Losses totalling £2.4bn drive Polar Capital AUM down 14% in Q2

Open-ended funds took the biggest hit

Valeria Martinez
clock • 1 min read

Polar Capital saw its assets under management (AUM) drop by 14% in the three months to June 2022, as it reported £2.4bn in losses related to fund performance.

Over the last quarter, the group's AUM fell to £18.9bn, compared to £22.1bn at the end of March 2022. The decline was driven mainly by fund performance, but also by net outflows of  £316m and fund closures of £459m.  The bear market sell-off was the biggest contributor to performance, the firm said. Open-ended funds took the biggest hit, with losses of £1.6bn. Investment trusts lost £652m, while segregated mandates dropped £76m. "During the quarter, the rate of net outflows from open-ended funds slowed down compared to the previous quarter, resulting in total net outflows of £316m, dr...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Barclays fined £40m over 2008 capital raising conduct

Barclays fined £40m over 2008 capital raising conduct

FCA previously sought to impose £50m fine

Jen Frost
clock 25 November 2024 • 2 min read
Tavistock Investments acquires £3bn asset manager Alpha Beta Partners

Tavistock Investments acquires £3bn asset manager Alpha Beta Partners

'Complementary' to business positioning

Linus Uhlig
clock 22 November 2024 • 2 min read
Hargreaves Lansdown's Derren Nathan: Companies best placed to absorb NI cost pressures

Hargreaves Lansdown's Derren Nathan: Companies best placed to absorb NI cost pressures

Following Rachel Reeves' Budget

Derren Nathan
clock 21 November 2024 • 4 min read
Trustpilot