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Aberdeen sees £1.2bn outflows as it launches two bond funds

Fund manager saw assets fall from £209.6bn to £201.7bn between June and August.

Aberdeen Asset Management has announced net outflows of £1.2bn between June and August as it launches two new bond funds.

In a pre-close trading update, the fund manager said assets under management fell to £201.7bn at the end of August compared to £209.6bn at the end of June.

It attracted gross new business of £7bn during the period.

Aberdeen chief executive Martin Gilbert says: “We are mindful that while there are signs of recovery in Europe and the US the situation is fragile and structural problems have not been resolved.”

The fund group also announced the launch of the Aberdeen Global World Government Bond fund and the Aberdeen European Secondaries Real Estate fund.

The Aberdeen Global World Government Bond fund already has around £75m of initial seed money from an institutional investor and will be managed by the firm’s global macro team, led by Jozsef Szabo.

The Aberdeen European Secondaries Real Estate fund, to be run as a multi-manager fund, has already received an initial €151.5m (£127m) from an institutional investor.

The firm’s Property Multi-Manager team will construct the portfolio out of 15 funds focusing on European property.

Lars Graneld and Johan Tremse will be lead managers on the fund.

Aberdeen is also launching the Aberdeen Global Frontier Markets Bond fund aimed at institutional investors.

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