He says: “I was in my 50s by then, and I felt I had one more business building project left in me. The appeal of Polar was that it is quite similar to JO Hambro, it needed me to launch new products and find new fund managers.
"Some of the larger firms are closer to distribution businesses, distributing funds as much as they can, whereas Polar is a firm that is investment-led – all of the lead fund managers are partners and shareholders in the firm.”
Polar’s most recent set of accounts, which covered the year to the end of March 2022, showed a profit of £166mn – an increase of £15mn on the prior year.
Of that 2022 turnover, £14mn came from performance fees, compared with £43mn in the prior year.
As interest rates rise and markets fall, all asset managers struggle for profitability. Rochussen is adamant luck has played a role in his personal career progress to date – and amid market turmoil will be hoping it will hold into 2023 as he tries to grow the business.
David Thorpe is investment editor at FTAdviser
