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4 Aug 2009 07:00
4 August 2009
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").
Comment
It is encouraging to note that the anticipated drying up of redemption requests has materialised. The outflows in the first quarter of the financial year were predominantly those that had been submitted in the final quarter of the last financial year, during the three month period ending 31 March 2009. There are now some positive signs that the industry in general and Polar Capital in particular is beginning to see a change in sentiment as investors start to reinvest into both hedge as well as long only strategies.
Group AUM (unaudited)
In the three months to 30 June 2009 the Group's AUM has risen 3.1% to US$1.526bn.
The table below sets out the Group's AUM as at 30 June 2009 and the movements experienced in the three months since the Group's year end:
|
AUM movement 3 months to 30 June 2009 |
Long $m |
Hedge $m |
Advisory $m |
Total $m |
|
As at 31 March 2009 |
$746m |
$699m |
$35m |
$1,480m |
|
Performance and currency movements |
$177m |
$38m |
$5m |
$220m |
|
Net subscriptions / (redemptions) from ongoing businesses |
$(76)m |
$(61)m |
$0m |
$(137)m |
|
Outflows from closed funds |
nil |
nil |
$(37)m |
$(37)m |
|
Total AUM at 30 June 2009 |
$847m |
$676m |
$3m |
$1,526m |
For further information please contact:
|
Polar Capital Mark Kary John Mansell |
+44 (0)20 7227 2700 |
|
Numis Securities Lee Aston (Nominated Adviser) Charles Farquhar (Corporate Broking) |
+44 (0)20 7260 1000 |
|
Financial Dynamics Ed Gascoigne-Pees Georgina Turner |
+44 (0)20 7269 7132 |
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