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LONDON - Polar Capital Holdings plc reported a 27% increase in core operating profit to £56.7 million for the fiscal year ended March 31, 2025, despite a 2% decline in assets under management (AuM) to £21.4 billion compared to the previous year.
The London-based asset manager saw its average AuM grow by 17% to £22.9 billion during the fiscal year, while maintaining a steady management fee yield of 78 basis points. Net management fees increased by 16% to £178.3 million.
Despite the growth in operating profit, the company’s statutory profit before tax fell 6% to £51.6 million, primarily due to a £13.6 million impairment charge on intangible assets. Basic earnings per share decreased 13% to 36.6 pence, while adjusted diluted total earnings per share rose 22% to 53.5 pence.
The company announced a second interim dividend of 32.0 pence per share, bringing the total dividend for the year to 46.0 pence, unchanged from the previous year. The dividend will be paid on August 7, 2025.
Polar Capital’s assets under management as of June 20, 2025, stood at £22.6 billion, with net outflows of £0.6 billion from open-ended funds and segregated mandates since April 1, 2025.
In line with its diversification strategy, the company launched the Polar Capital International Small Company Fund in September 2024 as a U.S. mutual fund, which has now exceeded $100 million in assets under management.
"Polar Capital delivered a resilient outcome for the financial year despite industry headwinds for active equity managers," said Gavin Rochussen, Chief Executive Officer, in the press release statement.
The company attributed its performance to the breadth of its product range across various specialties including Technology, Healthcare, Financials, Insurance, and regional offerings such as UK, Europe, Emerging Markets, North America, and International Small Company strategies.
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