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Aberdeen’s AUM grows 13% in first half of year

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The amount of money ran by Aberdeen Asset Management grew by 13 per cent over the opening six months of the company’s financial year, its latest results show.

Aberdeen’s assets under management stood at £212.3bn as of 31 March 2013, up from the £187.2bn reported for 30 September 2012. Equities remain the asset manager’s dominant business, with £124.3bn in AUM, while the firm runs £3704bn in fixed income.

The majority of flows over the six-month period were into the company’s main equity products – global emerging market, Asia Pacific and global equities. Aberdeen adds its recent move to stem flows into its popular GEM products have resulted in a “moderate” level of net outflows, although it expects inflows to balance at more sustainable levels in the future.

The results also show the company’s revenue amounted to £516m at the end of the period in question, up 25 per cent from a year earlier, while underlying pre-tax profit rose 37 per cent from £162.2m to £222.8m. The firm has increased its dividend from 4.4p to 6p.

Aberdeen chief executive Martin Gilbert says: “It has been a strong first half to the year with investors’ appetite for risk assets returning. As a result we have seen healthy net new business flows which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins.

“We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients’ long term needs.”

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