Polar Capital shares slide despite jump in AuM

(Sharecast News) - Polar Capital shares were sliding on Thursday, even after it reported that assets under management rose 47% over the quarter to £45.0bn at 30 June, from £30.6bn at the end of March. The AIM-traded specialist active asset manager reported net inflows of £2.5bn during the period, alongside £11.9bn of positive market movements and fund performance.

Chief executive Iain Evans said the increase reflected strong absolute and relative performance from the group's Technology, Artificial Intelligence and Smart Energy strategies, supported by demand for its Technology and AI funds.

He said Polar continued to see "a supportive environment for specialist active management" and was focused on converting client demand into durable net flows.

At 0955 BST, shares in Polar Capital Holdings were down 6.1% at 862p.

Reporting by Josh White for Sharecast.com.

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