video1.0<iframe src="https://www.loom.com/embed/592ab01e4ea54b618054eb507cd647db" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/592ab01e4ea54b618054eb507cd647db-f0436ad4d92b718b.gif89.6797In this video, I discuss Polar Capital's AUM update for Q4 of FY25, which ended on March 31. Despite a challenging quarter with technology equity indices down 10-12%, Polar's AUM fell only 10% to £21.4 billion, showing resilience with marginally negative net flows of £89 million. This is an improvement from Q3's outflows of £260 million, indicating a relatively strong performance compared to peers. I also mention that while our FY25 profit forecast remains unchanged, we have reduced our FY26 forecasts due to market conditions. Please take a moment to review the details.