AUM Update

RNS Number : 0432C

Polar Capital Holdings PLC

11 April 2013

 



11 April 2013

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").

Group AUM (unaudited)

As at 31 March 2013 the Group's AUM increased to over $7.20bn from the $6.02bn at December 2012 and from the $5.08bn reported at 31 March 2012.

The table below sets out the movements in the Group's AUM over the twelve-month period:

AUM movement Twelve months to 31 March 2013	Long only funds $m	Hedge funds $m	Total $m
As at 31 March 2012	$4,365m	$718m	$5,083m
Net subscriptions	$1,533m	$85m	$1,618m
Market movement and performance	$473m	$34m	$507m
Total AUM at 31 March 2013	$6,371m	$837m	$7,208m

Comment

In spite of the challenging market conditions over the last 12 months the Group has continued to make good progress. Investment performance has remained strong, one new team has been added and two new funds were launched. AUM increased 41% over the period with net inflows of over $1.6bn for the year.  Inflows of over $690m in the most recent quarter followed the $518m of net inflows the quarter before. Inflows were seen into a wide range of products.

Although the improvement in markets during the last quarter has been helpful, we expect market conditions to remain volatile and this may well have an effect on the level of fund inflows in the near term. We do however consider that the Group is well positioned to grow further over the coming twelve months assuming market conditions do not deteriorate materially.

For further information please contact:

Polar Capital Tim Woolley (CEO) John Mansell (CFO)	[phone]
Canaccord Genuity - Nomad and Broker Simon Bridges Cameron Duncan	[phone]
F T I Consulting Ed Gascoigne-Pees Jack Hickey	[phone]

 

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