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View the article online at http://citywire.co.uk/wealth-manager/article/a579766

Gilbert sells £771k Aberdeen shares to 'diversify'

by Kiran Moodley on Apr 03, 2012 at 07:34

Gilbert sells £771k Aberdeen shares to 'diversify'

Aberdeen Asset Management's CEO Martin Gilbert has refreshed his pension by selling a chunk of shares held in his firm.

Gilbert has sold 300,000 shares from his pension fund at 257p per share equating to £771,000. The proceeds re-invested in Aberdeen's managed funds in a bid to diversify his portfolio.

Following the disposal Gilbert's stake in the company stands at around 6.8 million shares.

Gilbert's move comes just a few days after Aberdeen saw assets under management jump 6% in the first two months of the year.

Assets rose from £173.9 billion on 31 December 2011 to £184.4 billion on 29 February. Net inflows stood at £1.4 billion for the period with inflows into higher margin products adding £20 million in annual revenues.

Shares in Aberdeen closed last night on 259.1p, around 6p below their 52-week high.   

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