Polar Capital managed assets fall 22 percent
Friday, January 16, 2009 : PermalinkInternational Herald Tribune – Fund manager Polar Capital Holdings said on Friday that assets under management in the nine months to December fell by 22 percent to $2.45 billion (1.65 billion pounds), due to market deterioration.
The fund manager, which runs hedge funds and long-only funds, said it expects $500 million of redemptions in the three months to March.
The resignation of Julian Barnett, manager of its Paragon hedge fund, is expected to bring about a further $400 million outflows when the fund is wound up.
Tags: assets-under-management, barnett, capital holdings, deterioration, international-herald-tribune, julian, nine-months, paragon, redemptions, resignation, three months
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