AUM Update

RNS Number : 0907Q

Polar Capital Holdings PLC

13 October 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").

Group AUM (unaudited)

As at 30 September 2011 the Group's AUM increased to $3.94bn from the $3.88bn reported at 31 March 2011.

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

AUM movement Six months to 30 September 2011	Long only funds $m	Hedge funds $m	Total $m
As at 31 March 2011	$3,104m	$771m	$3,875m
Performance and currency movements	$(511)m	$(54)m	$(565)m
Net subscriptions / (redemptions) from ongoing businesses	$706m	$(73)m	$633m
Total AUM at 30 September 2011	$3,299m	$644m	$3,943m

Comment

In spite of the turbulent market conditions we are pleased to report an increase in overall AUM for the six months to the end of September 2011. We are also pleased to report net inflows for the six month period of $633m, with $160m being received in the latest quarter. Given the ongoing uncertainty surrounding the European debt crisis, we remain cautious on the outlook for net inflows over the coming quarters.

Net performance fees (unaudited)

The table below sets out the position relating to net performance fees (after the deduction of staff interests) earned and accrued in the first six months of the Group's financial year. The majority of performance fees from the funds crystallise in the second half of the financial year.

Performance fees net of staff allocations	Six months to 30 Sept 10 £m	Year to 31 Mar 11 (year end) £m	Six months to 30 Sept 11 £m
Received	£0.5m	£5.7m	£1.5m
Accrued but not yet earned in funds with year ends on or before the financial year end	£2.4m	n/a	£1.6m
Total net performance fees	£2.9m	£5.7m	£3.1m