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Polar Capital released a trading update this morning covering Q4 of its FY26. It knocked it out of the park.
My Equity Development note covers the update which can be found at this link.
Here’s a taster:
Polar delivered an exceptional Q4-26 (Jan – Mar 26) with net inflows of +£1.44bn, following up positive net flows of +£0.15bn in Q3. This stands in stark contrast to equity funds more generally, and active equity funds especially, which suffered heavy outflows in both quarters (page 2). At the end of Q3, Polar had flagged improved client engagement and a strengthening new business pipeline. Clearly, this is now translating into stronger flows.
Despite market falls in March, quarterly investment performance was strong: +£816m (+3% of AUM). AUM ended FY26 on £30.6bn, up 43% y-o-y, well above our previous forecast of £28.4bn.
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Disclosure: At the time of writing, Paul Bryant was a shareholder of Polar Capital and covered Polar Capital as an analyst on behalf of Equity Development Limited. Read Equity Development’s research on Polar here. And please read this link for the terms and conditions of reading Equity Development’s research.
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