Market movements and fund performance boost Polar Capital AUM by 14%

Despite £1.6bn net outflows

Polar Capital has posted a 14% increase to its assets under management due to a combination of positive market movements and fund performance.

In its annual results for the year to 31 March 2024 published today (27 June), the firm reported AUM of £21.9bn, up from £19.2bn a year prior. The increase was largely attributed to a contribution of £4.3bn from market movements and fund performance, which were partly offset by £1.6bn in net redemptions. Core operating profit decreased to £44.8m from £47.9m last year due to lower average AUM for a large part of the year and higher operating costs. Polar Capital shares surge 16% as strong market gains offset £1.6bn outflows Yet this was compensated by a higher performance fee pro...