Polar Capital, a £7.3 billion specialist asset management firm, says it is actively recruiting for more fund management teams to add to its 11-strong stable – despite suffering a difficult 12 months for fund flows, with assets down 10%.

Polar, which operates a revenue-sharing partnership model and is 35% owned by staff and directors, said on April 14 that "for the first time" it is raising its target number of teams from 10-12 to 12-15, "as a consequence of the further recruitment activity we now have in place".