Last checked at 19 Apr 2011 07:00
19 April 2011
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
The Group has come to the end of an encouraging year. On the back of good performance and solid inflows Polar Capital has ended the year stronger and better placed than at the end of the previous twelve month period.
We are pleased to report an increase of 53% in our AUM to over $3.87bn in the twelve month period to March 2011. This increase in AUM was achieved despite the closure of the Polar Capital Discovery Fund which accounted for a significant proportion of outflows in our hedge fund franchise over the reported periods. The Group continues to be confident that its strategy of growing its established funds to capacity and expanding its product range through both hiring and acquiring new teams will drive future AUM growth.
Group AUM (unaudited)
The table below sets out the Group's AUM as at 31 March 2011 and the movements experienced in the twelve month and three month periods from 31 March 2010 and 31 December 2010 respectively:
AUM movement Twelve months to 31 March 2011 | Long only funds $m | Hedge funds $m | Total $m |
As at 31 March 2010 | $1,575m | $955m | $2,530m |
Performance and currency movements | $333m | $45m | $378m |
Acquisition of HIM Capital | $249m | - | $249m |
Net subscriptions / (redemptions) | $947m | $(229)m | $718m |
Total AUM at 31 March 2011 | $3,104m | $771m | $3,875m |
AUM movement Three months to 31 March 2011 | Long only funds $m | Hedge funds $m | Total $m |
As at 31 December 2010 | $2,655m | $851m | $3,506m |
Performance and currency movements | $74m | $27m | $101m |
Net subscriptions / (redemptions) | $375m | $(107)m | $268m |
Total AUM at 31 March 2011 | $3,104m | $771m | $3,875m |
For further information please contact:
Polar Capital Tim Woolley (CEO)John Mansell (CFO) | +44 (0)20 7227 2700 |
Numis Securities Simon Blank (Nominated Adviser) Charles Farquhar (Corporate Broking) |
+44 (0)20 7260 1000 |
Financial Dynamics Ed Gascoigne-Pees Georgina Turner |
+44 (0)20 7269 7132 |