Assets continue to trickle from Polar Capital

Down to £18.8bn

Assets under management have continued to shrink at Polar Capital as a combination market selloff, outflows and performance combine at the specialist manager.

According to its quarterly AUM update, assets have slipped to £18.8bn, down from £22.1bn six months earlier. Net redemptions, fund closures and negative market performance all combined to trim £3.3bn from the firm's total assets. Performance fee drop hits Polar Capital's profit All three arms of the business saw net outflows over the period, with open ended funds losing £753m, investment trusts down £62m and segregated mandates ending the six months £30m shorter. The open ended and segregated mandates also saw £380m and £79m exit the firm through fund closures, as Phaeacian mutu...