Polar Capital AIM:POLR
- Founded
- 2001 · London, England
- Incorporated
- United Kingdom
- Chief executive
- Iain Evans
- Reports in
- GBP
- Companies House
- 04235369
Specialist active asset manager running sector and thematic strategies including its flagship global technology funds, healthcare, insurance and emerging markets, distributed to wholesale and institutional investors. Profits track assets under management and fund performance fees.
Read straight from the annual reports
846p at close on 2 Oct 2026 · 12 reported years, 2015–2026
| Line | FY201503/15 | FY201603/16 | FY201703/17 | FY201803/18 | FY201903/19 | FY202003/20 | FY202103/21 | FY202203/22 | FY202303/23 | FY202403/24 | FY202503/25 | FY202603/26 | FY2027unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | later 84.2 | ||||||||||||
| Operating profit | |||||||||||||
| Adjusted operating profit | — | — | — | ||||||||||
| Exceptional items | — | — | — | — | — | ||||||||
| Net finance cost | — | — | — | — | — | ||||||||
| Profit before tax | later 23.6 | ||||||||||||
| Adjusted profit before tax | — | — | — | — | — | — | — | — | — | — | |||
| Tax charge | |||||||||||||
| Profit for the year | later 18.2 | ||||||||||||
| EBITDA | |||||||||||||
| Adjusted minus statutory PBT | — | — | — | — | — | — | — | — | — | — | |||
| Basic EPS | |||||||||||||
| Diluted EPS | |||||||||||||
| Adjusted EPS | |||||||||||||
| Dividend per share |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Assets under management (AuM) growth
AuM increased 43% to £30.6bn (2025: £21.4bn), driven by net inflows of £902m and fund performance/market movements of £8.8bn
page 6Net management fees on average AuM
Net management fees increased 10% to £196.9m (2025: £178.3m); net management fee yield 76bps (2025: 78bps)
page 30Net management fee yield decline
Net management fee yield fell 2bps to 76bps; medium-term guidance is a further annual decrease of 1-2bps due to product/client mix and industry trends
page 30Core operating profit margin held
Core operating profit margin unchanged at 32% as higher average AuM was offset by disciplined cost management
page 16We have entered the new financial year with positive net inflow momentum...The structural headwinds facing active equity managers...have not abated. Yet we believe the environment is increasingly supportive of what Polar Capital offers.
page 11Effective 1 April 2026, revised policy: in normal circumstances the Group expects to return at least 50% of adjusted core profits to shareholders via an ordinary dividend paid half-yearly, plus special dividends/share buybacks for excess performance fee profits and surplus capital. FY26 total dividend maintained at 46.0p (14.0p first interim, 32.0p second interim proposed)
page 6Directors adopted the going concern basis, covering at least 12 months from the date of the report, based on review of the annual budget process and Internal Capital Adequacy and Risk Assessment (ICARA) stress testing, supported by significant liquid assets relative to the Group's predictable operating cost profile. Independent auditor is PricewaterhouseCoopers LLP, giving an unqualified/unmodified audit opinion on the FY26 financial statements
page 33- Strategy & business model risk – failure to deliver against strategic goals or disruption from technological, regulatory or legislative change could lead to lower AuM and revenuesp.44
- Shift in culture risk – erosion of the Group's entrepreneurial, meritocratic culture could undermine execution of strategyp.44
- Fund manager retention risk – loss of key fund managers could cause significant investor redemptions and loss of revenuep.44
- Sustainability risk – failure to manage ESG-related risks could cause financial, reputational or regulatory harmp.45
Read from C001017-AR-2026-ch.
11 annual reports read, FY2016 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2027Next report expected 3 Jul 2027