UK-listed investment firm Polar Capital, providing a mix of hedge funds and traditional portfolios, saw its assets under management increase 14 per cent to $13 billion in the third quarter, up from $11.4 billion at the end of September last year.

UK-listed investment firm Polar Capital, providing a mix of hedge funds and traditional portfolios, saw its assets under management increase 14 per cent to $13 billion in the third quarter, up from $11.4 billion at the end of September last year.

The majority of these inflows were in long only funds, with flows of $4.2 billion logged in net subscriptions and $1.8 billion in market movement and performance over the last nine months of the year.

The increase comes following the closure of its UK equity team last year, which resulted in a net outflow of $293 million.

"As we cautioned at the interim results, our net inflows for our third quarter, at just under $1 billion, were below the levels seen in the previous two quarters, although it was pleasing to see inflows continue across a wide range of strategies," the firm said.

The results also revealed that Polar Capital received £7.5 million in performance fees for the nine months to 31 December 2013, up £2.4 million from September 2013.

Since March last year, the firm has launched two funds including the long only Biotechnology UCITS fund, the Global Convertible fund, and raised £153 million in its Global Financials trust.

Looking ahead, Polar Capital said that if market conditions remained stable the firm remained well-positioned to grow assets further in 2014.