(Alliance News) - Polar Capital Holdings PLC on Thursday reported a double digit rise in asset under management over its recently-ended financial year, driven by strong net inflows and market movements.
As at March 31, the London-based specialist active asset management group's assets under management stood at GBP20.86 billion, up 71% from GBP12.16 billion at April 1, 2020.
The increase in assets over the year comprised net subscriptions totalling GBP2.11 billion, net inflows of GBP1.7 billion from reported acquisitions, and GBP5.20 billion related to market movements and fund performances.
However, Polar Capital reported an outflow of GBP301 million, from the closure of one fund.
"Fund performance across our fund range in the current calendar year is resilient with 57% of our funds outperforming benchmark calendar year to date," said Chief Executive Gavin Rochussen.
"We remain confident that with our diverse range of funds and focus on performance in our actively managed complementary funds 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 April," Rochussen added.
Polar Capital will publish its annual results on July 1.
Shares in Polar Capital were up 2.5% at 740.79 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Polar Capital (POLR)