Polar Capital has reported core operating profit soared 65%, while assets under management (AUM) grew 12% in the six months to September, as its emerging markets and Asia funds, and healthcare offerings were the largest beneficiaries of net inflows.
The asset manager saw AUM increase by £2.5bn, from £20.9bn to £23.4bn, an increase of 12% over the period and, since then, has climbed to £25bn as at 12 November 2021. Chief executive Gavin Rochussen said that core operating profit, which excludes 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. Polar Capital grows AUM by 71% in 'extraordinary' year Pre-tax profit increased 17%, reaching £31.7m at the end of September, u...
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