Polar  delivered an exceptional Q4-26 (Jan – Mar 26) with net inflows of +£1.44bn, following positive net flows of +£0.15bn in Q3. This stands in stark contrast to equity funds more generally, and active equity funds especially, which suffered heavy outflows in both quarters (page 2). At the end of Q3, Polar flagged improved client engagement and a strengthening new business pipeline. Clearly, this is now translating into stronger flows.