Assets rise at Aberdeen despite outflows

Mixed-chartMarket movements and currency appreciation in the six months ending 31 March drove a 9% rise in assets under management at Aberdeen Asset Management, even though the company suffered net outflows from its products during this time. The company had net outflows across its fixed income, money market, property and multi-asset fund categories. The exception was an inflow of £4.9 billion (€6 billion) into Aberdeen's equity funds, which now account for half its £185 billion in assets under management, as of 31 March. Overall, the company had net outflows of £400 million, which were far outweighed by market movements and currency appreciation worth £14.3 billion. Aberdeen said its equity inflows were mainly into global equity, emerging market and Asia-Pacific funds. However, the firm said it had moderated inflows into mainstream global emerging market funds because of capacity constraints, adding that “we are not prepared to compromise the quality of the portfolios by diversifying into stocks of lesser quality”. Aberdeen's revenues in the six months to 31 March were £413 million, an increase of £27 million compared with the corresponding period last year. Its pre-tax profit, after amortisation and impairment of intangibles, was £124 million, an increase of £15 million. ©2012 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.