(Sharecast News) - Specialist active asset manager Polar Capital reported group assets under management of £19.7bn as at 30 June on Thursday, reflecting a 3% increase compared to the end of March.
The AIM-traded company said that during the second quarter, it experienced net outflows of £0.2bn, which it said was primarily due to client redemptions.
Additionally, it reported a fund closure of £7m.
However, those outflows were partially offset by a £0.7bn increase resulting from market movements and fund performance.
"There has been continued demand and inflows into the Sustainable Emerging Market Stars, European ex-UK Income, Healthcare Blue Chip, Biotechnology and Smart Energy funds, with combined net inflows of £313m across these funds in the quarter," noted chief executive officer Gavin Rochussen.
"Net outflows in the quarter of £201m compares to net outflows of £410m in the previous quarter."
Rochussen said that during the quarter, the rate of net outflows from open-ended technology funds continued to decline, with £103m of net outflows compared to £199m in the prior period.
"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 0840 BST, shares in Polar Capital Holdings were up 0.74% at 475.5p.
Reporting by Josh White for Sharecast.com.
Polar Capital (POLR)