REG - Polar Capital Hldgs - AuM Update

Polar Capital HoldingsAnnouncement

11/07/2024 07:00

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RNS Number : 9384V  Polar Capital Holdings PLC  11 July 2024

11 July 2024
                                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 2024 its AuM was £23.5bn compared to
£21.9bn at the end of March 2024, an increase of 7% over the quarter. In the
quarter, AuM increased by net inflows of £0.6bn and a £1.0bn increase
related to market movement and fund performance.

 

 AuM movement in three months to 30 June 2024
                            Open ended  Investment  Segregated mandates  Total

                            funds       Trusts      (£m)                 (£m)

                            (£m)        (£m)
 AuM at 1 April 2024        15,988      5,088       816                  21,892
 Net flows                  719         (78)        3                    644
 Market movement            585         391         2                    978

 and performance
 Total AuM at 30 June 2024  17,292      5,401       821                  23,514

 

 

Gavin Rochussen, Chief Executive, commented:

 

"There has been continued demand for a broad range of our funds during the
quarter. Those in net inflows include the Emerging Market Stars (both the
UCITS and Emerging Markets Stars 40 Act mutual funds), Asian Stars, Healthcare
Opportunities, Global Insurance, Japan Value, Artificial Intelligence and UK
Value Opportunities Funds, with combined net inflows of £944m across these
funds in the quarter.

 

"Total AuM in the quarter increased by £1.6bn from £21.9bn to £23.5bn, a 7%
increase.

 

"The increase in AuM over the quarter of £1.6bn was the result of £644m of
net inflows and £978m of fund performance and market movement.

 

"Net inflows in the quarter of £644m were driven in large part by flows into
funds managed by the Emerging Markets and Asian Stars team and are a
culmination of extensive client engagement over recent years which has led to
investor allocations over the two most recent quarters.

 

"There has been further recognition of our Emerging Markets Stars Fund with
Polar Capital winning the Emerging Markets Manager of the Year Award in the
European Pensions Awards 2024.

 

"Given the strategic focus on growing distribution in the US, it is pleasing
that Morningstar have upgraded the Emerging Markets Stars US 40 Act mutual
fund from a Bronze to a Silver rating, driven by increased conviction in our
investment team.

 

"While the pipeline of investor interest for our fund range remains strong,
and it has been pleasing to have two consecutive quarters of net inflows, many
investors are still grappling with multiple geopolitical and market risks, and
therefore the potential for further redemptions remains.

 

"We remain confident that, with significant fund capacity and improving
relative fund performance in our diverse range of differentiated 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 (Chief Financial Officer)

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

 Giles Rolls

 Charles Farquhar

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

 Andrew Buchanan

 Sam Milford

 Camarco - PR                              +44 (0)20 3757 4995

 Ed Gascoigne-Pees

 Jennifer Renwick

 Phoebe Pugh

 

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