LONDON (ShareCast) - (Sharecast News) - Specialist active asset manager Polar Capital said in an update on Thursday that at the end of June its assets under management totalled £18.9bn.
The AIM-traded firm said that was down from £22.1bn at the end of March, making for a decrease of 14% over the quarter.

In the quarter, assets under management decreased through net outflows of £0.3bn, fund closures of £0.5bn, and £2.4bn related to market movement and fund performance.

"Despite overall net outflows in the quarter, there has been continued demand and inflows into the Sustainable Emerging Market Stars, Global Insurance, Healthcare Blue Chip, Global Absolute Return and Smart Energy Funds with combined net inflows of £275m across these funds," said chief executive Gavin Rochussen.

"During the quarter, the rate of net outflows from open-ended funds slowed down compared to the previous quarter, resulting in total net outflows of £316m, driven by the technology funds with net outflows of £380m and which compares favourably with technology net outflows in the previous quarter of £630m.

"With significant fund capacity and improving relative fund performance, we remain confident that with our diverse range of active specialist fund strategies we are well positioned to perform for our clients and shareholders over the long term."

At 1135 BST, shares in Polar Capital Holdings were down 1.97% at 448p.

Reporting by Josh White at Sharecast.com.

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