Thursday 01 July 2021 8:31 am | Updated: Thursday 01 July 2021 8:32 am

Polar Capital profits surge 49 per cent

Rise driven by strong inflows into the firm’s funds

Asset manager Polar Capital posted a robust set of results this morning, driven by strong inflows into its funds.

Pre-tax profit climbed 49 per cent to £75.9m in 2021, up from £50.8m in the previous year.

The firm recorded net inflows into its funds of £517m in the quarter to 25 June 2021.

Assets under management swelled 71 per cent to reach £20.9bn in 2021, a sharp rise from £12.2bn from the previous year.

The firm’s share price gained 2.29 per cent in morning trading after the results were announced.

Gavin Rochussen, chief executive officer of Polar Capital, says: “The past year has been a challenging period for all, and I am exceptionally proud of what Polar Capital has achieved.”

“The products we launched as part of our growth strategy have seen strong demand, especially UK Value, now soft closed, and our sustainable Emerging Markets franchise, which has seen a very strong acceleration in demand.”

“We have witnessed a rise in demand, internationally, for specialist thematic funds, which is a core area of strength for us.”

Earnings per share climbed to 67.2p, up from 43.5p the previous year, while the firm announced a 24 per cent increase to its second interim dividend to 31.0p per share, up from 25p. This rise brought the the total dividend for the year to 40p per share, up 21 per cent.

“The outlook is positive with our diversified range of fund strategies, enhanced digital marketing footprint and broader distribution reach. We are confident that we can continue to deliver compelling returns for clients, growth in AuM and resultant increased total shareholder returns” Rochussen added.