AUM Update

RNS Number : 7975W

Polar Capital Holdings PLC

04 August 2009

 



4 August 2009

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').

Comment

It is encouraging to note that the anticipated drying up of redemption requests has materialised. The outflows in the first quarter of the financial year were predominantly those that had been submitted in the final quarter of the last financial year, during the three month period ending 31 March 2009. There are now some positive signs that the industry in general and Polar Capital in particular is beginning to see a change in sentiment as investors start to reinvest into both hedge as well as long only strategies.

Group AUM (unaudited)

In the three months to 30 June 2009 the Group's AUM has risen 3.1% to US$1.526bn.

The table below sets out the Group's AUM as at 30 June 2009 and the movements experienced in the three months since the Group's year end:

AUM movement 3 months to 30 June 2009	Long $m	Hedge   $m	Advisory $m	Total $m
As at 31 March 2009	$746m	$699m	$35m	$1,480m
Performance and currency movements	$177m	$38m	$5m	$220m
Net subscriptions / (redemptions) from ongoing businesses	$(76)m	$(61)m	$0m	$(137)m
Outflows from closed funds	nil	nil	$(37)m	$(37)m
Total AUM at 30 June 2009	$847m	$676m	$3m	$1,526m

For further information please contact:

Polar Capital Mark Kary John Mansell	[phone]
Numis Securities Lee Aston (Nominated Adviser) Charles Farquhar (Corporate Broking)	[phone]
Financial Dynamics  Ed Gascoigne-Pees Georgina Turner	[phone]

---

 

END

 

 

MSCEASPDELNNEFE