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Gilbert: hard closing Kaloo's EM fund would be 'last resort'

by Sarah Miloudi on Nov 26, 2012 at 07:40

Although the year has been a successful one for the FTSE 100 firm, Aberdeen's chair 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,' Roger Cornick said.

But 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.

Also speaking to investors as Aberdeen's results landed, Gilbert said he was pleased the firm had been able to navigate the challenging environment.

He said: '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.

Gilbert added: 'We have been rewarded by continuing strong interest in our funds and significant growth in assets under management.

'We have strengthened our balance sheet further and remain confident that our long-term philosophy and rigourous investment processes will continue to drive investment performance and shareholder value.'

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