Aberdeen Asset Management today said outflows from its business had slowed significantly following a sustained period of redemptions, with the group also seeing better than expected flows from recent acquisition SWIP.
The group has seen its share price come back 20% from its peak at the start of the year as ongoing outflows across its emerging markets mandates prompted brokers to cut price targets. But this morning Aberdeen delivered the clearest sign this trend may be at an end, with net outflows just £1.7bn in the following two months, improving significantly from £8.8bn of outflows in the three months to end of June. The group said net business flows had "stabilised" in the last two months prior to September's more volatile spell which is not included in its update. Ahead of its close period ...
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