Aberdeen assets fall as clients withdraw funds
However, the firm insisted it remained confident of growing its sales and profits organically following its £550 million acquisition of Scottish Widows Investment Partnership (Swip).
Assets under management at the group fell to £322.5 billion by the end of June, down from £324.5bn at the end of March, as Swip was hit by £3.3bn of net outflows.
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Hide AdAberdeen’s own funds saw £5.5bn of outflows as a single client withdraw about £4bn from its Asia Pacific and global equities strategies.
Nevertheless, chief executive Martin Gilbert said investors sentiment towards Asia and emerging markets had shown signs of recovery during the third quarter.
He added: “While we remain cautious on market sentiment in the short term, we remain confident that we can continue to build the group’s revenue and profit through further organic growth.”