Listed asset manager Polar Capital today released its AUM update for the three quarters following 31 March 2021.
At the beginning of the reporting period, the firm’s AUM stood at £20.9 billion although increased by 16 percent to £24.3 billion by 31 December. The increase was heavily skewed towards market movements and fund performance which accounted for £3.4 billion of the extra assets. Inflows to the firm’s products were £0.8 billion.
Looking at where investors were allocating money to Polar Capital, segregated mandates proved the most popular with £602 million of inflows during the period. The second most popular vehicle was the firm’s investment trust stable which attracted £137 million while its open-ended funds enjoyed net new money of £67 million.
Gavin Rochussen, chief executive of Polar Capital, said in a statement: "Our diversification strategy is yielding results with net inflows in the quarter exceeding £300m into our sustainable Emerging Markets Stars strategies and the sustainable Smart Energy and Smart Mobility strategies.
"Alternative strategies make up £1bn of AuM of which £840m is managed by the Global Convertibles team which also had net inflows in the quarter.
"The pipeline for flows remains strong for both our Emerging Markets Stars range of funds, which have sustainability at the core of their processes, as well as for the two recently launched Article 9 funds, Polar Capital Smart Energy Fund and the Polar Capital Smart Mobility Fund,which form part of Polar Capital's sustainable investment focused strategies.
"While crystallised net performance fee profits for the period to 31 December 2021 were muted this year, long term performance remains strong with 72% of our Funds and 88% of AuM having outperformed their respective benchmarks since inception.
"We remain confident that, with our diverse range of complementary funds and focus on performance in our actively managed strategies, we are positioned to continue to perform well for our clients and will continue to generate net inflows. The net inflow momentum of the last quarter has continued into the first two weeks of January."
