Polar Capital Holdings PLC AuM Update (4094S)
14 Julio 2022 - 1:00AM
UK Regulatory
TIDMPOLR
RNS Number : 4094S
Polar Capital Holdings PLC
14 July 2022
14 July 2022 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 2022 its AuM were
GBP18.9bn compared to GBP22.1bn at the end of March 2022, a
decrease of 14% over the quarter. In the quarter, AuM decreased by
net outflows of GBP0.3bn, fund closures of GBP0.5bn and GBP2.4bn
related to market movement and fund performance.
AuM movement in three months to 30 June 2022
Open ended Investment Segregated Total
funds Trusts mandates
------------ ----------- ----------- ------------
AuM at 1 April 2022 GBP16,590m GBP4,378m GBP1,153m GBP22,121m
------------ ----------- ----------- ------------
Net outflows GBP(268)m GBP(33)m GBP(15)m GBP(316)m
------------ ----------- ----------- ------------
Fund closures (1) GBP(380)m - GBP(79)m GBP(459)m
------------ ----------- ----------- ------------
Market movement GBP(1,665)m GBP(652)m GBP(76)m GBP(2,393)m
and performance
------------ ----------- ----------- ------------
Total AuM at 30 June GBP14,277m GBP3,693m GBP983m GBP18,953m
2022
------------ ----------- ----------- ------------
(1) Return of funds to investors on closure of the Phaeacian
mutual funds and related segregated mandate.
Gavin Rochussen, Chief Executive, commented:
"A combination of the bear market sell-off, net outflows, fund
closures and fund performance meant that our AuM at the end of the
quarter were GBP18.9bn compared to GBP22.1bn at the end of March
2022.
"Despite overall net outflows in the quarter, there has been
continued demand and inflows into the Sustainable Emerging Market
Stars, Global Insurance, Healthcare Blue Chip, Global Absolute
Return and Smart Energy Funds with combined net inflows of GBP275m
across these funds.
"During the quarter, the rate of net outflows from open-ended
funds slowed down compared to the previous quarter, resulting in
total net outflows of GBP316m, driven by the technology funds with
net outflows of GBP380m and which compares favourably with
technology net outflows in the previous quarter of GBP630m.
"With significant fund capacity and improving relative fund
performance, we remain confident that with our diverse range of
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)
Samir Ayub (Finance Director) +44 (0)20 7227 2700
Numis Securities Limited - Nomad
and Joint Broker
Giles Rolls
Charles Farquhar
Stephen Westgate +44 (0)20 7260 1000
Peel Hunt LLP - Joint Broker
Andrew Buchanan +44 (0) 20 3597 8680
Camarco
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh +44 (0)20 3757 4995
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END
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