Update: Ardevora AUM rises despite UK equity outflows

Three funds saw outflows

Ardevora reported a rise in assets under management for the year to 31 March 2018, as outflows from its UK Income fund were offset by a rise in AUM in its Global Long Only Equity fund.

AUM for the business rose to £4.79bn by 31 March 2018, up from £4.70bn the year before.  Three of the firm's four funds saw AUM decline during the 12-month period with the worst affected being the flagship UK Income fund, which saw assets fall from £208m in March 2017 to £63m amid negative sentiment to UK equities.  The Global Long Only Equity fund was the only mandate where assets increased, growing from £412m to £548m. Assets have continued to rise and are currently £627m as at December 2018, according to FE.  Both funds are managed by founder Jeremy Lang and partner William Pat...