Last checked at 9 Jul 2020 07:00
9 July 2020 Polar Capital Holdings plc
AuM Update
Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist active asset management group, today provides its quarterly update of its unaudited statement of its Assets under Management ("AuM").
Group AuM (unaudited)
Polar Capital reports that as at 30 June 2020 its AuM were £15.2bn compared to £12.2bn at the end of March 2020, an increase of 25% over the quarter. In the quarter, AuM increased by £3bn of which £488m were net subscriptions, offset by outflows of £301m from closing the UK Absolute Equity Fund and £2.9bn related to market movement and fund performance.
AuM movement in three months to 30 June 2020 | Long only funds | Alternative funds | Total |
AuM at 1 April 2020 | £11,078m | £1,083m | £12,161m |
Net subscriptions | £486m | £2m | £488m |
Closure of UK Absolute Equity Fund | - | £(301)m | £(301)m |
Market movement and performance | £2,787m | £114m | £2,901m |
Total AuM at 30 June 2020 | £14,351m | £898m | £15,249m |
Gavin Rochussen, Chief Executive, commented:
"Given the challenging market conditions, it is pleasing to report a quarter of £488m of net subscriptions across our continuing fund range with more than 60% of our AuM outperforming benchmark in the current calendar year. The return of £301m to unit holders following the suspension and closure of our UK Absolute Equity Fund resulted in net inflows in the quarter of £187m.
"A combination of net inflows, market uplift and outperformance enabled our AuM to increase by 25% in the quarter to £15.2bn from £12.2bn.
"We continue to function resiliently across the firm under remote working conditions and have begun a measured process of returning to the office.
"We remain confident that with our highly active specialist fund strategies we are well positioned to perform for our clients and shareholders over the long term."
For further information please contact:
Polar Capital Gavin Rochussen (Chief Executive)John Mansell (Executive Director) Samir Ayub (Finance Director) | +44 (0)20 7227 2700 |
Numis Securities Limited - Nomad and Joint Broker Charles Farquhar Stephen Westgate Kevin Cruickshank (QE) |
+44 (0)20 7260 1000
|
Peel Hunt LLP - Joint Broker Andrew Buchanan Rishi Shah |
+44 (0)20 7418 8893 |
Camarco Ed Gascoigne-Pees Georgia Edmonds Monique Perks |
+44 (0)20 3757 4984 |