Polar Capital Share Discussion Threads

[topvest] 10/12/2022 14:33

Yes, agreed. I am very positive long-term but may have another drop to come before it takes off again.

[rcturner2] 07/12/2022 06:58

I do subscribe to Stocko, I find it very useful. I have a decent stake here, this is my biggest holding currently. I think at 500p it is fair value to a large extent. It is a decent well run business, but I suspect that it is in a bit of a "pause" at the moment, waiting for a future rally in equities.

[brucie5] 06/12/2022 22:17

Ah, RCT - well met again. I take it you're not impressed by Mark Simpson's analysis? Or do you not subscribe to Stocko?

[rcturner2] 06/12/2022 21:02

Well the dividend is uncovered. If you take eps at 40p and have a range of PE from 10 to 15 then current 494p is pretty much midway between them.

[brucie5] 06/12/2022 15:29

Depending on whether you look at the smas or wmas, this is either being held down, or has just been let loose! I tend to favour the latter, which probably shows confirmation bias as a I have just added. But the dividend alone makes it highly attractive, while receiving a 98/100 for quality on Stocko. Also featured on Mark Simpson's recent list of Buffet-esque 'wonderful companies' - on several of his screens. Al this while yielding >9%. What are we missing?

hxxps://app.stockopedia.com/content/using-buffetts-principles-to-narrow-the-field-of-wonderful-companies-958113?order=createdAt&sort=desc&mode=threaded

Three companies feature on five of the Top 20 lists: Polar Capital Holdings (LON:POLR) Best Of The Best (LON:BOTB) and M Winkworth (LON:WINK)

[edmonda] 27/11/2022 14:51

Investor Presentation video - November 2022 (Interim Results)

Polar Capital Holdings plc (AIM: POLR), the specialist active asset management group, conducted a presentation covering its Interim Results for the six months ended 30 September 2022.

Gavin Rochussen (Chief Executive Officer) and Samir Ayub (Finance Director) ran investors through the key highlights of the period, a detailed financial review, and provided an update on fund performance as well as AuM & Fund Flows. The management team also answered investor questions.

If you missed the live event, you can watch the full presentation replay, which has been divided into chapters for ease of viewing:
0:00:03 Overview & Highlights
0:01:14 Market Perspective
0:03:05 Fund Performance & Capacity
0:07:53 AuM & Fund Flows
0:12:21 Financial Review
0:23:07 Strategy & Outlook
0:29:00 Questions & Answers

Link to video:

[patient fox] 25/11/2022 16:26

Polar results presentation now on YouTube.the board now starting to look at buying fixed interest bonds.

[masurenguy] 25/11/2022 15:18

Building up to a second attempt this month to breach 500p!

[edmonda] 21/11/2022 12:44

"Core profit margin still over 30% in brutal markets" (new research report)

Link to full report and audio summary:

AUM fell 15% in H1-23, from £22.1bn on 1 Apr 22 to £18.8bn on 30 Sep 22. Unsurprisingly, given the widespread sell-off in equities, investment performance accounted for -£2.1bn of the fall, with net outflows of -£0.8bn, and the closure of the Phaeacian funds in the US -£0.5bn.

Despite gloomy markets, there are multiple positive signals and signs of management confidence:
- Positive net inflows were recorded in multiple funds, including Global Insurance, Biotechnology, Healthcare Blue Chip, Smart Energy, European ex-UK Income, Emerging Market Stars, Forager and Global Absolute Return, and net outflows from open-ended Technology funds have slowed.
- Polar has reported a strong pipeline of investor interest in multiple strategies, and that the short list of new potential investment teams is larger than for many years.
- The board has declared an interim dividend of 14.0p per share, unchanged from H1-22 (if the total full-year dividend is maintained at 46p, that would be a yield of 9.7% at today’s share price).
- Directors’ have made over £2.2m of share purchases, in cash, during 2022.

We maintain confidence in the strength of Polar’s strategic positioning, and that it is well positioned to return to growth, despite significant short-term uncertainty. Our fundamental valuation is 600p per share, 27% above the current share price, and we flag that Polar’s PER of 9.3, is undemanding and below a peer group median of 10.0.

[brucie5] 21/11/2022 08:23

Div maintained.

[masurenguy] 21/11/2022 07:20

Unaudited interim results for six months ended 30 September 2022

"Strong pipeline of interest in diversified 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 2022 £18.8bn (31 March 2022 £22.1bn) and at 11 November 2022 £19.2bn
-- Core operating profit £25.8m (30 September 2021: £36.3m)
-- Pre-tax profit £23.0m (30 September 2021: £31.7m)
-- Basic earnings per share 17.7p (30 September 2021: 26.5p) and adjusted diluted total earnings per share 19.0p (30 September 2021: 28.1p)
-- Interim dividend per ordinary share of 14.0p (January 2022: 14.0p) to be paid in January 2023
-- Shareholders' funds £141.3m (31 March 2022: £156.2m) including cash and investments of £129.2m (31 March 2022: £169.4m)

Gavin Rochussen, Chief Executive Officer, commented: "The last six months have been challenging for all asset management firms, whatever their size or business model. At some point, as inflation stabilises and interest rates peak, investors will require increased market exposure and we are well placed to benefit from this demand. Against this background, we are pleased to report that there is a strong pipeline of interest in many of Polar Capital's strategies and the short list of new potential investment teams is larger than for many years."

In the 6 months to 30 September 2022, AuM declined by £3.3bn from £22.1bn to £18.8bn, a decrease of 15% over the period which comprised of net redemptions of £0.8bn, outflows from previously reported fund closures of £0.5bn and £2.0bn decrease relating to market movement and fund performance. Despite the reduction in adjusted diluted core EPS, the first interim dividend has been maintained at 14p, reflecting our confidence in the business and strength of our balance sheet."

The Group launched two new Article 9 strategies one year ago, Smart Energy and Smart Mobility, investing in decarbonisation, electrification and sustainable transport themes. Our sustainable thematic equity team, led by Thiemo Lang, has been successful in raising assets and both funds have delivered returns ahead of the MSCI All Countries World Index in the first half of our financial year."

With the attainment of a highly credible four-year track record since joining Polar Capital, the AuM in the sustainable Emerging Market Stars suite of fund strategies now exceeds £1.1bn and has been instrumental in establishing a meaningful and valued client base in the Nordic region and building our presence in the US. Our diverse and differentiated range of sector, thematic and regional fund strategies where 73%, 87%, 86% and 93% of our AuM is in the top two quartiles against peers over one year, three years, five years and since inception, our improved distribution capability and significant remaining capacity gives us confidence that we will perform for our clients and shareholders over the long term."

[crazycoops] 15/11/2022 13:26

From their RNSNotice of Interim ResultsPolar Capital Holdings plc ("Polar Capital" or the "Company"), the specialist active asset management group, expects to announce its Interim Results for the six months ended 30 September 2022 on Monday 21 November 2022.

[rcturner2] 15/11/2022 07:54

From their website:

"Announcement of Interim Results: Late November"

[masurenguy] 14/11/2022 08:47

Current Major Shareholders

Canaccord Genuity Wealth Ltd: 9,173,566: 9.10%
Fianchetto Ltd. (United Kingdom):7,828,573: 7.77%
Robert Steven Gurner:7,588,000: 7.53%
Harwood Capital LLP: 7,015,000: 6.96%
Unicorn Asset Management Ltd: 4,925,000: 4.89%
BlackRock Investment Management (UK) Ltd: 4,160,495: 4.13%
Artemis Investment Management LLP: 4,045,000: 4.01%
Caledonia Investments Plc: 3,999,130: 3.97%
Polar Capital Employee Benefit Trust: 3,893,183: 3.86%
Hargreaves Lansdown Stockbrokers Ltd: 3,653,000: 3.62%

[mister md] 10/11/2022 15:02

Nice move off the recent lows

[masurenguy] 28/10/2022 16:30

Added again today.

[mister md] 28/10/2022 13:33

Much better price action here lately, have been adding to this and PCT holdings

[masurenguy] 24/10/2022 07:41

Polar Capital Holdings expects to announce its Interim Results on Monday 21 November 2022.

[danb45] 19/10/2022 17:46

someone marks down every post - probably bought at the top - ouch

[masurenguy] 19/10/2022 15:35

Yes, good to see an NXD investing £750,000.

[mister md] 19/10/2022 15:25

I've added @ 416p - felt rude not to.

[mister md] 19/10/2022 14:55

Director purchase today
176,175 shares @
426.5061 pence


:-0