Polar Capital AUM falls 10% due to 'increased volatility and uncertainty' linked to Trump's tariffs

2% annual decrease in the firm’s AUM

Polar Capital’s assets under management fell by 10% in the opening quarter of 2025, partly due to the rampant unpredictability introduced to markets by US President Donald Trump's tariffs.

The group's AUM fell from £23.8bn on 31 December 2024 to £21.4bn at end of March this year, a 10% decrease, of which net outflows were £100m and "market movements and performance" made up the remainder. In the update, Polar acknowledged "the start of calendar year 2025 has been difficult for global equity markets with increased volatility and uncertainty introduced by the possibility of a tariff-induced global trade war". Market movements boost Polar Capital AUM by over £1bn in Q4 The flurry of tariffs drove investors out of risk assets in a wider market trend, so "it is no surpris...