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Annual Results

Aberdeen AuM up

28 November 2016 07:19

Aberdeen Asset Management's assets under management rose to £312.1 billion in the year to the end of September (2015: £283.7 billion).

Net revenue fell by 14% to £1,007.1 million (2015: £1,169.0 million) and underlying profit before tax decreased to £352.7 million (2015: £491.6 million).

The group reports a strong year-end net cash position of £548.8 million (2015: £567.7 million).

Chief executive Martin Gilbert said: "These financial results reflect, in part, our diversified business model and strict cost management. Economic and political newsflow has weighed on investor sentiment and as expected has led to further outflows from our business.

"Structural themes including fee pressure, technological innovation and greater regulatory requirements are a focus for all asset managers. Aberdeen's broad range of investment capabilities and global distribution platform means we are well placed to address these challenges and also benefit from the opportunities they create. By continuing to invest in the business and by being a good steward of our customers money we are committed to helping our investors - from individuals through to institutions - achieve their financial goals."

Story provided by StockMarketWire.com

Related Company: ADN

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