AUM Update

RNS Number : 4471E

Polar Capital Holdings PLC

10 April 2014

 



10 April 2014

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 Assets under Management ("AUM").

Group AUM (unaudited)

As at 31 March 2014 the Group's AUM had increased by 2% to over $13.2bn from the $13.0bn at 31 December 2013 and increased by 83% from the $7.2bn reported at 31 March 2013.

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

AUM movement Twelve months to 31 March 2014	Long only funds $m	Alternative funds $m	Total $m
As at 31 March 2013	$6,371m	$837m	$7,208m
Net subscriptions	$4,914m	$28m	$4,942m
Closure of UK team	$(252)m	$(41)m	$(293)m
Market movement and performance	$1,282m	$110m	$1,392m
Total AUM at 31 March 2014	$12,315m	$934m	$13,249m

Comment

Despite the challenging market conditions of the past quarter, we are pleased to report a further increase in our AUM. Net inflows during the quarter were over $750m across a range of products and they more than offset the reduction in assets due to adverse market movements.

Markets have made an uncertain start to 2014 but assuming they do not deteriorate from recent levels we remain well positioned to continue to grow our assets and profits further in our new fiscal year.

For further information please contact:

Polar Capital Tim Woolley (CEO) John Mansell (CFO)	[phone]
Canaccord Genuity - Nomad and Broker Simon Bridges  (QE) Martin Green Cameron Duncan	[phone]
F T I Consulting Neil Doyle Jack Hickey	[phone]

 

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