Polar Capital (POLR) reported a reduction in net outflows during the first three months of the year as equity markets recovered. The asset manager gained net inflows of £556m over the year, with a stronger first-half offsetting net outflows of £286m and £90m during the third and fourth quarters, respectively.
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Market movements of £1.3bn pushed up assets under management by 15 per cent over the year to £13.8bn by the end of March, but still behind the record £14.7bn at the end of September. Closing assets came in ahead of forecasts by analysts at Peel Hunt and Shore Capital (£13bn and £13.1bn, respectively).
