9 Jul 2020 07:00
9 July 2020 Polar Capital Holdings plc
AuM Update
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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").
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Group AuMÂ (unaudited)
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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.
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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 |
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Gavin Rochussen, Chief Executive, commented:
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"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.
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"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.
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"We continue to function resiliently across the firm under remote working conditions and have begun a measured process of returning to the office.
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"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."
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For further information please contact:
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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 |
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