Last checked at 11 Jan 2013 07:00
11 January 2013
Polar Capital Holdings plc
AUM Update
Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist asset management group, today provides its regular quarterly update of its unaudited statement of its Assets under Management ("AUM").
Group AUM (unaudited)
As at 31 December 2012 the Group's AUM have increased by 18% to $6.02bn from the $5.08bn reported at 31 March 2012 and have increased by 42% from the figure of $4.24bn reported at 31 December 2011.
The table below sets out the movements in the Group's AUM over the nine month period:
AUM movement Nine months to 31 December 2012 | Long only funds $m | Hedge funds $m | Total $m |
As at 31 March 2012 | $4,365m | $718m | $5,083m |
Net subscriptions | $842m | $81m | $923m |
Market movement and performance | $(19)m | $34m | $15m |
Total AUM at 31 December 2012 | $5,188m | $833m | $6,021m |
Comment
In October 2012 we reported that in our first half year, to September 2012, the Group had received $405m of net inflows. It is encouraging to report that the positive flows have continued with a further $518m of net inflows being received in our third quarter, across a range of strategies, taking the year to date net inflows up to $923m.
Assuming market conditions do not deteriorate, we are well positioned to continue to grow our AUM in 2013.
Net performance fees (unaudited)
The table below sets out the position relating to net performance fees (after the deduction of staff interests) earned and accrued in the first nine months of the Group's financial year.
Performance fees net of staff allocations | Nine months to 31 Dec 11 £m | Year to 31 Mar 12 (year-end) £m | Nine months to 31 Dec 12 £m |
Received | £3.7m | £4.1m | £5.1m |
Accrued but not yet earned in funds with year ends on or before the financial year end | £0.3m | n/a | £0.3m |
Total net performance fees | £4.0m | £4.1m | £5.4m |
For further information please contact:
Polar Capital Tim Woolley (CEO)John Mansell (CFO) | +44 (0)20 7227 2700 |
Canaccord Genuity - Nomad and Broker Simon Bridges Cameron Duncan | +44 (0)20 7523 8000
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F T I Consulting Ed Gascoigne-Pees Jack Hickey | +44 (0)20 7269 7132 |