City Polar Financial News

18.11 / 08:55

UPS Trade performer reports Updates Polar Capital operating profits climb 21% despite lack of performance fees

In its interim results for the six months to 30 September, the asset manager said the rise in average AUM drove a 15% increase in net management fees to £87.6m, up from £76.5m a year earlier. As pre-announced in October, there was no performance fee profit in the period. Core operating profit climbed 21% year-on-year to £27.3m. Meanwhile, pre-tax profit rose 9% to £23.1m, tempered by £6m in exceptional items, including a goodwill impairment linked to the Dalton Strategic Partnership acquisition. As reported in a trading update in October, AUM rose 4% to £22.7bn at the end of the repor...

10.10 / 18:38

markets UPS performer Updates Polar Capital sees AUM fall 3% over third quarter

In its latest quarterly update, Polar Capital said its AUM was down to £22.7bn at the end of September compared to £23.5bn at the end of June. On a six-month basis, AUM was up 4% compared to the £21.9bn posted by the group at the end of March. Market movement and the performance accounted for £0.3bn of the increase, while £0.5bn was attributed to net inflows. However, the latter was driven by flows into open-ended funds, with the firm's investment trusts and segregated mandates seeing net outflows of £102m and £153m respectively. Market movements and fund performance boost Polar C...

13.07 / 06:42

markets UPS Trade performer Updates Polar Capital boosted by net inflows and strong market gains as AUM climbs

According to a trading update for the quarter to 30 June published today (11 July), the firm's AUM climbed 7% to £21.9bn, driven by net inflows of £644m and £978m of fund performance and market movements. AUM in open-ended funds climbed 8% over the quarter to £17.3bn, thanks to both better net new business of £719m and investment returns of £585m. Market movements and fund performance boost Polar Capital AUM by 14% Investment trusts were up 6% quarter-on-quarter to £5.4bn as performance worth £381m offset net outflows of £78m. Segregated mandates were up 1% to £816m over the peri...

27.06 / 14:39

markets COST UPS performer reports Market movements and fund performance boost Polar Capital AUM by 14%

In its annual results for the year to 31 March 2024 published today (27 June), the firm reported AUM of £21.9bn, up from £19.2bn a year prior. The increase was largely attributed to a contribution of £4.3bn from market movements and fund performance, which were partly offset by £1.6bn in net redemptions. Core operating profit decreased to £44.8m from £47.9m last year due to lower average AUM for a large part of the year and higher operating costs. Polar Capital shares surge 16% as strong market gains offset £1.6bn outflows Yet this was compensated by a higher performance fee pro...

11.04 / 15:13

markets UPS Trade performer Updates Polar Capital shares surge 16% as strong market gains offset £1.6bn outflows

In a trading update today, the firm said AUM grew 14% in the year to 31 March 2024, up to £21.9bn from £19.2bn at the end of March 2023. Net outflows of £1.6bn, alongside fund closures worth £50m, were offset by strong market movements and performance of £4.3bn. The bulk of outflows during the year came from open-ended funds at £1.2bn, as investment trusts and segregated mandates shed £154m and £235m, respectively. Polar Capital suffers £581m outflows as profits slump In the first quarter of this year, however, investors poured a net £56m into the asset manager's funds, while ...

11.04 / 10:35

markets UPS Trade performer Updates Polar Capital shares surge 16% as strong market gains offset £1.61bn outflows

In a trading update today, the firm said AUM grew 14% in the year to 31 March 2024, up to £21.89bn from £19.22bn at the end of March 2023. Net outflows of £1.61bn, alongside fund closures worth £50m, were offset by strong market movements and performance of £4.33bn. The bulk of outflows during the year came from open-ended funds at £1.2bn, as investment trusts and segregated mandates shed £154m and £235m, respectively. Polar Capital suffers £581m outflows as profits slump In the first quarter of this year, however, investors poured a net £56m into the asset manager's funds, wh...

24.01 / 17:19

Wealth managers People moves Alternatives Business roles Wealth Management private markets Moonfare head of UK and Ireland departs for private markets rival

Cotton joins from Moonfare, where he served as head of UK and Ireland, and helped establish the firm's UK subsidiary.

20.11 / 15:23

industry Novia founder and former CEO Bill Vasilieff dies aged 68

Bill Vasilieff: 4 June 1995 — 19 November 2023

20.11 / 15:23

VCTs VCTs/EIS vct Defaqto unveils EIS and VCT ratings on back of MICAP deal

John Milliken (pictured) is CEO at Defaqto.

20.11 / 11:51

companies Aum outflows Polar Capital suffers £581m outflows as profits slump

Gavin Rochussen (pictured), CEO of Polar Capital

06.11 / 16:03

IPO companies Fidelity Investments jp morgan Barclays FCA Jupiter Investors accuse CAB Payments of limited risk disclosure in IPO prospectus

CAB’s IPO was London’s biggest this year, with a valuation of £851m, raising £335m from investors.

06.09 / 11:27

Technology Microsoft Tesla NVIDIA Vodafone FTSE 100 fundsmith Fundsmith Equity and Scottish Mortgage retain bestseller crowns in August

Out of the ten most bought funds for the period, half were trackers either from Vanguard, L&G or HSBC.

05.09 / 12:01

Technology People moves analyst Polar Capital makes double analyst hire for global technology team

Fred Holt has joined from Janus Henderson Investors and Lina Ghayor from Exane BNP Paribas.

05.09 / 12:01

companies Loans liontrust GAM NewGAMe GAM repays Liontrust loan in full

Last month, GAM entered an agreement with NewGAMe and Rock Investment to extend immediate short-term financing of £18m.

19.07 / 12:39

Apple NVIDIA Meta Investment trusts Polar Capital Technology lags benchmark after missing out on mega-cap tech rally

The share price fell 4.9%, reflecting a widening of the discount, which averaged 11.9% during the year under review.

17.05 / 12:37

BlackRock Franklin Holdings BlackRock, Franklin and Polar tech funds hit as rout wipes 30% off investor holdings

Some of Europe’s largest technology funds are nursing losses of more than 30% this year, as a brutal sell-off across the sector drags down behemoths managed by the likes of BlackRock, Franklin Templeton and Polar Capital.

16.05 / 15:51

BlackRock Franklin Holdings BlackRock, Franklin and Polar tech funds hit as rout wipes 30% off investor holdings

16.05 / 02:39

BlackRock Franklin Holdings BlackRock, Franklin and Polar tech funds hit as rout wipes 30% off investor holdings

24.01 / 21:57

MET CEO An Audience With Polar Capital CEO Gavin Rochussen: ‘Nothing destroys performance like volume’

Gavin Rochussen can vividly remember one of the final lunch meetings he had in 2020 just before the Covid pandemic brought the UK to a standstill.

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