10th Apr 2015 08:30
LONDON (Alliance News) - Polar Capital Holdings PLC posted another fall in assets under management on Friday as it continued to be hit by outflows from its Japan funds.
Polar said its total assets under management at the end of March were USD12.3 billion, compared to USD12.9 billion at the end of December and USD13.2 billion a year earlier.
In the past twelve months, the company has seen USD2.3 billion in outflows from its Japan fund range, hit by weaker performance. Polar Capital said the outflows from the Japan business and inflows into other products has resulted in the volume of Japan-based assets falling to 30% of the total, from a peak of 43%.
Shares in Polar Capital were down 2.5% to 351.50 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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