Polar Capital Holdings PLC - London-based specialist active fund manager - Assets under management ends September 30 at £18.77 billion, falling from £22.12 billion at the end of March. Over first half, records £845 million net outflows, with market movements taking another £2.05 billion off total assets. Notes fund closures took further £459 million off total AuM. Notes outflows in second quarter alone was £529 million.

‘During the quarter, the rate of outflows from the open-ended Technology funds continued to decline, with £252 million of outflows compared to £380 million in the previous quarter and £630 million in the first quarter of this calendar year. Outflows of £250 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%

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