TIDMPOLR

RNS Number : 5118V

Polar Capital Holdings PLC

15 April 2021

   15 April 2021                                             Polar Capital Holdings plc

AuM Update

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist asset management group, today provides its regular quarterly update of its unaudited statement of its Assets under Management ("AuM") for the financial year to 31 March 2021.

   Group AUM   (unaudited)

Polar Capital reports that as at 31 March 2021 its AuM were GBP20.9bn compared to GBP12.2bn at the end of March 2020, an increase of 71% over the year. During the period, AuM increased by GBP8.7bn which comprised net subscriptions of GBP2.1bn, inflows from reported acquisitions of GBP1.7bn, offset by outflows from a previously reported fund closure of GBP0.3bn and an increase of GBP5.2bn related to market movement and fund performance.

 
 AuM movement in twelve            Long-only    Alternative     Total 
  months to 31 March 2021             funds        funds 
 AuM at 1 April 2020               GBP11,078m    GBP1,083m    GBP12,161m 
                                  -----------  ------------  ----------- 
 Net subscriptions/(redemptions)   GBP2,130m     GBP(22)m     GBP2,108m 
                                  -----------  ------------  ----------- 
 Reported acquisitions             GBP1,618m      GBP81m      GBP1,699m 
                                  -----------  ------------  ----------- 
 Closure of fund                       -         GBP(301)m    GBP(301)m 
                                  -----------  ------------  ----------- 
 Market movement and performance   GBP5,023m      GBP173m     GBP5,196m 
                                  -----------  ------------  ----------- 
 Total AuM at 31 March             GBP19,849m    GBP1,014m    GBP20,863m 
  2021 
                                  -----------  ------------  -----------

Gavin Rochussen, Chief Executive, commented:

"AuM increased by 10% over the quarter to 31 March and by 71% over the year from GBP12.2bn on 1 April 2020 to GBP20.9bn on 31 March 2021. The increase in AuM of GBP8.7bn comprised net inflows of GBP2.1bn, an increase of GBP1.7bn due to the arrival of the Phaeacian and Dalton teams, a reduction of GBP0.3bn due to a fund closure, and market movement and fund performance added GBP5.2bn.

"We are pleased to report a good finish to the financial year in terms of flow momentum with net inflows into 14 of our funds amounting to GBP643m in the quarter ended 31 March. The fact we have also increased our AuM to over GBP20bn, doubling the size of our business over three and a half years, is testament to our strategic focus of offering a diversified range of funds whilst maintaining a rigorous focus on performance and active management.

"It is also pleasing that the pipeline for flows into our Emerging Markets Stars range of funds, which have sustainability at the core of their processes, continues to remain strong as the funds approach their three-year track records at Polar Capital.

"Fund performance across our fund range in the current calendar year is resilient with 57% of our funds outperforming benchmark calendar year to date.

"On a three-year annualised basis, 78% of AuM has performed ahead of benchmark at the end of March.

"70% of AuM in our UCITS fund range is ranked in the first quartile against peers in the Lipper universe over three years.

"The integration of the Dalton business onto the Polar Capital platform continues according to schedule and is anticipated to be completed by our financial half-year end.

"We remain confident that with our diverse range of funds and focus on performance in our actively managed complementary funds we are positioned to continue to perform well for our clients and will continue to generate net inflows. The net inflow momentum of the last quarter has continued into the first two weeks of April."

Polar Capital aims to announce its results for the financial year to 31 March 2021 on 1 July 2021.

For further information please contact:

 
 Polar Capital 
  Gavin Rochussen (Chief Executive) 
  John Mansell (Executive Director) 
  Samir Ayub (Finance Director)           +44 (0)20 7227 2700 
  Numis Securities Limited - Nomad and 
   Joint Broker 
   Charles Farquhar 
   Stephen Westgate 
   Kevin Cruickshank (QE)                  +44 (0)20 7260 1000 
  Peel Hunt LLP - Joint Broker 
   Andrew Buchanan 
   Rishi Shah                              +44 (0)20 3597 8680 
  Camarco 
   Ed Gascoigne-Pees 
   Jennifer Renwick 
   Monique Perks                           +44 (0)20 3757 4995

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