Aberdeen Asset Management hit by emerging market outflows

Graph downAberdeen Asset Management saw a net outflow of £9.9 billion (€14.1 billion) in the three months to June 30 as investors continued to reduce exposure to Asia and emerging market equities. Assets under management (AuM) fell from £330.6 billion at March 31, to £307.3 billion at the end of June. Reporting the company’s latest results today, Martin Gilbert, chief executive officer, says: ““Market and FX [foreign exchange] movements, together with low-margin outflows from certain fixed income and solutions clients, accounted for a large proportion of the decline in AuM.” He adds: “In addition, macro-economic factors and investor sentiment towards Asia and emerging markets continued to weigh on equity flows.” Gilbert says, however, that the long-term investment case for Asia and emerging markets is “unchanged and we believe that committed investors will be rewarded over time”. £4 billion of new commitments and mandates were awarded to Aberdeen in the quarter but had not been funded by June 30. Saying that Aberdeen’s strategy for diversification had progressed in the quarter, the results report on the announced acquisition of Flag Capital Management and the completed purchase of Aberdeen SVG Private Equity during the three-month period. ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.