Polar Capital assets jump 9 per cent

Polar Capital assets jump 9 per cent

Polar Capital Holdings has reported a 9 per cent increase in its assets under management in the three months to June 2021.

A quarterly update today (July 8) showed AUM stood at £22.8bn at the end of June, compared with £20.9bn at the end of March.

In the quarter, AUM increased by net inflows of £0.5bn and £1.4bn related to market movement and fund performance.

Gavin Rochussen, chief executive of Polar Capital, said: “It is pleasing to report £533m of net inflows in the quarter across our range of fund strategies including the funding of a further three segregated mandates.

“A combination of net inflows, market uplift and outperformance enabled our AUM to increase by £1.9bn in the quarter from £20.9bn to £22.8bn, a nine per cent increase.

“We remain confident that with our diverse range of active specialist fund strategies we are well positioned to perform for our clients and shareholders over the long term.”

Polar Capital doubled assets held in its segregated mandates in June to £833m, mainly due to £371m in net subscriptions.

Its investment trusts benefited from £371m in market movement and performance to reach £4.4bn, while open ended funds saw £1bn added from movements alongside £24m in subscriptions to reach £17.6bn.

The update comes as last year, Polar Capital’s assets jumped by more than a third, boosted by positive market movements, fund outperformance and strong inflows into its technology funds.

The half year results, published in November 2020, showed assets had increased from £12.2bn to £16.4bn over the six months to September — a jump of 34 per cent.

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