Polar Capital managed assets fall 22 percent

International 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.

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