Polar Capital Share Discussion Threads

[davethehorse] 29/11/2023 09:26

Breaking out of the downtrend, ex div on the 14th Dec.

[thelongandtheshortandthetall] 26/11/2023 20:28

its on youtube pj84

[pj84] 26/11/2023 19:57

Skinny the link shows the link to register for the presentation on Friday but it doesn't appear to allow you to catch up on the presentation. Did you listen or is their a link to a recording?

[davethehorse] 24/11/2023 10:21

Don't forget to register and watch the interim investor presentation later ....11.45...https://www.equitydevelopment.co.uk/news-and-events/polarcapital-investor-presentation-24november2023

[davethehorse] 22/11/2023 21:03

Will be interesting to find out what the inflows were into the respective Polar funds during November, by all accounts, especially Tech, its been a cracking month, best since 2021...;-)

[davethehorse] 22/11/2023 12:34

Looks like a break out past resistance at around 450p on the cards here, should be a swift move up to 500p if the markets behave. With interest rate cuts early next year more likely now there could be a decent re rate from here, good luck holders

[davethehorse] 22/11/2023 10:04

Maybe M&A activity thrown in too....risk/reward looks very good here imo...

[diviincomesearch] 21/11/2023 13:14

It’s a high beta play. The balance sheet is pretty strong, if we have another year of no performance fees and no AuM growth, that puts a lot of pressure on the viability of the divi at current levels.

8% yield say would still be very attractive.

Need markets to get above the 2021 November highs to have any future hope of performance fees for most of the funds.

Been a good tick up for tech names and others over the last month but the momentum needs to be sustained.

Most of the costs we have are fixed except for performance fees shared with the fund managers, so a rise in the markets/inflows is predominantly all going on the bottom line!

[davethehorse] 21/11/2023 10:48

Have taken a stake here, great value to be had ;-)

[davidosh] 20/11/2023 09:55

Polar Capital will be one of the companies presenting at MelloLondon at the end of this month and they have a stand and will do three presentations on Thursday the 30th November.

The event will take place at the Clayton Conference Centre, Chiswick on Wednesday 29th and Thursday 30th November, where you can expect over 500 investors, 40 Aim listed companies and 10 or so Trusts and Funds.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

For more information, visit

[mister md] 20/11/2023 09:43

Keep buying and holding for long-term rewards, great combination of large dividend & potential capital growth.

[mngf] 20/11/2023 09:36

AUM pretty much flat, great result

[t-trader] 20/11/2023 07:53

Decent performance during tough times.

Great dividend yield and plenty of share price appreciation to come, whats not to like?

[edmonda] 20/11/2023 07:42

Navigating tough markets better than most - detailed research note with audio summary

Link is here:

AUM was slightly down by -0.4% to £19.1bn over H1-24 (to 30 Sep 23). This was however a relatively strong performance compared to most other asset managers. Amidst widespread sector outflows, only two from an 11-strong London-listed peer group outperformed Polar on AUM movement over H1, with some recording falls of more than 10% (see page 2).

Investment performance was +£546m, net flows -£581m, and fund closures -£50m. Average AUM was up on H2-23 but down y-o-y from £20.0bn in H1-23 to £19.4bn, with the H1-23 average still somewhat elevated as the full impact of Russia’s invasion of Ukraine had not hit markets (page 4).

We believe Polar is well-positioned to return to growth. It has an enviable track record of investment outperformance; its multi-niche strategy should prove attractive to asset owners; history suggests active management bounces back after market falls; and its net-flow position is certainly improving.

Our fundamental valuation is 575p per share, 27% above the share price, and the sharp falls in asset manager valuations look over-done to us, especially in light of recent M&A activity.

[masurenguy] 20/11/2023 07:12

Unaudited interim results for six months ended 30 September 2023

"Strong pipeline of interest in our diversified thematic strategies, improving fund performance and balance sheet strength support a maintained first interim dividend" Gavin Rochussen, CEO

Highlights

-- Assets under Management ("AuM") at 30 September 2023 GBP19.1bn (31 March 2023: GBP19.2bn) and at 10 November 2023 GBP18.9bn.

-- Net outflows of GBP581m, a material decrease of GBP264m vs the prior comparable period, aided by inflows into a number of funds.

-- Core operating profit GBP22.5m (30 September 2022: GBP25.8m)
-- Profit before tax GBP21.1m (30 September 2022: GBP23.0m)
-- Basic earnings per share 16.2p (30 September 2022: 17.7p) and adjusted diluted total earnings per share 17.2p (30 September 2022: 19.0p)

-- Interim dividend per ordinary share of 14.0p (January 2023: 14.0p) declared to be paid in January 2024. The dividend payment date is 12 January 2024, with an ex-dividend date of 14 December 2023 and a record date of 15 December 2023.

Gavin Rochussen, Chief Executive Officer, commented: "The past six months have been a challenging period for equity markets driven by a volatile macro environment. Like many of our peers, Polar Capital has not been immune from these challenges, but net outflows as a percentage of opening AuM have been relatively modest, and in fact, have materially slowed vs the prior comparable period. This was helped by net inflows into a number of funds, namely our Polar Capital Emerging Market Stars Fund, Polar Capital European ex-UK income Fund, Polar Capital Japan Value Fund and Polar Capital Smart Energy Fund. Long-term performance remains positive across the UCITs fund range with all funds bar one in the 1(st) or 2(nd) quartile of their Lipper peer group since inception. More recently, 77% of Polar Capital's total AuM is in the top two quartiles of the Lipper peer group calendar year-to-date. As a result, and helped by a strong year for technology stocks, assets under management ended the reporting period at GBP19.1bn, representing a modest decrease from the year end.

As an investment led, specialist boutique, the quality of our product range remains central to our efforts to grow the business and a number of our funds have seen renewed interest of late. For example, the well documented breakthrough in artificial intelligence has seen an increased interest in the Polar Capital Artificial Intelligence Fund. It had its six-year anniversary in October 2023 and is 3(rd) percentile against Lipper peers over one year, 5(th) percentile over five years and 4(th) percentile since inception. Similarly, the Polar Capital Global Insurance Fund has seen renewed interest given its defensive characteristics. It recently passed its 25-year anniversary and since launch it has delivered strong and consistent annualised returns to investors of circa 10% pa (Source: Polar Capital, 30 September 2023. R GBP Acc share class with reinvestment of dividends and capital gain distributions, in Pounds Sterling).

In the six months, the largest beneficiary of net inflows was our Emerging Market Stars fund range, which garnered a combined total of GBP244m of net inflows, despite the tough backdrop and muted investor demand for the asset class. The Emerging Markets and Asia Stars team now collectively manage GBP1.5bn and there has been continued progress in the US with US domiciled fund vehicles surpassing GBP125m. The Smart funds managed by the Sustainable Thematic team have now reached AuM of GBP280m. The Nordic region has continued to grow through additional flows into the Polar Capital Emerging Market Stars Fund and there is emerging interest in the Polar Capital Smart Energy and Smart Mobility funds.

Pleasingly, Polar Capital won the 2023 European Asset Management Firm of the Year ( EUR20bn-EUR100bn) award at the Funds Europe 2023 awards, which is testament to the quality of our offering. We continue to invest in our digital marketing reach and have intensified our client contact interactions to utilise our significant remaining fund capacity. This, given our differentiated range of sector, thematic and regional fund strategies, gives us confidence that we will perform for our clients and shareholders over the long term."

[mister md] 31/10/2023 08:46

And another + 3% ...

[mister md] 30/10/2023 13:58

Relatively low # of shares in issue / relatively illiquid causing quite an exaggerated drop in shareprice over the past month.

Good to see it can go up 3% in a day too.

[sebass] 27/10/2023 16:12

Thanks Davidsosh really appreciate the effort into organising these events

[davidosh] 27/10/2023 15:58

sebass....We will be announcing ten every Tuesday.

Here are the ten from last Tuesday....



We have not announced Polar Capital as yet

[mister md] 27/10/2023 14:08

Added to holding 4 times in past week or so with dividends from elsewhere ...

[sebass] 26/10/2023 08:40

Davidosh great event how do you find out which companies will be presenting rather than the companies who have presented in the past?