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£800m net outflow at Aberdeen

Aberdeen Asset Management witnessed net outflows of £800m in the fourth quarter of last year, according to its interim management statement.

The firm saw £2 billion more outflows than inflows from fixed income, £900m of such net outflows from alternatives, £900m from property and £400m from money market funds.

Equities saw £3.4 billion of net inflows, however, driven mainly by emerging markets.

The equity flows helped lift assets under management (AUM) to £80.8 billion out of a total of £183.3 billion for the group.

Group AUM rose £5.4 billion in the quarter due to positive performance and currency movements.

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Strong dollar can be a powerful driver of UK dividend growth in 2015

By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.

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