View the article online at http://citywire.co.uk/new-model-adviser/article/a637005
Aberdeen warns uncertainty is far from over as assets reach £187bn
by Sarah Miloudi on Nov 26, 2012 at 09:34
Aberdeen Asset Management has grown its revenue11% to £869.2 million, up from £784 million.
In its final report to investors, the fund house also revealed its underlying profit before tax had jumped 15% to £347.8 million, up from £301.9 million, over the year to 30 September.
Assets under management increased 10% to £187.2 billion, compared to £169.9 billion in 2011.
Despite the rise in assets and profit Aberdeen's chairman Roger Cornick warned the global economic uncertainty was far from over.
'It is perhaps unwise to anticipate an end to the uncertainty engendered by the global economic and political backdrop,' he said.
Cornick added equity based products offered through the group continued to generate healthy sales, leaving him confident of the firm's performance over the months ahead.
Martin Gilbert, Aberdeen's chief executive (pictured), said he was pleased the firm had been able to navigate the challenging environment.
'This has been a difficult and uncertain year in the financial markets. Against this backdrop we are pleased to have delivered extremely strong performance for our shareholders by focusing on investment performance and by delivering for our clients,’ he said.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.
More about this article:
Look up the shares
by Jun Merrett on Jul 29, 2014 at 13:52