Polar Capital Holdings PLC AUM Update (5307B)
January 11 2018 - 2:00AM
UK Regulatory
TIDMPOLR
RNS Number : 5307B
Polar Capital Holdings PLC
11 January 2018
11 January 2018 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") and performance fees earned for the calendar
year to 31 December 2017.
Group AUM (unaudited)
Polar Capital reports that as at 31 December 2017 its AUM were
GBP11.7bn compared to GBP9.3bn at the end of March 2017. AUM
increased by GBP1.1bn in the quarter of which GBP597m were net
inflows and GBP507m related to market movement and performance.
AUM movement in Long only Alternative Total
nine months to funds funds
31 December 2017
------------------ ----------- ------------ -----------
AUM at GBP8,447m GBP826m GBP9,273m
31 March 2017
------------------ ----------- ------------ -----------
Net subscriptions GBP1,145m GBP272m GBP1,417m
------------------ ----------- ------------ -----------
Market movement GBP952m GBP65m GBP1,017m
and performance
------------------ ----------- ------------ -----------
Total AUM at GBP10,544m GBP1,163m GBP11,707m
31 December 2017
------------------ ----------- ------------ -----------
Comment
The Group has had a satisfactory quarter with pleasing net
inflows despite the termination of four underperforming funds
during the quarter.
This update confirms that the momentum of net inflows over the
past quarters has continued and the final performance fee profits
for the year that crystallised at the end of December are a
significant improvement on last year's figure.
It is encouraging to report that the Group's investment teams
are well placed in terms of performance and fund flows to continue
their growth into 2018. The Group has a firm footing from which to
implement its strategy of diversifying investment strategies,
client domicile and client segments.
Net performance fees (unaudited)
The table below sets out the position relating to net
performance fee profits (after the deduction of staff interests)
earned in the first nine months of the Group's financial year.
Performance fee profit Nine months Year to Nine months
to to
net of staff allocations 31 Dec 16 31 Mar 17 31 Dec 17*
(year-end)
-------------------------- ------------- ------------- ---------------
Net performance fee GBP1.2m GBP1.2m GBP15.0m*
profit
-------------------------- ------------- ------------- ---------------
*The figures to December 2017 are enhanced by GBP2.4m due to the
IFRS requirement for the cost of deferred staff allocations to be
spread over the period of deferment. The amount of net deferral
will be reflected in the Adjusted Earnings Per Share figure that
will be reported at the financial year-end.
For further information please contact:
Polar Capital
Gavin Rochussen (Chief Executive) +44 (0)20 7227
John Mansell (COO) 2700
Canaccord Genuity - Nomad
and Joint Broker
Simon Bridges (QE)
Andrew Buchanan +44 (0)20 7523
Margarita Mitropoulou 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
END
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