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Polar Capital Holdings PLC - London-based specialist active fund manager - Assets under management ends September 30 at GBP18.77 billion, falling from GBP22.12 billion at the end of March. Over first half, records GBP845 million net outflows, with market movements taking another GBP2.05 billion off total assets. Notes fund closures took further GBP459 million off total AuM. Notes outflows in second quarter alone was GBP529 million.
"During the quarter, the rate of outflows from the open-ended Technology funds continued to decline, with GBP252 million of outflows compared to GBP380 million in the previous quarter and GBP630 million in the first quarter of this calendar year. Outflows of GBP250 million from the UK Value Opportunities Fund during the quarter reflected client asset allocation decisions with UK equity exposure being reduced," Chief Executive Gavin Rochussen says.
Rochussen notees he remains confident in firm's "diverse range of differentiated, active specialist fund strategies".
Current stock price: 397.50 pence, down 1.6% on Thursday
12-month change: down 49%
By Paul McGowan; paulmcgowan@alliancenews.com
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