AUM Update

10 April 2015

Polar Capital Holdings plc

AUM Update

Polar Capital Holdings plc ("Polar Capital" or the "Group") the specialist asset manager today provides its regular quarterly update of its unaudited statement of its Assets under Management ("AUM").

Group AUM (unaudited)

Polar Capital reports that as at 31 March 2015 its AUM were $12.3bn compared to $12.9bn at the end of December 2014 and $13.2bn at the end of March 2014.

The table below sets out the movements in Polar Capital's AUM over the twelve month period:

Comment

Net inflows across the Group's non Japan range of funds of $0.3bn over the past twelve months have been offset by $2.3bn of outflows from our Japan business ($1.6bn over the past six months) following both disappointing performance that has been exacerbated by the team's style bias, as well as uncertainty over the direction of the Japanese equity market. These Japan flows follow the $3.0bn of net inflows that were received in the previous twelve month period.

The combination of these Japan outflows with good inflows into a number of our other products over the year has delivered the side effect of making the business more balanced with Japan now accounting for some 30% of the Group's AUM down from its peak of 43%.

We continue to believe that over the medium term the Group is well placed to grow assets further given the number of products that have considerable scope for asset growth including the launch of 3 new funds over the past year. This assumes there is no meaningful deterioration in the overall outlook for global equity markets.

The confidence in our ability to grow assets in the medium term is a function of the strong performance of our products that can be demonstrated by the good performance numbers of Polar Capital's product range where 11 of our 14 Lipper rated open ended funds (with at least a 1 year track record) are over one year first or second quartile continuing the excellent record since inception.

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