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Polar Capital Holdings PLC on Monday posted lower pretax profit in spite of revenue growth for financial 2025. The London-based investment fund manager said revenue in the year ended March 31 was £222.1 million, 14% higher than £195.1 million on-year. Pretax profit declined to £51.6 million from £55.0 million. Polar Capital noted that operating costs had risen during the course of the year to £146.5 million from £120.0 million. Diluted earnings per share were down 15% to 36.1 pence from 42.3p, but the firm maintained the same dividend of 46.0 pence on-year. Assets under management at March 31 were lower at £21.4 billion, compared to £21.9 billion at April 1, 2024, which the firm attributed to ‘market movements’. However, average assets under management during the year rose to £22.9 billion from £19.6 billion the year prior. Polar Capital Chief Executive Gavin Rochussen described this as ‘a resilient outcome’. Looking ahead, the firm expects ‘a more favourable environment for active management’, especially as more companies consider cryptocurrency treasuries. ‘We see a strong alignment between long-term thematic trends and our investment expertise, while increasing digitalisation has the potential to level the playing field and broaden investor access,’ commented Chief Financial Officer Samir Ayub. Alongside this report, Polar Capital announced that CEO Gavin Rochussen is stepping down on September 25. He is succeeded by Iain Evans, who Polar Capital has promoted from Global Head of Distribution to chief executive designate. Evans’s role is subject to regulatory approval, but he is expected to take over in September. Rochussen will remain an employee until the end of his notice period, Polar Capital said. Polar Capital shares were 3.3% higher at 474.50 pence on Monday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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