Polar Capital assets held back by Japan outflows

Polar Capital has reported a 1% rise in AUM over the six months to end-September as outflows from its Japanese equity fund held back asset growth.

The group saw $425m (£263m) in net redemptions from its long-only products over the period, largely due to "material outflows" from its Japan UCITS fund after a period of rapid AUM growth. Market movements and performance added $549m to long-only AUM. The performance of its alternative funds was flat, but the group did see $117m of inflows into this segment over the six months. In total, AUM rose from $13.2bn to $13.4bn, a 1% increase. Strong AUM growth in the previous six-month period means AUM remains up 17% on a 12-month view. The group cautioned on the outlook for flows in the ...