* Net inflows $374 mln in 3 months to June 30
* Assets slip to $5.081 bln after performance, currency
* Clients return to hedge funds after recent outflows
By Laurence Fletcher
LONDON, July 12 Investment manager Polar Capital
enjoyed further inflows into its funds in the second
quarter on the back of strong recent performance and said it has
finally begun to see clients return to its hedge funds.
The firm, which attracted more than $1 billion of net new
money into its funds in the year to March, said it saw $374
million of net subscriptions in the three months to end-June,
principally into its long-only funds.
However, performance and currency losses over the period
meant that total assets at end-June fell marginally to $5.081
Polar's inflows come as fund firms struggle to win clients
amidst volatile markets and concerns over the euro zone debt
crisis. On Thursday Ashmore reported net ouflows of
$600 million over the same period.
"We consider that the group is well positioned to grow
further over the coming months assuming market conditions do not
deteriorate further," Polar said in the statement.
The firm also reported a net inflow of $8 million into its
hedge funds, which have been seeing clients exit after poor
performance in 2010 from its UK hedge fund.
Last month the firm said pretax profit for the year to
end-March rose 5 percent to 9.6 million pounds. Over the year
seven of its eight long-only funds were in the top quartile of
performance while four of its six hedge funds made money.