Aberdeen Asset Management suffered worse-than-expected outflows of £4.8bn in the final quarter of 2014 as poor emerging market sentiment weighed on its funds.
The moves in the three months to December followed £20.4bn of outflows in the 12 months to end of September, which the group said was a result of the acquisition of Scottish Widows Investment Partnership (SWIP) and waning demand for emerging market equities. Of the total outflows, £1.5bn can be attributed to SWIP funds, which the group acquired in May. In the three months to the end of December, outflows from Aberdeen's equities division slowed to £800m, but the fixed income arm suffered £1.3bn outflows from Aberdeen funds and £200m outflows from SWIP. The group said fixed income o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes