TIDMPOLR

RNS Number : 8478F

Polar Capital Holdings PLC

13 July 2023

   13 July 2023                                                        Polar Capital Holdings plc

AuM Update

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the specialist active asset management group, today provides its quarterly update of its unaudited statement of its Assets under Management ("AuM").

Group AuM (unaudited)

Polar Capital reports that as at 30 June 2023 its AuM was GBP19.7bn compared to GBP19.2bn at the end of March 2023, an increase of 3% over the quarter. In the quarter, AuM decreased by net outflows of GBP0.2bn, fund closure of GBP7m and a GBP0.7bn increase related to market movement and fund performance.

 
               AuM movement in three months to 30 June 2023 
                        Open ended   Investment   Segregated     Total 
                           funds       Trusts      mandates 
                       -----------  -----------  -----------  ----------- 
 AuM at 1 April 2023    GBP14,281m   GBP3,910m    GBP1,029m    GBP19,220m 
                       -----------  -----------  -----------  ----------- 
 Net outflows           GBP(132)m     GBP(39)m     GBP(30)m    GBP(201)m 
                       -----------  -----------  -----------  ----------- 
 Fund closures (1)       GBP(7)m         -            -         GBP(7)m 
                       -----------  -----------  -----------  ----------- 
 Market movement         GBP377m      GBP317m       GBP6m       GBP700m 
  and performance 
                       -----------  -----------  -----------  ----------- 
 Total AuM at 30 June   GBP14,519m   GBP4,188m    GBP1,005m    GBP19,712m 
  2023 
                       -----------  -----------  -----------  -----------

(1) Return of funds to investors on closure of the Melchior European Absolute Return fund.

Gavin Rochussen, Chief Executive, commented:

"There has been continued demand and inflows into the Sustainable Emerging Market Stars, European ex-UK Income, Healthcare Blue Chip, Biotechnology and Smart Energy Funds with combined net inflows of GBP313m across these funds in the quarter.

"Total AuM in the quarter increased by GBP0.5bn from GBP19.2bn to GBP19.7bn, a 3% increase.

"Net outflows in the quarter of GBP201m compares to net outflows of GBP410m in the previous quarter.

"During the quarter, the rate of net outflows from open-ended Technology funds continued to decline, with GBP103m of net outflows compared to GBP199m in the previous quarter.

"With significant fund capacity and improving relative fund performance, we remain confident that, with our diverse range of active specialist fund strategies, we are well positioned to perform for our clients and shareholders over the long term."

For further information please contact:

 
 Polar Capital 
  Gavin Rochussen (Chief Executive) 
  Samir Ayub (Finance Director)        +44 (0)20 7227 2700 
 
   Numis Securities Limited - Nomad 
   and Joint Broker 
   Giles Rolls 
   Charles Farquhar 
   Stephen Westgate                      +44 (0)20 7260 1000 
 
   Peel Hunt LLP - Joint Broker 
   Andrew Buchanan 
   John Welch 
   Sam Milford                           +44 (0) 20 3597 8680 
 Camarco 
  Ed Gascoigne-Pees 
  Jennifer Renwick 
  Phoebe Pugh                          +44 (0)20 3757 4995

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END

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July 13, 2023 02:00 ET (06:00 GMT)

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