Polar Capital Holdings issues AuM update

Polar Capital Holdings reports that as at 31 December 2016 its Assets under Management (AuM) were £8.4bn compared to £7.3bn at end-March 2016.

"In mid-December we released our interim results and at the time provided guidance that the US election result in November had triggered a noticeable change in flows into our funds," it said in a statement.

"December has continued in the same vein that November finished and it is pleasing to report that more than £100m of net inflows were received in the month into our products, giving a total net flow for the quarter of over £300m.

"On a less positive note the performance fees earned in the year were below the level of last year although this was the 16th consecutive year that such fees have been earned.

"Whilst this was not our best year in terms of overall investment performance, our medium and longer term performance numbers on our UCITS products remain extremely strong.

"Thirteen of our eighteen Lipper rated UCITS funds are top quartile since launch, eight of which are top decile, whilst the other five funds are second quartile (as at 31 December 2016)."