Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Aberdeen sees further outflows as investors shun GEMs

Aberdeen sees further outflows as investors shun GEMs

Aberdeen Asset Management saw further outflows in the fourth quarter as investor sentiment towards emerging markets remained weak.

The group saw outflows of £11.2 billion in Q4, down from £13.2 billion in the third quarter, although net outflows were slightly higher at £4.4 billion versus £3.6 billion. Gross inflows were also weaker at £6.8 billion compared to £9.6 billion in the previous three months.

Total assets under management fell from £200.4 billion to £193.6 billion quarter-on-quarter.

On a brighter note, Aberdeen reported that its blended fee rate continues to improve and is now 51.3bps up from 50bps over the first nine months of the year.

The group also pointed to ‘encouraging flows into emerging market bonds, high yield and property strategies’.

Chief executive Martin Gilbert (pictured) told the stock market: ‘Business flows reflected the continuing negative sentiment towards Asian and emerging markets generally, particularly later in the quarter.

‘However, we believe the fundamental attractions of the Asian and developing economies and companies that we invest in are compelling. We remain committed to our rigorous investment process and are confident that we will sustain our record of long term outperformance.’

The group added that its application for regulatory approval of its acquisition of Swip is progressing, but is not yet complete.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter