Aberdeen Asset Management is likely to see its revenues reduced by £12m in 2003 as it will be forced...
Aberdeen Asset Management is likely to see its revenues reduced by £12m in 2003 as it will be forced to either waive or reduce fees on a further eight split-cap trusts, according to Schroder Salomon Smith Barney (SSSB). Following severe problems within the sector, Aberdeen announced it is waiving management fees charged to two of its splits: Preferred Income and High Income. Carolyn Dorrett, analyst at SSSB, said the move will reduce Aberdeen's annual fee income by £2m, in addition to an estimated £6m of lost revenues from the reduction in assets under management across the group's spli...
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