AppId is over the quota
AppId is over the quota
By Laurence Fletcher
LONDON | Thu Oct 13, 2011 9:21am BST
LONDON (Reuters) - Fund manager Polar Capital enjoyed net inflows of $160 million (101.7 million pounds) over the three months to end-September, as sales of its mutual funds helped it buck a recent trend of fund firms losing clients amid high market volatility.
Polar (POLR.L) said assets under management, on which fund firms earn fees, rose nearly 2 percent to $3.94 billion over the six months to end-September, around the levels it ran in late 2007 before the nadir of the credit crisis.
Whilst clients withdrew cash from its hedge funds over the past six months, the firm saw $706 million of inflows into its long-only funds, more than cancelling out performance losses in this summer's volatile markets.
However, the firm, which in July warned macroeconomic problems in Europe and the United States would hinder future inflows, said it remained "cautious on the outlook for net inflows over the coming quarters".
While Polar's inflows slowed over the past three months, they still stand in sharp contrast to client losses elsewhere.
Last month Man Group (EMG.L), the world's biggest listed hedge fund manager, said clients withdrew money over the summer months at the fastest pace since early 2009 amid "relentless volatility" in world markets.
And Aberdeen (ADN.L) reported net outflows of 800 million pounds in the two months to August 30.
(Reporting by Laurence Fletcher, editing by Sinead Cruise)
0 komentar:
Posting Komentar