend for the year was up 44.4% to 13p a share, from 9p, including a second interim dividend of 11p a share.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The group, which boasts a number of specialist mandates including its Healthcare Opportunities fund, saw its assets soar 42% to US$7.2 billion from US$5.1 billion in the last year. In the subsequent period to May, assets rose yet higher to US$8.8 billion.
Polar said it saw inflows every quarter over the year, however it declined to break down inflows for each of its funds.
But those which sported the biggest gain in assets under management over the year included Polar’s North American fund, up 365% to US$637 million; its core Japan specialist, up 57% to US$2.4 billion; and a global insurance fund, up 38% to US$485 million, according to its results statement.
The group launched two new funds during the period; the Global Alpha Fund and the Japan Alpha Fund further diversifying the number of strategies offered to investors.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTom Bartlam, chairman of the group, said strong inflows into many funds and a sustained rise in equity markets had allowed the group to grow AUM so sharply in the last year.
However, he cautioned markets could well go through a period of consolidation having made such strong gains.
