LONDON, June 30, 2026, 22:02 BST
- Polar Capital finished the session at 891p, gaining 8.0%. Shares hit a fresh 52-week high at 904p during the day.
- Trading volume was 631,190 shares, roughly double the 301,250 average, according to .
- The company’s most recent buyback covered 17,000 shares, coming in at under 3% of what traded Tuesday.
- The company will report full-year numbers on July 1, and shareholders get a presentation July 2 at 0900 BST.
Polar Capital Holdings Plc (LON:POLR) jumped 8.0% Tuesday to 891p, hitting a new one-year high. The specialist fund manager outpaced the FTSE AIM 100, which added 0.22%. Shares touched 904p in the session, more than twice their 52-week low of 435p, ahead of full-year results set for Wednesday.
The main takeaway from Tuesday’s session is that the rally outpaced the size of the buyback. The company picked up 17,000 shares at an average of 826.2244p each on June 29, for a total spend of about £140,458. That represented around 2.5% of Tuesday’s turnover, calculated from the 631,190 shares traded and the 891p close.
| Market read, June 30 | Polar Capital | Why it matters |
|---|---|---|
| Share price | 891p, up 66p, up 8.0% | Gain was roughly 7.8 points ahead of the FTSE AIM 100 |
| Intraday high | 904p | Hit a 52-week high |
| Shares traded | 631,190 | Trading ran about 2.1 times normal |
| Latest buyback | 17,000 shares | Just under 3% of Tuesday’s activity |
| 52-week range | 435p-904p | Stock has doubled, up about 105% off the low |
Polar started a buyback of up to £15 million in January, using cash, planning to cancel all repurchased stock. The programme is set to finish July 19 unless it hits its limit first. Since Jan. 15, the number of issued ordinary shares dropped to 99,887,295 from 101,568,374, a net reduction of around 1.66%.
This shift matters as the market is starting to price the stock more on a recovery in earnings than just yield and buybacks. In its April update, Polar reported AUM up 8% in the March quarter to £30.6bn, with net inflows of £1.4bn and £816m from performance and markets.
Chief Executive Iain Evans said it was a “strong finish to the financial year” and added that the group started 2026 with “positive net inflow momentum”. Global Technology brought in the biggest net inflow with 722 million pounds, and the Artificial Intelligence fund saw 575 million pounds of net inflows. Investegate
The mix will be in focus for investors during results. Polar makes money from assets under management. Tech and AI demand has pulled the group away from wider active-fund outflows. There were still net outflows last quarter in North American, Global Insurance and Asian Stars funds—97 million pounds, 85 million pounds and 55 million pounds, respectively.
Equity Development’s Paul Bryant bumped his fair value on Polar to 750p from 675p in an April note that’s flagged as marketing, saying FY27 will open with a bigger AUM base. Shares closed Tuesday at 891p, up 18.8% over that new fair value.
| Equity Development model | FY26E | FY27E |
|---|---|---|
| AUM | £30.6 bln | £31.9 bln |
| Revenue | £258.2 mln | £263.8 mln |
| PBT | £75.6 mln | £81.9 mln |
| Adjusted diluted EPS | 57.8p | 63.2p |
| Implied P/E at 891p | 15.4x | 14.1x |
| Dividend | 46.0p | 54.4p |
That note had Polar at 11.7x FY26 earnings and 10.7x FY27 earnings when the shares were at 635p. With the rally to 891p, those implied P/E ratios move up to around 15.4x and 14.1x, based on the same EPS numbers.
Polar said Iain Evans and CFO Samir Ayub are due to present the full-year numbers to shareholders on July 2, a day after the results land. Investors will be watching average AUM, management fee yield, performance fee profit, net cash, and the dividend.
