Polar Capital's AUM dips on Japan outflows

Polar Capital has seen a drop in assets under management following significant outflows from its range of Japan funds.

The group's AUM fell from $13.2bn (£9bn) at the end of March 2014 to $12.3bn (£8.4bn) at the same time this year, mostly due to outflows from its Japan products. Its Japanese equity funds suffered a $2.3bn (£1.6bn) net outflow over the past six months, compared to $3bn of net inflows over the previous 12-month period. The group has attributed the outflows to "disappointing performance that has been exacerbated by the team's style bias, as well as uncertainty over the direction of the Japanese equity market". Elsewhere, the firm saw inflows of $300m across the remaining product rang...