AuM Update

9 July 2020 Polar Capital Holdings plc

AuM Update

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").

Group AuM (unaudited)

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.

Gavin Rochussen, Chief Executive, commented:

"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.

"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.

"We continue to function resiliently across the firm under remote working conditions and have begun a measured process of returning to the office.

"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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