TIDMPOLR

RNS Number : 4642S

Polar Capital Holdings PLC

09 July 2020

   9 July 2020                                         Polar Capital Holdings plc 

AuM Update

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist active asset management group, today provides its quarterly update of its unaudited statement of its Assets under Management ("AuM").

   Group AuM   (unaudited) 

Polar Capital reports that as at 30 June 2020 its AuM were GBP15.2bn compared to GBP12.2bn at the end of March 2020, an increase of 25% over the quarter. In the quarter, AuM increased by GBP3bn of which GBP488m were net subscriptions, offset by outflows of GBP301m from closing the UK Absolute Equity Fund and GBP2.9bn related to market movement and fund performance.

 
 AuM movement in three       Long only    Alternative     Total 
  months to 30 June 2020        funds        funds 
 AuM at 1 April 2020         GBP11,078m    GBP1,083m    GBP12,161m 
                            -----------  ------------  ----------- 
 Net subscriptions            GBP486m        GBP2m       GBP488m 
                            -----------  ------------  ----------- 
 Closure of UK Absolute          -         GBP(301)m    GBP(301)m 
  Equity Fund 
                            -----------  ------------  ----------- 
 Market movement             GBP2,787m      GBP114m     GBP2,901m 
  and performance 
                            -----------  ------------  ----------- 
 Total AuM at 30 June 2020   GBP14,351m     GBP898m     GBP15,249m 
                            -----------  ------------  ----------- 
 

Gavin Rochussen, Chief Executive, commented:

"Given the challenging market conditions, it is pleasing to report a quarter of GBP488m of net subscriptions across our continuing fund range with more than 60% of our AuM outperforming benchmark in the current calendar year. The return of GBP301m to unit holders following the suspension and closure of our UK Absolute Equity Fund resulted in net inflows in the quarter of GBP187m.

"A combination of net inflows, market uplift and outperformance enabled our AuM to increase by 25% in the quarter to GBP15.2bn from GBP12.2bn.

"We continue to function resiliently across the firm under remote working conditions and have begun a measured process of returning to the office.

"We remain confident that with our highly active specialist fund strategies we are well positioned to perform for our clients and shareholders over the long term."

For further information please contact:

 
 Polar Capital 
  Gavin Rochussen (Chief Executive) 
  John Mansell (Executive Director) 
  Samir Ayub (Finance Director)           +44 (0)20 7227 2700 
  Numis Securities Limited - Nomad and 
   Joint Broker 
   Charles Farquhar 
   Stephen Westgate 
   Kevin Cruickshank (QE)                  +44 (0)20 7260 1000 
  Peel Hunt LLP - Joint Broker 
   Andrew Buchanan 
   Rishi Shah                              +44 (0)20 7418 8893 
  Camarco 
   Ed Gascoigne-Pees 
   Georgia Edmonds 
   Monique Perks                            +44 (0)20 3757 4984 
 

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END

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July 09, 2020 02:00 ET (06:00 GMT)

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