Polar Capital Holdings PLC AUM Update (3750C)

TIDMPOLR

RNS Number : 3750C

Polar Capital Holdings PLC

13 April 2017

13 April 2017

Polar Capital Holdings plc

AUM Update

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the boutique investment management group, today provides its regular quarterly update of its unaudited statement of its Assets under Management ("AUM").

Group AUM (unaudited)

Polar Capital reports that as at 31 March 2017 its AUM were GBP9.3bn compared to GBP7.3bn at the end of March 2016.

 
 AUM movement                        USD                                  GBP 
  in 
  twelve months 
  to 
  31 March 
  2017 
-------------------  ----------------------------------  ------------------------------------ 
                        Long     Alternative    Total       Long      Alternative     Total 
                        only        funds                    only        funds 
                        funds                               funds 
-------------------  ---------  ------------  ---------  ----------  ------------  ---------- 
 AUM at 
  31 March 
  2016                $9,378m      $1,054m     $10,432m   GBP6,531m     GBP734m     GBP7,265m 
-------------------  ---------  ------------  ---------  ----------  ------------  ---------- 
 Net subscriptions 
  / (redemptions)     $(377)m      $(19)m      $(396)m    GBP(215)m    GBP(15)m     GBP(230)m 
-------------------  ---------  ------------  ---------  ----------  ------------  ---------- 
 Market movement 
  and performance     $1,600m        $2m       $1,602m    GBP2,131m     GBP107m     GBP2,238m 
-------------------  ---------  ------------  ---------  ----------  ------------  ---------- 
 Total AUM 
  at 
  31 March 
  2017                $10,601m     $1,037m     $11,638m   GBP8,447m     GBP826m     GBP9,273m 
-------------------  ---------  ------------  ---------  ----------  ------------  ---------- 
 

Comment

It is encouraging to report a second consecutive quarter of net inflows. The GBP300m+ of net inflows in the final quarter of 2016 have been followed by 2017's first quarter delivering in excess of GBP200m of net inflows.

As 2017 commences it is also reassuring to note the positive performance of the Group's portfolio of funds as demonstrated by the table below that summarises the performance of the Group's Lipper rated UCITS funds as at 31 March 2017. The table shows that twelve out of eighteen funds are top quartile since launch and more recently, eleven are top quartile over one year. From this position of strength we feel that we are well positioned to benefit from the breadth and quality of our investment product and we look into the medium term with confidence.

Against this backdrop we commence our new financial year with our business more balanced than in recent years and are hopeful that the year ahead will deliver net inflows notwithstanding a significant correction in global equity markets.

 
                   1 year    3 years   5 years     Since 
                                                  inception 
---------------  ---------  --------  --------  ----------- 
 1(st) quartile   11 funds   7 funds   7 funds    12 funds 
---------------  ---------  --------  --------  ----------- 
 2(nd) quartile   4 funds    5 funds   2 funds    6 funds 
---------------  ---------  --------  --------  ----------- 
 3(rd) quartile   3 funds    2 funds   1 fund     0 funds 
---------------  ---------  --------  --------  ----------- 
 4(th) quartile   0 funds    0 funds   1 fund     0 funds 
---------------  ---------  --------  --------  ----------- 
 

For further information please contact:

 
 Polar Capital 
  Tim Woolley (CEO)           [phone] 
  John Mansell (COO)           2700 
 Canaccord Genuity - Nomad 
  and Joint Broker 
  Simon Bridges (QE) 
  Andrew Buchanan             [phone] 
  Kit Stephenson               8000 
 Peel Hunt - Joint Broker     [phone] 
  Guy Wiehahn                  8893 
 Camarco                      [phone] 
  Ed Gascoigne-Pees            4984 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 13, 2017 02:00 ET (06:00 GMT)