Last checked at 10 Apr 2014 07:00
10 April 2014
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 Assets under Management ("AUM").
Group AUM (unaudited)
As at 31 March 2014 the Group's AUM had increased by 2% to over $13.2bn from the $13.0bn at 31 December 2013 and increased by 83% from the $7.2bn reported at 31 March 2013.
The table below sets out the movements in the Group's AUM over the twelve-month period:
AUM movement Twelve months to 31 March 2014 | Long only funds $m | Alternative funds $m | Total $m |
As at 31 March 2013 | $6,371m | $837m | $7,208m |
Net subscriptions | $4,914m | $28m | $4,942m |
Closure of UK team | $(252)m | $(41)m | $(293)m |
Market movement and performance | $1,282m | $110m | $1,392m |
Total AUM at 31 March 2014 | $12,315m | $934m | $13,249m |
Comment
Despite the challenging market conditions of the past quarter, we are pleased to report a further increase in our AUM. Net inflows during the quarter were over $750m across a range of products and they more than offset the reduction in assets due to adverse market movements.
Markets have made an uncertain start to 2014 but assuming they do not deteriorate from recent levels we remain well positioned to continue to grow our assets and profits further in our new fiscal year.
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 (QE) Martin Green Cameron Duncan | +44 (0)20 7523 8000
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F T I Consulting Neil Doyle Jack Hickey | +44 (0)20 3727 1141 |