Aberdeen sees growth in pooled funds

growthAberdeen Asset Management says there has been continued strong interest in its range of pooled funds.

The asset manager’s latest interim management statement, covering the nine months up to 30 June, shows that net inflows into pooled funds over the period were £5.3bn (€6bn) as opposed to £3.9bn a year previously.

By contrast, segregated mandates registered net outflows of £5.3bn, as against outflows of £3.6bn in 2010.

The higher revenue margins on pooled funds, combined with strong sales of equity and property products, have provided approximately £15m of annualised fee income.

Regarding the statement, Martin Gilbert, chief executive of Aberdeen, said: “Aberdeen continues to make good progress in what have been volatile market conditions. Flows into higher margin products have more than offset redemptions in terms of revenue ensuring profit, cashflow and margins remain strong.”

Assets under management increased over the second quarter of 2011, rising 2.5% to £185.8bn as per 30th June.

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