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Polar Capital Holdings PLC - London-based asset manager - Assets under management at September 30 total £19.14 billion, down 0.4% from £19.22 billion at April 1. Says this was due to net redemptions of £581 million and £50 million in outflows from fund closures, offset by a £546 million gain from market movement and fund performance. Net performance fee profit for the half year ended September 30 is £1.3 million, down from £4.8 million the previous year. Notes continued demand and inflows into multiple funds including Artificial Intelligence, Japan Value and Smart Energy, despite a ‘continued challenging environment’ for equity markets.
Chief Executive Gavin Rochussen says: ‘Despite the challenging backdrop...We remain confident that with our diverse range of differentiated, active specialist fund strategies we are well-positioned to perform for our clients and shareholders over the long term.’
Current stock price: 426.50 pence, down 2.5% in London on Thursday
12-month change: up 5.6%
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