AUM Update

RNS Number : 9517T
Polar Capital Holdings PLC
12 January 2017
 

12 January 2017                               

Polar Capital Holdings plc

AUM Update

 

Polar Capital Holdings plc ("Polar Capital" or the "Group"), the boutique investment management group, today provides its regular quarterly update of its unaudited statement of its Assets under Management ("AUM").

 

Group AUM (unaudited)

 

Polar Capital reports that as at 31 December 2016 its AUM were £8.4bn compared to £7.3bn at the end of March 2016.

 

AUM movement in

nine months to

31 December 2016

USD

GBP

Long only

Funds

Alternative funds

Total

Long only

funds

Alternative funds

Total

AUM at

31 March 2016

$9,378m

$1,054m

$10,432m

£6,531m

£734m

£7,265m

Net subscriptions

/ (redemptions)

$(722)m

$56m

$(666)m

£(493)m

£45m

£(448)m

Market movement

and performance

$653m

$(45)m

$608m

£1,506m

£84m

£1,590m

Total AUM at

31 December 2016

$9,309m

$1,065m

$10,374m

£7,544m

£863m

£8,407m

 

Comment

 

In mid-December we released our interim results and at the time provided guidance that the US election result in November had triggered a noticeable change in flows into our funds. December has continued in the same vein that November finished and it is pleasing to report that more than £100m of net inflows were received in the month into our products, giving a total net flow for the quarter of over £300m.

 

On a less positive note the performance fees earned in the year were below the level of last year although this was the 16th consecutive year that such fees have been earned.

 

Whilst this was not our best year in terms of overall investment performance, our medium and longer term performance numbers on our UCITS products remain extremely strong, as shown in the table below. Thirteen of our eighteen Lipper rated UCITS funds are top quartile since launch, eight of which are top decile, whilst the other five funds are second quartile (as at 31 December 2016).

 

1 year

3 years

5 years

Since

inception

1st quartile

7 funds

8 funds

6 funds

13 funds

2nd quartile

5 funds

2 funds

2 funds

5 funds

3rd quartile

6 funds

3 funds

1 fund

0 funds

4th quartile

0 funds

1 fund

1 fund

0 funds

 

 

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 nine months of the Group's financial year.

 

Performance fees

net of staff allocations

Nine months to

31 Dec 15

Year to

31 Mar 16

(year-end)

Nine months to

31 Dec 16

Received

£3.0m

£3.0m

£1.1m

Accrued but not yet earned in funds with year ends on or before the financial year end

-

-

-

Total net performance fees

£3.0m

£3.0m

£1.1m

 

 

 

For further information please contact:

 

Polar Capital

Tim Woolley (CEO)
John Mansell (COO)

+44 (0)20 7227 2700

Canaccord Genuity - Nomad and Joint Broker

Simon Bridges  (QE)

Andrew Buchanan

Kit Stephenson

+44 (0)20 7523 8000

 

Peel Hunt - Joint Broker

Guy Wiehahn

+44 (0)20 7418 8893

Camarco

Ed Gascoigne-Pees

 

+44 (0)20 3757 4984

 

 


This information is provided by RNS
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