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Trading statements

Aberdeen AuM falls

02 February 2017 07:20

Aberdeen Asset Management's assets under management fell to £302.7 bn in the three months to the end of December from £312.1bn at the end of September.

Net outflows of £10.5bn were partly offset by £3.3bn asset appreciatio and the group said the bulk of net outflows were largely low margin and anticipated.

The group said a £2.2bn reduction in AuM was due to rationalisation of US Fixed Income business and there was growing interest in its wider range of capabilities.

Chief executive Martin Gilbert said: "Investor sentiment had been improving steadily in the early part of the quarter, but stalled following the US presidential election result with investors putting asset allocation decisions on hold.

"Encouragingly, despite the market volatility our equity strategies produced strong returns for the year.

"While growing interest in a number of our strategies is likely to continue to be masked, in the short-term, by significant withdrawals by a small number of clients, I am encouraged by the progress being made.

"Overall Aberdeen remains in good shape, we have a strong balance sheet, a global client base and wide range of capabilities to meet the needs of investors."

Story provided by StockMarketWire.com

Related Company: ADN

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