AuM Update

Polar Capital Holdings PLC

12 October 2026

 

12 October 2026

Polar Capital Holdings plc

Trading Update

Polar Capital Holdings plc (“Polar Capital” or the “Group”), the specialist active asset management group, today provides an update in respect of the three months to 30 September 2026.

Group Assets Under Management (AuM) (unaudited)

• AuM as at 30 September 2026 was £43.7bn.
• Net inflows of £1.2bn over the quarter.
• Net inflows of £3.6bn over the six months to 30 September 2026.

AuM movement in three months to 30 September 2026
	Open ended Funds  (£m)	Investment Trusts (£m)	Segregated mandates (£m)	Total (£m)
AuM at 1 July 2026	34,573	9,594	826	44,993
Net flows	1,102	(2)	60	1,160
Market movement and performance	(2,103)	(304)	(41)	(2,448)
Total AuM at 30 September 2026	33,572	9,288	845	43,705

AuM movement in six months to 30 September 2026
	Open ended Funds  (£m)	Investment Trusts (£m)	Segregated mandates (£m)	Total (£m)
AuM at 1 April 2026	23,424	6,605	604	30,633
Net flows	3,514	(48)	154	3,620
Market movement and performance	6,634	2,731	87	9,452
Total AuM at 30 September 2026	33,572	9,288	845	43,705

Net performance fee profits (unaudited)

The table below shows the Group’s net performance fee profit position, after deducting staff interests. The figures reflect accrued performance fees in Group-managed funds three months before the relevant fees are due to crystallise. There is no certainty that these fees will be sustained over the next quarter, as performance fees can be volatile.

Performance fees net of staff interests (All figures in £m)	Six months to 30 Sep 25	12 months to 31 Mar 26 (year-end)	Six months to 30 Sep 26
Received	-	16.1	-
Accrued in underlying funds with year ends on or before the financial year end	15.0	n/a	8.8*
Total net performance fee profits	15.0	16.1	8.8*

*The figures exclude £0.2m of net performance fee distributions (staff interests) that are deferred into future periods for accounting purposes, and which should be deducted from the total performance fee profit figure for the purposes of calculating adjusted total earnings per share.

Iain Evans, Chief Executive, commented:

“Positive momentum continued during the second quarter, with net inflows of £1.2bn in the three months to 30 September, taking net inflows for the first half of the financial year to £3.6bn. This compares with net outflows of £690m in the corresponding six-month period last year and net inflows of £902m for the prior financial year as a whole.

“Assets under management were £43.7bn at 30 September, approximately 43% higher than the £30.6bn reported at the beginning of the financial year. Strong net inflows during the quarter were more than offset by adverse market movements, with AuM approximately 3% lower than the £45.0bn reported at 30 June.

“Demand was strongest for our differentiated specialist strategies, led by Global Technology and Artificial Intelligence. Healthcare, including Biotechnology, Smart Energy and several other strategies also contributed to net inflows. Client engagement remained high, particularly in Europe and Asia, while the geographic mix of new business continued to broaden.

“Strong investment performance across several of our principal growth franchises continued to support client demand.

“The external environment remains uncertain, with investor allocations influenced by market volatility, geopolitical developments and changing risk appetite. Against this backdrop, we believe that specialist active managers with a clear investment edge, strong performance and exposure to long-term structural themes remain well positioned.”

Polar Capital plans to announce its interim results for the half year ended 30 September 2026 on 24 November 2026.

For further information please contact:

Polar Capital Iain Evans (Chief Executive) Samir Ayub (Chief Financial Officer)	[phone]
Deutsche Numis – Nomad and Joint Broker Charles Farquhar Duncan Monteith Rajesh Iyer	[phone]
Peel Hunt LLP – Joint Broker Andrew Buchanan Thomas Philpott	[phone]
Camarco – PR Ed Gascoigne-Pees Jennifer Renwick Phoebe Pugh	[phone]

 

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