Business
AUM Update
AUM Update.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8235V Polar Capital Holdings PLC 11 April 2019 \n\n \n11 April 2019 Polar Capital Holdings plc\nAUM Update\n \n \nPolar 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\") for the financial year to 31 March 2019.\n \nGroup AUM (unaudited)\n \nPolar Capital reports that as at 31 March 2019 its AUM were £13.8bn compared to £12.0bn at the end of March 2018, an increase of 15% over the year.\n \n\n\n\nAUM movement in twelve months to 31 March 2019\n\n\nLong-only\nfunds\n\n\nAlternative funds\n\n\nTotal\n\n\n\n\nAUM at\n1 April 2018\n\n\n£10,812m\n\n\n£1,168m\n\n\n£11,980m\n\n\n\n\nNet subscriptions\n\n\n£427m\n\n\n£129m\n\n\n£556m\n\n\n\n\nMarket movement\nand performance\n\n\n£1,290m\n\n\n£9m\n\n\n£1,299m\n\n\n\n\nTotal AUM at\n31 March 2019\n\n\n£12,529m\n\n\n£1,306m\n\n\n£13,835m\n\n\n\n \n \n \nComment\n \nWhile the Group reports AUM at a record year-end high of £13.8bn, an increase of £1.8bn over the financial year, over the past twelve months we have experienced material fluctuations in the Group's AUM. Before the market sell-off in October, AUM reached an all time high of £14.7bn at the end of the first half in September but following the market correction in the final calendar quarter AUM declined to £12.7bn as at 31 December 2018. The strong market recovery in the recent quarter lifted AUM by £1.1bn to £13.8bn.\n \nDuring the financial year, net inflows amounted to £556m as a result of positive net inflows in the first half of £932m followed by net outflows of £286m in the December quarter and a significantly reduced rate of net outflows of £90m in the recent quarter to 31 March 2019. Net flows in April have to date been positive.\n \nDespite the market volatility over the second half, the Group's funds have performed well resulting in a record year for net performance fee profits of £23.6m which crystallised on 31 December 2018.\n \nGavin Rochussen, Chief Executive, commen...