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Polar Capital Holdings PLC on Monday said in the six months ended September 30 it saw profit and revenue fall, as well as net management fees. The London-based specialist active fund manager said pretax profit in the first half of the year ending March 31 fell 8.3% to £21.1 million from £23.0 million a year prior, as revenue stooped 4.4% to £86.9 million from £90.9 million the year before. Net management fees fell 2.3% to £76.5 million from £74.8 million in the first half of financial 2023, while average assets under management edged up slightly by 1.6% to £19.4 million from £19.1 million. The company declared an unchanged dividend of 14.0 pence per share. Looking ahead, Chief Executive Gavin Rochussen said: ‘We continue to invest in our digital marketing reach and have intensified our client contact interactions to utilise our significant remaining fund capacity. This, given our differentiated range of sector, thematic and regional fund strategies, gives us confidence that we will perform for our clients and shareholders over the long term.’ Shares in Polar Capital grew 2.5% to 462.55 pence each in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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