AUM Update

RNS Number : 1390F

Polar Capital Holdings PLC

19 April 2011

 



19 April 2011

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

The Group has come to the end of an encouraging year. On the back of good performance and solid inflows Polar Capital has ended the year stronger and better placed than at the end of the previous twelve month period.  

We are pleased to report an increase of 53% in our AUM to over $3.87bn in the twelve month period to March 2011. This increase in AUM was achieved despite the closure of the Polar Capital Discovery Fund which accounted for a significant proportion of outflows in our hedge fund franchise over the reported periods.  The Group continues to be confident that its strategy of growing its established funds to capacity and expanding its product range through both hiring and acquiring new teams will drive future AUM growth.

Group AUM (unaudited)

The table below sets out the Group's AUM as at 31 March 2011 and the movements experienced in the twelve month and three month periods from 31 March 2010 and 31 December 2010 respectively:

AUM movement Twelve months to 31 March 2011	Long only funds $m	Hedge funds $m	Total $m
As at 31 March 2010	$1,575m	$955m	$2,530m
Performance and currency movements	$333m	$45m	$378m
Acquisition of HIM Capital	$249m	-	$249m
Net subscriptions / (redemptions)	$947m	$(229)m	$718m
Total AUM at 31 March 2011	$3,104m	$771m	$3,875m

AUM movement Three months to 31 March 2011	Long only funds $m	Hedge funds $m	Total $m
As at 31 December 2010	$2,655m	$851m	$3,506m
Performance and currency movements	$74m	$27m	$101m
Net subscriptions / (redemptions)	$375m	$(107)m	$268m
Total AUM at 31 March 2011	$3,104m	$771m	$3,875m

For further information please contact:

Polar Capital Tim Woolley (CEO) John Mansell (CFO)	[phone]
Numis Securities Simon Blank (Nominated Adviser) Charles Farquhar (Corporate Broking)	[phone]
Financial Dynamics Ed Gascoigne-Pees Georgina Turner	[phone]

 

END

 

 

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