Investment management group Polar Capital has reported a 6 per cent increase in assets under management in the second quarter of 2019.
In an update released today (June 11), the group confirmed its AUM had grown from £13.8bn at the end of March to £14.7bn at the end of June.
Of the £877m boost, £150m was a result of net inflows while the remaining £727m was attributed to market movement and fund performance.
Polar Capital’s chief executive, Gavin Rochussen, said: “Given the challenging, volatile and uncertain short-term economic and political conditions it is pleasing to report a quarter of £150m of net inflows after the challenging final six months of our last financial year where the group suffered from net outflows to dampen the net inflows of the first six months to September 2018.
“We remain confident that our active fundamental fund strategies will continue to deliver above average returns for our clients."
Today’s AUM has recovered to that last seen in September 2018, before the group saw outflows of more than £200m in December and continued fluctuations during the first few months of 2019.
