REG - Polar Capital Hldgs - AuM Update

Polar Capital HoldingsAnnouncement

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RNS Number : 6214C  Polar Capital Holdings PLC  09 October 2025

9 October 2025
Polar Capital Holdings plc

AuM Update

 

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist
active asset management group, today provides an update in respect of the
three months to 30 September 2025.

 

Group AuM (unaudited)

 

Polar Capital reports that as at 30 September 2025 its AuM was £26.7bn
compared to £23.2bn at the end of June 2025, an increase of 15% over the
quarter. In the quarter, AuM increased by fund performance and market
movements of £3.6bn, offset by net outflows of £58m.

 

 AuM movement in three months to 30 September 2025
                     Open ended  Investment  Segregated mandates  Total

                     Funds       Trusts      (£m)                 (£m)

                     (£m)        (£m)
 AuM at 1 July 2025              5,457       448                  23,164

                     17,259

 Net flows                       (74)        (34)                 (58)

                     50

 Market movement                 911         87                   3,594

 and performance     2,596

 Total AuM at                    6,294       501                  26,700

 30 September 2025   19,905

 

 AuM movement in six months to 30 September 2025
                      Open ended  Investment  Segregated mandates  Total

                      Funds       Trusts      (£m)                 (£m)

                      (£m)        (£m)
 AuM at 1 April 2025  15,994      4,846       569                  21,409

 Net flows            (386)       (117)       (187)                (690)

 Corporate action(1)              (280)       -                    (280)

                      -

 Market movement      4,297       1,845       119                  6,261

 and performance
 Total AuM at         19,905      6,294       501                  26,700

 30 September 2025

(1) Return of capital to investors in June 2025 as the Polar Capital Global
Financials Trust underwent a 100% tender offer following which 44% of issued
capital was tendered.

 

 

Net performance fee profits (unaudited)

 

The table below sets out the position relating to net performance fee profits
due to the Group (after the deduction of staff interests) as a product of
accrued performance fees in funds managed by the Group three months before the
strike point of such performance fee receipts. There is no certainty that the
fees will be sustained over the next quarter, as performance fees can be
volatile.

 

 Performance fees                                                                Six months to  12 months to  Six months to

 net of staff allocations (All figures in £m)                                    30 Sep 24      31 Mar 25     30 Sep 25

                                                                                                (year-end)
 Received                                                                        -              7.9           -
 Accrued in underlying funds with year ends on or before the financial year end  0.7            n/a           15.0*
 Total net performance fee profits                                               0.7            7.9           15.0*

*The figures exclude £1.5m of net performance fee distributions (staff
allocations) that are deferred into future periods for accounting purposes,
and which should be deducted from the total performance fee profit figure for
the purposes of calculating adjusted total earnings per share.

 

Iain Evans, Chief Executive, commented:

"I am pleased to report that assets under management rose by 15% over the
quarter to a new all-time high of £26.7bn, up from £23.2bn at the end of
June. This £3.5bn increase reflected £3.6bn of positive fund performance and
market movements and net outflows of £58m.

 

"Equity markets have delivered robust returns so far this year, with
enthusiasm around artificial intelligence continuing to drive major indices.
Our meaningful exposure to technology has enabled us to benefit from this
favourable backdrop.

 

"It is encouraging that the pace of redemptions has slowed significantly, with
total net outflows of only £58m compared with net outflows of £632m in the
prior quarter. Demand for our funds was broad-based, particularly across our
higher-growth strategies. Those in net inflow included the Artificial
Intelligence, Global Technology, Asian Stars, Emerging Market Stars,
Biotechnology, Japan Value, Financial Credit, Global Absolute Return, Smart
Energy, and International Small Company funds, which together generated £350m
of net inflows during the quarter.

 

"Our European and UK strategies remained out of favour, with combined net
outflows of £175m. The open-ended Global Technology Fund recorded net inflows
of £226m compared to net outflows of £162m in the last quarter, having
delivered a return 18% ahead of its benchmark calendar year to date.
Elsewhere, the closure of an Emerging Market managed account was largely
offset by the establishment of a new Biotechnology managed account, which was
funded with an initial £93m by a U.S. endowment.

 

"At the Polar Capital Technology Trust AGM on 10 September 2025, shareholders
voted overwhelmingly in favour of the Company's continuation, with
approximately 99% of votes cast supporting the resolution.

 

"As I begin my tenure as CEO, I am proud to lead a firm that continues to
demonstrate resilience and a clear sense of purpose. With signs emerging of a
more supportive environment for active managers, Polar Capital is in a strong
position as a specialist boutique. While macroeconomic uncertainty and
investor caution persist, our focus remains on delivering long-term results
for our clients and shareholders. Supported by significant fund capacity,
improving performance across our active strategies, and the dedication of our
talented teams, I am confident Polar Capital is well positioned for the years
ahead."

 

 

For further information please contact:

 

 Polar Capital                             +44 (0)20 7227 2700

 Iain Evans (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

 Thomas Philpott

 Camarco - PR                              +44 (0)20 3757 4980

 Ed Gascoigne-Pees

 Jennifer Renwick

 Phoebe Pugh

 

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