Polar Capital Holdings PLC AuM Update (2846Y)
13 Enero 2022 - 01:00AM
UK Regulatory
TIDMPOLR
RNS Number : 2846Y
Polar Capital Holdings PLC
13 January 2022
13 January 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
regular quarterly update of its unaudited statement of its Assets
under Management ("AUM") and performance fees earned for the
calendar year to 31 December 2021.
Group AUM (unaudited)
Polar Capital reports that as at 31 December 2021 its AuM were
GBP24.3bn compared to GBP20.9bn at the end of March 2021, an
increase of 16% over the period. During the period, AuM increased
by GBP3.4bn which comprised net inflows of GBP0.8bn, and an
increase of GBP2.6bn relating to market movement and fund
performance.
AuM movement in nine months to 31 December 2021
Open ended Investment Segregated Total
funds Trusts mandates
----------- ----------- ----------- -----------
AuM at 1 April 2021 GBP16,579m GBP3,867m GBP417m GBP20,863m
----------- ----------- ----------- -----------
Net subscriptions GBP67m GBP137m GBP602m GBP806m
----------- ----------- ----------- -----------
Market movement GBP1,807m GBP725m GBP107m GBP2,639m
and performance
----------- ----------- ----------- -----------
Total AuM at GBP18,453m GBP4,729 GBP1,126m GBP24,308m
31 December 2021
----------- ----------- ----------- -----------
Net performance fees (unaudited)
The table below sets out the position relating to net
performance fee profits (after the deduction of staff interests)
earned in the first nine months of the Group's financial year.
Performance fee profit Nine months Year to Nine months
to to
net of staff allocations 31 Dec 20 31 Mar 21 31 Dec 21*
(year-end)
Net performance fee profit GBP19.3m GBP19.5m GBP4.3m*
-------------- -------------- --------------
*The figures to December 2021 are reduced by what is expected to
be approximately GBP2.3m of net deferment adjustments.
Gavin Rochussen, Chief Executive, commented:
"It is pleasing to report net inflows in the quarter of GBP117m
and GBP0.8bn over the nine-month period across our range of fund
strategies.
"A combination of net inflows, market uplift and outperformance
enabled our AuM to increase by 16% over the nine-month period from
GBP20.9bn to GBP24.3bn.
"Over the nine-month period, there were net inflows into all
channels with notable success in the funding of segregated mandates
amountin g to GBP602m, 144% of segregated AuM at 1 April 2021 and
taking total segregated AuM at 31 December 2021 to GBP1.1bn, a 170%
increase over the period.
"Our diversification strategy is yielding results with net
inflows in the quarter exceeding GBP300m into our sustainable
Emerging Markets Stars strategies and the sustainable Smart Energy
and Smart Mobility strategies.
"Alternative strategies make up GBP1bn of AuM of which GBP840m
is managed by the Global Convertibles team which also had net
inflows in the quarter.
"The pipeline for flows remains strong for both our Emerging
Markets Stars range of funds, which have sustainability at the core
of their processes, as well as for the two recently launched
Article 9 funds, Polar Capital Smart Energy Fund and the Polar
Capital Smart Mobility Fund, which form part of Polar Capital's
sustainable investment focused strategies.
"While crystallised net performance fee profits for the period
to 31 December 2021 were muted this year, long term performance
remains strong with 72% of our Funds and 88% of AuM having
outperformed their respective benchmarks since inception.
"We remain confident that, with our diverse range of
complementary funds and focus on performance in our actively
managed strategies, we are positioned to continue to perform well
for our clients and will continue to generate net inflows. The net
inflow momentum of the last quarter has continued into the first
two weeks of January."
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
Rishi Shah +44 (0)20 3597 8680
Camarco
Ed Gascoigne-Pees
Jennifer Renwick
Monique Perks
Phoebe Pugh +44 (0)20 3757 4995
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END
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