Polar Capital Holdings plc

Group unaudited interim results for the six months ended 30 September 2021

In the six months to 30 September 2021, AuM increased by £2.5bn from £20.9bn to £23.4bn, an increase of 12% over the period and since then has increased to £25.0bn as at 12 November 2021.

Core operating profit (excluding performance fees, other income and exceptional items) was up 65% to £36.3m compared to the comparable prior half year period and up 23% from £29.5m in the immediately preceding six-month period to 31 March 2021.

Our diverse and differentiated range of sector, thematic and regional fund strategies and our performance-led culture, where 74%, 93% and 99% of our AuM is in the top two quartiles against peers over three years, five years and since inception respectively, together with significant remaining capacity, provides confidence that momentum will continue.

Polar explorers walking over an ice cap
£23.4bn
AUM (30.09.21)
£25.0bn
AUM (12.11.21)
£31.7m
Pre-tax profit1
£36.3m
Core operating profit2
28.1p
Adj. diluted total EPS3
14.0p
Interim dividend per share4

1. IFRS Figure. 2. Refer to RNS (APM page) for reconciliation to reported results. 3. Adjusted for IFRS costs of preference shares included in share-based payments, deferred remuneration costs and exceptional items. 4. Further details on the timetable for the interim dividend are described on the shareholder information page.

Continued progress has been made in the area of sustainability both at Polar Capital corporate level and within our funds. In terms of SFDR, we have two Article 9 funds, six Article 8 Funds with a pipeline of funds aiming to reclassify as Article 8.

With the attainment of a highly credible three-year track record since joining Polar Capital, the AuM in the sustainable Emerging Market Stars suite of fund strategies now exceeds £1bn and has been instrumental in establishing a meaningful and valued client base in the Nordic region... *

We are extremely grateful for the support of our clients and the hard work and commitment of our partners and staff during the period as we continue to emerge from lockdown into a more normalised working environment.

Results presentation

Watch Gavin Rochussen, Chief Executive Officer, and Samir Ayub, Group Finance Director, present Polar Capital's interim results for the six months ended 30 September 2021.

In the presentation they highlight fund performance and flows, provide a financial review and give a strategy update.