Polar Capital: Emerging markets and Asian Stars teams help assets rise

Polar Capital enjoyed an uptick in assets under management (AuM) last quarter as the specialist fund manager was boosted by rising interest in funds managed by its emerging markets and Asian Stars teams.

The London-listed firm said on Thursday that its AuM increased by seven per cent, to £23.5bn from £21.9bn, during the three months to 30 June 2024.

Polar reported £644m of net inflows and £978m from fund performance and positive market movements as global equity markets soared.

The figures mark a recovery from Polar’s last financial year, which saw it hit by £1.6bn in net outflows as clients pulled £1.2bn out of open-ended funds. These funds saw £719m in net inflows for the latest quarter.

Chief executive Gavin Rochussen highlighted funds managed by Polar’s Emerging Markets and Asian Stars teams as large drivers of the net inflows, touting their performance as “a culmination of extensive client engagement over recent years”.

He also singled out Polar’s Healthcare Opportunities, Global Insurance, Japan Value, Artificial Intelligence and UK Value Opportunities Funds.

Altogether, these funds saw combined net inflows of £944m during the quarter.

“While the pipeline of investor interest for our fund range remains strong, and it has been pleasing to have two consecutive quarters of net inflows, many investors are still grappling with multiple geopolitical and market risks, and therefore the potential for further redemptions remains,” Rochussen said

“We remain confident that, with significant fund capacity and improving relative fund performance in our diverse range of differentiated active specialist fund strategies, we are well positioned to perform for our clients and shareholders over the long term.”

Polar Capital’s shares rose two per cent on Thursday morning following the update. Its stock price has surged 28 per cent so far this year.