Last checked at 16 Apr 2012 07:00
16 April 2012
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 March 2012 the Group's AUM increased to over $5bn from the $4.24bn at December 2011 and from the $3.88bn reported at 31 March 2011.
The table below sets out the movements in the Group's AUM over the twelve-month period:
AUM movement Twelve months to 31 March 2012 | Long only funds $m | Hedge funds $m | Total $m |
As at 31 March 2011 | $3,104m | $771m | $3,875m |
Performance and currency movements | $150m | $14m | $164m |
Net subscriptions / (redemptions) | $1,111m | $(67)m | $1,044m |
Total AUM at 31 March 2012 | $4,365m | $718m | $5,083m |
Comment
In spite of the challenging market conditions the Group has continued to make good progress over the last 12 months. Investment performance has remained strong, two new teams were added and four new funds were launched. AUM increased 31% over the period with net inflows of over $1bn for the year and inflows of over $200m in the last quarter. Inflows were seen into a wide range of our products although in aggregate our hedge funds saw another year of net redemptions. We believe we will see a resumption of growth in our hedge fund assets over the coming fiscal year given our expanded product offering and the strong performance of a number of these products in 2011.
The improvement in markets during the last quarter has been helpful although we expect market conditions to remain volatile. We consider that the Group is well positioned to grow further over the coming twelve months assuming market conditions do not deteriorate.
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 7050 6500
|
F T I Consulting Ed Gascoigne-Pees Jack Hickey | +44 (0)20 7269 7132 |