The specialist asset management firm saw AUM rise 14% from £9.3bn at the end of March to £10.6bn by the end of September.
In the six months to the end of 30 September 2017, the asset manager took in £820m in net flows, a marked improvement from its last final results, where it ended the year with negative flows of £230m.
Including full year 2017, Polar Capital has seen three consecutive years of net outflows, largely thanks to its Japan fund. However, over the last three years, the Polar Capital Japan Fund has outperformed the IA Japan sector, delivering returns of 72.0% against the benchmark’s 67.6%, according to data from FE.
Polar Capital also saw a turnaround in performance fees, which totalled £9.6m versus the £2.8m it brought in the year before.
Chief executive Gavin Rochussen (pictured) called it a “satisfactory quarter” for the group in terms of performance and flows, noting that inflows were most notable across its two UK strategies, as well as its Technology, Healthcare, Insurance, Income Opportunities and European Income funds.
Rochussen, who took over the CEO reins from Tim Woolley in July, added that the group “continues to enjoy a strong balance sheet and capital position.”
