Aberdeen has reported a pre-tax profit of £33m for the six months to 31 March 2009, down from £47.3m for the same period last year.
Net new business was down £8bn on last year, from £0.5bn in 2008 to a loss of £8.5bn, with total assets under management down 13% to £96.3bn, from £107.3bn.
Of this, £70bn was institutional money, £8.3bn open-ended funds and £4.7bn was closed-ended. Property made up £13bn.
The group's revenue was down from £201.5m last year to £192.2m, with funded group net outflows totalling £8.5bn, predominantly in the fixed income space, for which Aberdeen is blaming the unprecedented widening of credit spreads.
Fixed income net flows were a loss of £8.9bn, while equities saw net flows of £286m, property was £329m and net outflows of £156m in the multi-asset business.
Have previously announced a £77m cost-saving exercise, Aberdeen says it will implement a further £20m of efficiencies, with new banking facilities agreed to mid-2011.
While the Credit Suisse acquisition is progressing according to plan, with the final closing slated for 30 June, chief executive Martin Gilbert says Aberdeen will still look to suitable expansion opportunities that may present themselves.
Gross new business halved on last year, from £10.8bn to £5.4bn to 31 March. Its dividend per share remained static at 2.8p.IFAonline
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