11th Jan 2024 10:13
(Alliance News) - Polar Capital Holdings PLC on Thursday announced that its pipeline was "strong" looking forward, as it reported assets under management growth.
The London-based investment trust, focused on global healthcare investments, said assets under management climbed 1.8% to GBP19.56 billion as at December 31 from GBP19.22 billion at April 1.
Meanwhile, the net performance fee profit in the financial year that ended March 31 fell to GBP1.7 million from GBP4.1 million a year prior.
Looking ahead, Chief Executive Gavin Rochussen said: "With peak interest rates in sight and declining inflation rates, investors will, we believe, begin to seek additional exposure to equities. We have a strong pipeline of client interest and have capacity to meet investor demand for our specialist active fund strategies. At the end of the quarter, we launched a Financial Credit Fund, managed by our Financials team, to further add to our offering."
Polar Capital shares fell 3.2% to 439.00 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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