Aberdeen pulls in €1.7 billion inflows in two months

arrow_graph_upAberdeen Asset Management attracted net inflows of £1.4 billion (€1.7 billion) in the first two months of the year, according to a trading update in advance of its interim results for the six months to March 31. Together with gains owing to market appreciation and performance, worth £9.1 billion, the company increased its assets under management by 6% in the first two months of the year to £184.4 billion. Aberdeen said outflows from fixed income products have slowed from previous quarters and that its emerging market debt and Asian local currency short duration products have attracted interest. It also said inflows into emerging market equity funds have been strong, benefiting from a recovery in investors' appetite for risk. The company claimed new business flows are tending to favour higher margin products and said the net flows in the first two months of the year would add approximately £20 million a year of fee income. “These figures reflect the continuing theme of flows into higher margin products across the business,” said Aberdeen chief executive Martin Gilbert. “Performance remains strong and our disciplined investment approach means we are well placed to continue to deliver for our investors.” ©2012 funds europe

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