StockMarketWire.com - Specialist fund management business, Polar Capital has reported a 3% increase in its assets under management (AuM) in the nine months to December 31, 2019.

During the period assets under management reached £14.2bn, compared to £13.8bn at the end of March 2019.

During the period, assets under management increased by £0.4bn which comprised net outflows of £1.1bn offset by an increase of £1.5bn related to market movement and fund performance.

According to chief executive Gavin Rochussen, the election result and reduced Brexit uncertainty increased demand for our UK Value Fund which had net inflows of £100m in December.

However, clients continued to reduce their exposure to North American equities which led to net outflows from the North American Fund of £611m in the quarter, which includes the reallocation of a client mandate away from North American equities to alternative asset classes.

Mr Rochussen said: "Although AuM in the nine months has increased by £400m from £13.8bn to £14.2bn, it has been another challenging quarter. Net outflows of £623m were offset by an increase in AuM of £542m from market and performance movements resulting in a decline in AuM in the quarter of £81m."




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