11 Jul 2013 07:00
11 July 2013
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").
Group AUM (unaudited)
As at 30 June 2013 the Group's AUM increased 27% to over $9.2bn from the $7.2bn reported at 31 March 2013.
The table below sets out the movements in the Group's AUM over the three-month period:
AUM movement Three months to 30 June 2013 | Long only funds $m | Hedge funds $m | Total $m |
As at 31 March 2013 | $6,371m | $837m | $7,208m |
Net subscriptions | $1,806m | $15m | $1,821m |
Market movement and performance | $179m | $(2)m | $177m |
Total AUM at 30 June 2013 | $8,356m | $850m | $9,206m |
Comment
The strong net inflows of the previous financial year have continued into the first quarter of the new financial year, despite challenging market conditions. It is not anticipated that flows will continue at this same pace.
The current quarter has started well with the launch on 1 July 2013 of the Polar Capital Global Financial Trust plc that raised £153m.
The Group continues to be well positioned to continue to grow assuming market conditions do not deteriorate materially.
For further information please contact:
Polar Capital Tim Woolley (CEO)John Mansell (CFO) | +44 (0)20 7227 2700 |
Canaccord Genuity - Nomad and Broker Martin Green Simon Bridges (QE) Cameron Duncan | +44 (0)20 7523 8000
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F T I Consulting Neil Doyle Jack Hickey | +44 (0)20 7269 7237 |
Polar Capital (POLR)