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Polar Capital Holdings PLC on Monday hailed its technology and emerging markets exposure, as the company reported growth in pretax profit and assets under management. The London-based specialist fund manager said pretax profit rose 21% to £27.9 million for the six months ended September 30, from £23.1 million. This was driven by a drop in operating costs and rise in other income, primarily net gain on financial assets and liabilities. Revenue rose 0.8% to £101.4 million from £100.6 million. AuM rose 25% to £26.7 billion at September 30, from £21.4 billion at March 31. AuM stood at £28.4 billion on November 7. Technology was the biggest AuM strategy, comprising 51% of total assets at £13.6 billion on September 30. This had more than doubled since March 31 from £9.0 billion. Polar Capital said its Technology team’s ‘early, high-conviction exposure’ to artificial intelligence ‘supported strong absolute and benchmark-relative returns’. The company noted that the first half began with ‘significant volatility’ due to the US tariff announcement, which led to its AuM dropping to a low of £19.9 billion in early April. Polar Capital said: ‘Against this backdrop, Polar Capital’s meaningful technology exposure was a significant tailwind.’ Emerging Markets comprised £3.6 billion of AuM, rising 20% from £3.0 billion on March 31. ‘AI was not the sole driver. Emerging markets outperformed developed markets, aided by policy support in China, an easing of trade tensions, and a weaker US dollar. Japanese equities reached all-time highs, driven by shareholder-friendly reforms and improving growth,’ the company added. Polar Capital declared an interim dividend of 14.0 pence, the same as a year ago. Looking ahead, Chief Executive Iain Evans said he is ‘confident’ the company has a ‘strong foundation on which to build.’ ‘Looking ahead, the macro environment is uncertain and likely to remain volatile, but our plan is clear: scale where we are strongest, apply targeted fixes where needed, diversify selectively, and leverage distribution,’ Evans added. ‘The environment is unpredictable, but our focus is on converting gross demand into durable net flows and maintaining margin discipline. We are well positioned to scale through differentiation and deliver long-term value for clients and shareholders.’ Shares in Polar Capital fell 4.4% to 524.00 pence on Monday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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