Asset management company GLG Partners posted a narrower quarterly loss - while putting down analysts' expectations - which helped its stock price.

Apart from this, strong returns were also reported by the London-based company, one of only a few publicly traded firms to offer hedge fund portfolios. This, as per executives, will lure new assets.

A hike in GLG's share price was seen by 4.2 percent to change hands at $4.25 in early trading on the New York Stock Exchange.

The narrowing down of the company's second-quarter net loss was seen to $24.4 million, or 11 cents a share, from a loss of $93.6 million, or 44 cents a share, a year earlier.

An increase in earnings per share was seen to 26 cents from 14 cents a year before, excluding acquisition-related charges.

A 60 percent drop in management fees and a 52 percent decline in performance fees were revealed by the company, which aided revenue that plunged 54 percent to $86.1 million.

(Via TopNews United Kingdom. Contributed by Shivdeep Singh)