Losses totalling £2.4bn drive Polar Capital AUM down 14% in Q2

Polar Capital saw its assets under management (AUM) drop by 14% in the three months to June 2022, as it reported £2.4bn in losses related to fund performance.  Over the last quarter, the group's AUM fell to £18.9bn, compared to £22.1bn at the end of March 2022. The decline was driven mainly by fund performance, but also by net outflows of  £316m and fund closures of £459m.  The bear market sell-off was the biggest contributor to performance, the firm said. Open-ended funds took the biggest hit, with losses of £1.6bn. Investment trusts lost £652m, while segregated mandates dropped £76m...