Polar Capital suffers £581m outflows as profits slump

AUM down to £18.9bn

Polar Capital had £581m redeemed from its funds over the six months to 30 September, the company said in its interim results today (20 November).

The outflows were £264m lower than the previous period, the firm noted, aided by inflows into a number of its funds, in particular the Emerging Market Stars fund range which received £244m in inflows. Assets under management also dropped over the six months, from £19.2bn at the end of March to £19.1bn at the end of September, and a further drop was reported as of 10 November at £18.9bn. Polar Capital profits sink as AUM falls 13% Core operating profits also fell to £22.5m from £25.8m in September last year, alongside profit before tax at £21.1m, down from £23m at the end of Septemb...