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Aberdeen’s assets jump 10% in two months

Martin Gilbert 200
Martin Gilbert

The amount of money run by Aberdeen Asset Management jumped 10 per cent in the opening two months of the year, the group’s latest financial results show.

On 28 February 2013, the firm’s assets under management stood at £212.3bn – up from the £193.4bn reported at the end of 2012.

Over the two-month period, the asset manager witnessed net inflows of £3.5bn while market appreciation and performance contributed £7.3bn to the rise in AUM. Currency movements added £8.1bn.

Aberdeen chief executive Martin Gilbert says: “We have seen another positive period for Aberdeen with continuing investor interest in a range of our products, complemented by two infill transactions announced in February.

“Despite the strong start to the year for markets generally, economic problems remain and the investment environment is likely to be challenging for some time to come. However, we believe our fundamental approach to investing will continue to serve our clients well over the long term.”

The rise in AUM was driven by the group’s equity funds, where the amount of money being managed moved from £108.3bn to £123.6bn over the two months in question.

Net inflows into Aberdeen’s global emerging market funds were “extremely strong”. The firm has moved to stem flows into these products by introducing a 2 per cent initial charge on new investment and says it expects this measure to keep flows at “more sustainable levels”.

The firm adds that strong flows have been seen in Asian equities products, especially its Japanese and Chinese equities funds. In addition, flows have continued into emerging market debt, multi-asset and property portfolios.

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