REG - Polar Capital Hldgs - AuM Update

Polar Capital HoldingsAnnouncement

13/07/2023 07:00

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RNS Number : 8478F  Polar Capital Holdings PLC  13 July 2023

13 July 2023
                                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 2023 its AuM was £19.7bn compared to
£19.2bn at the end of March 2023, an increase of 3% over the quarter. In the
quarter, AuM decreased by net outflows of £0.2bn, fund closure of £7m and a
£0.7bn increase related to market movement and fund performance.

 

 AuM movement in three months to 30 June 2023
                            Open ended  Investment Trusts  Segregated mandates  Total

                            funds
 AuM at 1 April 2023        £14,281m    £3,910m            £1,029m              £19,220m
 Net outflows               £(132)m     £(39)m             £(30)m               £(201)m
 Fund closures (1)          £(7)m       -                  -                    £(7)m
 Market movement            £377m       £317m              £6m                  £700m

 and performance
 Total AuM at 30 June 2023  £14,519m    £4,188m            £1,005m              £19,712m

(1) Return of funds to investors on closure of the Melchior European Absolute
Return fund.

 

Gavin Rochussen, Chief Executive, commented:

 

"There has been continued demand and inflows into the Sustainable Emerging
Market Stars, European ex-UK Income, Healthcare Blue Chip, Biotechnology and
Smart Energy Funds with combined net inflows of £313m across these funds in
the quarter.

 

"Total AuM in the quarter increased by £0.5bn from £19.2bn to £19.7bn, a 3%
increase.

 

"Net outflows in the quarter of £201m compares to net outflows of £410m in
the previous quarter.

 

"During the quarter, the rate of net outflows from open-ended Technology funds
continued to decline, with £103m of net outflows compared to £199m in the
previous quarter.

 

"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

 John Welch

 Sam Milford

 Camarco                                             +44 (0)20 3757 4995

 Ed Gascoigne-Pees

 Jennifer Renwick

 Phoebe Pugh

 

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