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14 Apr 2025 07:00
14 April 2025
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 Assets under Management ("AuM") for the financial year to 31 March 2025.
Group AuM (unaudited)
Polar Capital reports that as at 31 March 2025 its AuM was £21.4bn compared to £21.9bn at the end of March 2024, a decrease of 2% over the year. During the financial year, we saw net inflows of £0.5bn into the open-ended fund range offset by outflows from segregated mandates and Investment Trust share buy-backs totalling £0.4bn. Including fund closures, net flows were flat and AuM was reduced by £0.5bn arising from market movement and fund performance.
AuM movement in twelve months to 31 March 2025 | ||||
Open ended Funds (£m) | Investment Trusts (£m) | Segregated mandates (£m) | Total (£m) | |
AuM at 1 April 2024 | 15,988 | 5,088 | 816 | 21,892 |
Net flows | 495 | (164) | (208) | 123 |
Fund closures1 | (111) | - | - | (111) |
Market movement and performance | (378) | (78) | (39) | (495) |
Total AuM at 31 March 2025 | 15,994 | 4,846 | 569 | 21,409 |
1 Return of funds to investors on closure of the Forager Fund in October 2024 and Financial Opportunities Fund in March 2025.
Gavin Rochussen, Chief Executive, commented:
"Given significant industry wide net outflows from active equity managers over the period, it is notable that Polar Capital achieved net inflows into its open-ended fund range of £495m (excluding fund closures) and net inflows across all investment offerings of £123m in the year to 31 March 2025.
"The start of calendar year 2025 has been difficult for global equity markets with increased volatility and uncertainty introduced by the possibility of a tariff induced global trade war. With investors selling out of risk assets, it is no surprise that during the quarter total AuM decreased by £2.4bn from £23.8bn at the end of December 2024 to £21.4bn at end of March 2025, a 10% decrease, of which net outflows were £0.1bn and market movements and performance made up the remainder.
"Over the course of the financial year, a combination of net outflows and fund closures was offset by market and fund performance resulting in our AuM decreasing by 2% to £21.4bn from £21.9bn at the end of March 2024.
"During the quarter, we had net inflows of £398m from a range of funds including the Global Absolute Return, International Small Company, Emerging Market Stars, Healthcare Blue chip, Biotechnology, and Artificial Intelligence Funds.
"During the quarter, the open-ended Technology Fund saw net outflows of £200m compared to £123m of net outflows in the previous quarter.
"The International Small Company Fund, our third US-domiciled mutual fund, which was launched at the end of September 2024, and during a volatile six months for listed equities, has now reached US$90m in assets, and is closing in on the important first milestone of US$100m. As global equity markets broaden out, we believe there will be increasing demand by US investors for international equities which bodes well for the franchise.
"While volatile equity markets may impact AuM levels and profitability in the near term, we remain confident that with our diverse range of specialist active fund strategies, we are well-positioned to perform for our clients and shareholders over the long term."
Polar Capital plans to announce its results for the financial year to 31 March 2025 on 30 June 2025.
For further information please contact:
Polar Capital Gavin Rochussen (Chief Executive) Samir Ayub (Chief Financial Officer)
| +44 (0)20 7227 2700 |
Numis Securities Limited - Nomad and Joint Broker Giles Rolls Charles Farquhar
| +44 (0)20 7260 1000
|
Peel Hunt LLP - Joint Broker Andrew Buchanan Oliver Jackson
| +44 (0)20 3597 8680
|
Camarco - PR Ed Gascoigne-Pees Jennifer Renwick Phoebe Pugh | +44 (0)20 3757 4980
|
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