The correction in global equity markets has made trading tougher for asset managers such as Polar Capital (POLR) in recent months. In January, the company revealed a £286m net outflow during its third quarter – the same day non-executive director and co-founder Brian Ashford-Russell sold shares in the group worth £1.2m.
Together with £1.8bn in market and performance losses, lost business pushed down assets under management by more than a fifth on the prior quarter. However, assets over the nine-month period were up 5 per cent, with net inflows of £524m providing the lion’s share of the uplift. The asset manager also held on to most of the performance fees accrued during the first half, which stood at £23.6m at the end of December, up from £15m in the previous year.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Aberdeen Diversified Income and Growth Trust | Julian Sinclair | 15 Jan 19 | 40,000 | 115 | 46,000 | 169,714 | 0.052 |
ADVFN | Clement Chambers (ceo) | 11 Jan 19 | 5,000 | 27.999 | 1,400 | 523,198 | 2.042 |
Alliance Trust | Christopher Samuel | 11 Jan 19 | 89 | 715.7475 | 637 | 40,482 | 0.012 |
Biffa | Richard Pike (cfo) | 11 Jan 19 | 2,458 | 191 | 4,695 | 327,458 | 0.131 |
BlackRock Throgmorton Trust | Simon Beart | 10 Jan 19 | 159 | 465.55 | 740 | 54,748 | 0.075 |
Cohort | Andrew Thomis (ceo) | 16 Jan 19 | 425 | 386.8 | 1,644 | 142,450 | 0.350 |
DekelOil Public | Lincoln Moore | 10 Jan 19 | 103,000 | 0.345 | 355 | 4,575,204 | 1.299 |
DekelOil Public | Yehoshua Kol (cfo) | 10 Jan 19 | 279,400 | 0.365 | 1,020 | 27,581,861 | 7.830 |
DekelOil Public | Lincoln Moore | 10 Jan 19 | 100,000 | 3.3 | 3,300 | 4,675,204 | 1.327 |
DekelOil Public | Lincoln Moore | 10 Jan 19 | 82,000 | 3.6 | 2,952 | 4,472,204 | 1.270 |
Futura Medical* | John Clarke (ch) | 11 Jan 19 | 57,250 | 25.1 | 14,370 | 256,226 | 0.125 |
Futura Medical* | Jonathan Freeman | 11 Jan 19 | 19,578 | 25.1 | 4,914 | 90,621 | 0.044 |
Good Energy | John Maltby (ch) | 14 Jan 19 | 15,000 | 107.5 | 16,125 | 195,703 | 1.181 |
hVIVO* | James Winschel | 10 Jan 19 | 14,115 | 28.34 | 4,000 | 93,673 | 0.116 |
Jupiter European Opportunities Trust | Andrew Sutch (ch) | 11 Jan 19 | 81 | 7.433 | 6 | 9,558 | 0.008 |
Manchester & London Investment Trust | Brett Miller | 10 Jan 19 | 1,000 | 438 | 4,380 | 1,000 | 0.004 |
Manchester & London Investment Trust | Daniel Wright | 10 Jan 19 | 1,000 | 441.86 | 4,419 | 1,000 | 0.004 |
NAHL | Russell Atkinson (ceo) | 14 Jan 19 | 16,535 | 89.8 | 14,848 | 531,866 | 1.152 |
NAHL | James Saralis (cfo) | 14 Jan 19 | 16,666 | 90 | 14,999 | 16,666 | 0.036 |
Pantheon International | Susannah Nicklin | 10 Jan 19 | 139 | 1981.5 | 2,754 | 1,106 | 0.002 |
Phoenix Global Resources | Michael Rake (ch) | 11 Jan 19 | 201,997 | 24.5 | 49,489 | 330,000 | 0.012 |
Restore♥ | Charles Skinner (ceo) | 14 Jan 19 | 15,500 | 335 | 51,925 | 1,554,060 | 1.254 |
Restore♥ | Charles Skinner (ceo) | 14 Jan 19 | 39,000 | 338 | 131,820 | 1,593,060 | 1.285 |
The Property Franchise | David Raggett (cfo) | 11 Jan 19 | 10,000 | 115 | 11,500 | 222,400 | 0.861 |
U and I | Richard Upton | 16 Jan 19 | 1,915 | 205 | 3,926 | 3,282,020 | 2.617 |
Value and Income Trust | Matthew Oakeshott | 14 Jan 19 | 75,000 | 263 | 197,250 | 9,251,000 | 20.310 |
Value and Income Trust♥ | Matthew Oakeshott | 14 Jan 19 | 75,000 | 263 | 197,250 | 9,326,000 | 20.474 |
Zegona Communications* | Eamonn O'Hare (ch) | 14 Jan 19 | 666,666 | 105 | 699,999 | 1,365,519 | 1.082 |
Zegona Communications*♥ | Mark Watts | 14 Jan 19 | 9,523,810 | 105 | 10,000,001 | 32,538,225 | 25.779 |
Zegona Communications* | Robert Samuelson | 14 Jan 19 | 142,857 | 105 | 150,000 | 514,996 | 0.408 |
Zegona Communications* | Howard Kalika | 14 Jan 19 | 142,858 | 105 | 150,001 | 177,034 | 0.140 |
Zegona Communications* | Murray Scott | 14 Jan 19 | 34,000 | 105 | 35,700 | 32,147 | 0.025 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Cohort | Andrew Thomis (ceo) | 16 Jan 19 | 437 | 380 | 1,661 | 142,025 | 0.347 |
Hilton Food | Robert Watson (ch) | 10 Jan 19 | 50,000 | 950 | 475,000 | 2,882,157 | 3.532 |
Polar Capital | Brian Ashford-Russell | 10 Jan 19 | 250,000 | 485 | 1,212,500 | 5,200,000 | 5.520 |
* placing/tender/open offer ♥ spouse/connected party |