Polar Capital Holdings released an AUM update to the market today and it shows that the firm’s assets under management (AUM) increased by 12 percent to £23.4 billion in the six months to 30 September this year.

The firm’s chief executive Gavin Rochussen attributes the rise in AUM to a combination of of net inflows, market uplift and outperformance.

At the end of the reporting period, Polar launched two new UCITS funds, the Polar Capital Smart Energy Fund and the Polar Capital Smart Mobility Fund which form part of Polar Capital’s sustainable investment strategy.

The funds are managed by Thiemo Lang, who is based in London and the Polar Capital sustainable thematic team. The strategy is to invest in companies involved in the decarbonisation process as the firm believes that demand for smart energy solutions will rise exponentially going forward.

Mr Lang said in a statement: “Economies must envision and empower an energy future that is smart, sustainable, and secure to bring CO2 emissions under control and limit the effects of global warming. We seek to invest in the innovative companies helping to enable this transition, creating a long-term investment opportunity against the backdrop of global efforts to decarbonise.”