Polar Capital Holdings PLC AUM Update (9517T)
January 12 2017 - 2:00AM
UK Regulatory
TIDMPOLR
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
GBP8.4bn compared to GBP7.3bn at the end of March 2016.
AUM movement USD GBP
in
nine months
to
31 December
2016
------------------- --------------------------------- ------------------------------------
Long Alternative Total Long Alternative Total
only funds only funds
Funds funds
------------------- -------- ------------ --------- ---------- ------------ ----------
AUM at
31 March
2016 $9,378m $1,054m $10,432m GBP6,531m GBP734m GBP7,265m
------------------- -------- ------------ --------- ---------- ------------ ----------
Net subscriptions
/ (redemptions) $(722)m $56m $(666)m GBP(493)m GBP45m GBP(448)m
------------------- -------- ------------ --------- ---------- ------------ ----------
Market movement
and performance $653m $(45)m $608m GBP1,506m GBP84m GBP1,590m
------------------- -------- ------------ --------- ---------- ------------ ----------
Total AUM
at
31 December
2016 $9,309m $1,065m $10,374m GBP7,544m GBP863m GBP8,407m
------------------- -------- ------------ --------- ---------- ------------ ----------
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 GBP100m of net inflows were
received in the month into our products, giving a total net flow
for the quarter of over GBP300m.
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
--------------- -------- -------- -------- -----------
2(nd) quartile 5 funds 2 funds 2 funds 5 funds
--------------- -------- -------- -------- -----------
3(rd) quartile 6 funds 3 funds 1 fund 0 funds
--------------- -------- -------- -------- -----------
4(th) 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 Nine months Year to Nine months
to to
net of staff allocations 31 Dec 15 31 Mar 16 31 Dec 16
(year-end)
-------------------------- ------------- ------------- -------------
Received GBP3.0m GBP3.0m GBP1.1m
-------------------------- ------------- ------------- -------------
Accrued but not yet - - -
earned in funds with
year ends on or before
the financial year
end
-------------------------- ------------- ------------- -------------
Total net performance GBP3.0m GBP3.0m GBP1.1m
fees
-------------------------- ------------- ------------- -------------
For further information please contact:
Polar Capital
Tim Woolley (CEO) +44 (0)20 7227
John Mansell (COO) 2700
Canaccord Genuity - Nomad
and Joint Broker
Simon Bridges (QE)
Andrew Buchanan +44 (0)20 7523
Kit Stephenson 8000
Peel Hunt - Joint Broker +44 (0)20 7418
Guy Wiehahn 8893
Camarco +44 (0)20 3757
Ed Gascoigne-Pees 4984
This information is provided by RNS
The company news service from the London Stock Exchange
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