Polar Capital Holdings PLC reported growth in assets under management over the first nine months of its financial year, despite budget uncertainty in the UK in October, and the absence of a festive rally for global equities last month.

The investment manager said assets under management at December 31, its third-quarter end, stood at £23.79 billion, a rise of 8.7% from £21.89 billion at the start of April.

Net flows over the nine months amounted to £212 million, and Polar Capital also reported a £1.79 billion boost to assets under management from market movements and performance.

‘Despite a late December 2024 sell off in global equity markets, and net outflows during the final calendar quarter, AuM at the end of the nine-month period increased,’ Chief Executive Gavin Rochussen said.

‘During the quarter we benefited from continued net inflows into the Emerging Market Stars funds and related managed accounts of £240 million and the Artificial Intelligence Fund of £14 million. This was offset by several other funds experiencing net outflows.’

Those hurt by outflows included its European Opportunities Fund and related managed accounts, the Global Technology Fund and its UK Value Fund.

‘Net flows have improved year-on-year with net outflows, including a fund closure of £100 million, during the quarter of £360 million compared to net outflows in the comparable quarter in the prior year of £1.1 billion,’ the CEO added.

Net outflows suffered in the third-quarter were largely ‘concentrated in October’, amid pre-budget uncertainty in the UK.

‘Including the impact of a fund closure, net outflows for the month of October totalled £301 million. Net outflows in December were £76 million. November saw net inflows of £17 million,’ Rochussen explained.

Shares in the company were up 2.0% at 490.00 pence each in London on Monday morning.

Copyright 2025 Alliance News Ltd. All Rights Reserved.