Polar Capital Holdings plc (“Polar Capital” or the “Group”), the specialist active asset management group, today provides its regular quarterly update of its unaudited statement of Assets under Management (“AuM”) for the financial year to 31 March 2026.

Group AuM (unaudited)

Polar Capital reports that as at 31 March 2026 its AuM was £30.6bn compared to £28.4bn at the end of December 2025, an increase of 8% over the quarter. In the quarter, AuM increased by net inflows of £1.4bn, fund performance and market movements of £0.8bn, offset by fund closures of £13m.

AuM movement in three months to 31 March 2026Open ended Funds
(£m)		Investment Trusts
(£m)		Segregated mandates
(£m)		Total
(£m)
AuM at 1 January 2026

21,366

6,48253928,387
Net flows 1,386(5)621,443
Fund closures1(13)--(13)
Market movement and performance6851283816
Total AuM at 31 March 202623,4246,60560430,633


AuM movement in twelve months to 31 March 2026Open ended Funds
(£m)		Investment Trusts
(£m)		Segregated mandates
(£m)		Total
(£m)
AuM at 1 April 2025

15,994

4,84656921,409
Net flows1,233(237)(94)902
Corporate actions2-(396)-(396)
Fund closures1(75)--(75)
Market movement and performance6,2722,3921298,793
Total AuM at 31 March 202623,4246,60560430,633

1Return of funds to investors upon the closure of the Polar Capital Emerging Market ex-China Stars Fund in February 2026, Polar Capital China Stars Fund in January 2026 and the Polar Capital Melchior European Opportunities Fund in November 2025.
2Return of capital to investors in June 2025 as the Polar Capital Global Financials Trust underwent a 100% tender offer following which 44% of issued capital was tendered and in November 2025 when Polar Capital Global Healthcare Trust underwent a 100% tender offer following which 22% of issued capital was tendered.


Iain Evans, Chief Executive, commented:

“We have delivered a strong finish to the financial year, despite a backdrop of heightened geopolitical uncertainty and ongoing market volatility. Over the quarter, assets under management (AuM) increased by 8% to £30.6bn, up from £28.4bn at the end of December, supported by net inflows of £1.4bn.

“For the full financial year, AuM increased by 43% to £30.6bn, from £21.4bn at the end of March 2025, reflecting a combination of net inflows, fund performance and market movements. We delivered a second consecutive year of positive net inflows, totalling £902m (excluding corporate actions and fund closures), demonstrating the strength of our specialist investment capabilities.

“Flows during the quarter were broad-based, with several of our investment teams generating net inflows, led by Technology, Healthcare and Smart Energy. Demand for our Global Technology (£722m) and Artificial Intelligence (£575m) funds remained particularly strong, driven by continued client interest in structural growth opportunities and supported by both increased allocations from existing clients and new client wins, notably across wealth and private bank channels in Europe and Asia.

“Our Healthcare strategies also contributed positively, including the launch of a new separately managed account in partnership with a Swiss wealth manager. In addition, Emerging Market Stars, Japan Value and Global Absolute Return funds each delivered net inflows, further highlighting the breadth of our platform.

“Net outflows were largely concentrated in North American (£97m), Global Insurance (£85m) and Asian Stars (£55m) funds, reflecting a small number of client-specific redemptions rather than any broader shift in demand or sentiment.

Outlook

“We have entered 2026 with positive net inflow momentum, although we remain mindful of the structural challenges facing the industry. Inflows were strongest in January and February, before moderating in March following the escalation of conflict in the Middle East. Encouragingly, positive momentum has continued into April to date.

“The geopolitical backdrop has become more uncertain, contributing to heightened market sensitivity, particularly in energy markets. Despite this, we remain confident in our positioning as a specialist boutique. As markets broaden and the pace of technological disruption, including AI, accelerates, the case for specialist active management is becoming increasingly compelling. Our focus on differentiated capabilities, deep expertise and disciplined execution positions us well to navigate the uncertainty and capture opportunities ahead for our clients and shareholders.”

Polar Capital plans to announce its results for the financial year ended 31 March 2026 on 1 July 2026.

For further information please contact:

Polar Capital
+44 (0)20 7227 2700
Iain Evans (Chief Executive)
Samir Ayub (Chief Financial Officer)

Deutsche Numis – Nomad and Joint Broker
+44 (0)20 7260 1000
Charles Farquhar
Duncan Monteith
Rajesh Iyer

Peel Hunt LLP – Joint Broker
+44 (0)20 3597 8680
Andrew Buchanan
Thomas Philpott

Camarco – PR
+44 (0)20 3757 4980
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh