REG - Polar Capital Hldgs - AuM Update

Polar Capital HoldingsAnnouncement

14/07/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220714:nRSN4094Sa&default-theme=true

RNS Number : 4094S  Polar Capital Holdings PLC  14 July 2022

14 July 2022
                                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 2022 its AuM were £18.9bn compared
to £22.1bn at the end of March 2022, a decrease of 14% over the quarter. In
the quarter, AuM decreased by net outflows of £0.3bn, fund closures of
£0.5bn and £2.4bn related to market movement and fund performance.

 

 AuM movement in three months to 30 June 2022
                            Open ended  Investment Trusts  Segregated mandates  Total

                            funds
 AuM at 1 April 2022        £16,590m    £4,378m            £1,153m              £22,121m
 Net outflows               £(268)m     £(33)m             £(15)m               £(316)m
 Fund closures (1)          £(380)m     -                  £(79)m               £(459)m
 Market movement            £(1,665)m   £(652)m            £(76)m               £(2,393)m

 and performance
 Total AuM at 30 June 2022  £14,277m    £3,693m            £983m                £18,953m

(1) Return of funds to investors on closure of the Phaeacian mutual funds and
related segregated mandate.

 

Gavin Rochussen, Chief Executive, commented:

 

"A combination of the bear market sell-off, net outflows, fund closures and
fund performance meant that our AuM at the end of the quarter were £18.9bn
compared to £22.1bn at the end of March 2022.

 

"Despite overall net outflows in the quarter, there has been continued demand
and inflows into the Sustainable Emerging Market Stars, Global Insurance,
Healthcare Blue Chip, Global Absolute Return and Smart Energy Funds with
combined net inflows of £275m across these funds.

 

"During the quarter, the rate of net outflows from open-ended funds slowed
down compared to the previous quarter, resulting in total net outflows of
£316m, driven by the technology funds with net outflows of £380m and which
compares favourably with technology net outflows in the previous quarter of
£630m.

 

"With significant fund capacity and improving relative fund performance, we
remain confident that with our diverse range of active specialist fund
strategies we are well positioned to perform for our clients and shareholders
over the long term."

 

 

For further information please contact:

 

 Polar Capital                                       +44 (0)20 7227 2700

 Gavin Rochussen (Chief Executive)

Samir Ayub (Finance Director)

 Numis Securities Limited - Nomad and Joint Broker   +44 (0)20 7260 1000

 Giles Rolls

 Charles Farquhar

 Stephen Westgate

 Peel Hunt LLP - Joint Broker                        +44 (0)20 3597 8680

 Andrew Buchanan

 Camarco                                             +44 (0)20 3757 4995

 Ed Gascoigne-Pees

 Jennifer Renwick

 Phoebe Pugh

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDRJMRTMTJBBRT