15th Apr 2010 07:00
15 April 2010
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").
Group AUM (unaudited)
As at 31 March 2010 Group AUM has grown 71% since 31 March 2009 to US$2.53bn and 17% since 31 December 2009.
The tables below set out the Group's AUM as at 31 March 2010 and the movements experienced in the 12 month and 3 month periods since 31 March 2009 and 31 December 2009 respectively:
|
AUM movement 12 months to 31 March 2010 |
Long only funds $m |
Hedge funds $m |
Advisory funds $m |
Total $m |
|
As at 31 March 2009 |
$746m |
$699m |
$35m |
$1,480m |
|
Performance and currency movements |
$419m |
$55m |
$5m |
$479m |
|
Net subscriptions / (redemptions) from ongoing businesses |
$410m |
$253m |
nil |
$663m |
|
Outflows from closed funds |
nil |
$(52)m |
$(40)m |
$(92)m |
|
Total AUM at 31 March 2010 |
$1,575m |
$955m |
nil |
$2,530m
|
|
AUM movement 3 months to 31 March 2010 |
Long only funds $m |
Hedge funds $m |
Advisory funds $m |
Total $m |
|
As at 31 December 2009 |
$1,270m |
$899m |
nil |
$2,169m |
|
Performance and currency movements |
$86m |
$(10)m |
nil |
$76m |
|
Net subscriptions / (redemptions) from ongoing businesses |
$219m |
$66m |
nil |
$285m |
|
Outflows from closed funds |
nil |
nil |
nil |
nil |
|
Total AUM at 31 March 2010 |
$1,575m |
$955m |
nil |
$2,530m
|
Comment
It is pleasing to report that the AUM flows in the final quarter of the Group's financial year have continued the trend of the preceding period, resulting in encouraging AUM growth of 71% from the end of the last financial year. In the final quarter inflows have been greatest in the long only funds managed by the Group.
The Group continues to believe that the good long and short term performance of its funds places it in a good position to attract further inflows in the months and quarters ahead assuming market conditions remain favourable.
For further information please contact:
|
Polar Capital Tim Woolley (CEO) John Mansell (CFO) |
+44 (0)20 7227 2700 |
|
Numis Securities Charles Farquhar Simon Blank |
+44 (0)20 7260 1000
|
|
Financial Dynamics Ed Gascoigne-Pees Georgina Turner |
+44 (0)20 7269 7132
|
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