10 Jul 2014 07:00
10 July 2014
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 Assets under Management ("AUM").
Group AUM (unaudited)
As at 30 June 2014 the Group's AUM had increased by 3% to over $13.6bn from the $13.2bn at 31 March 2014.
The table below sets out the movements in the Group's AUM over the three month period:
AUM movement Three months to 30 June 2014 | Long only funds $m | Alternative funds $m | Total $m |
As at 31 March 2014 | $12,315m | $934m | $13,249m |
Net subscriptions / (redemptions)* | $(333)m* | $77m | $(256)m |
Closure of EMN team | nil | $(67)m | $(67)m |
Market movement and performance | $752m | $4m | $756m |
Total AUM at 30 June 2014 | $12,734m | $948m | $13,682m |
* including $85m of assets in transition out
Comment
We have already signalled, in our preliminary announcement, the fact that after 15 continuous quarters of net inflows that this quarter was likely to see a net outflow of funds. Despite this short term pause in the Group's asset gathering achievements we continue to believe that, market conditions allowing, the Group is well positioned to continue to grow its assets and profits.
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 (QE) Martin Green Cameron Duncan | +44 (0)20 7523 8000
|
F T I Consulting Neil Doyle Jack Hickey | +44 (0)20 3727 1141 |
Polar Capital (POLR)