In a widely expected move, Aberdeen Asset Management is to be removed from the FTSE 100 index with effect from 21 March, following a difficult 18-month period for the emerging market focused company.
The asset manager, led by chief executive Martin Gilbert (pictured), has seen some £30bn pulled from its funds over the last 18 months by investors wary of their underperformance, marking 11 consecutive quarters of outflows. Analysts have since forecast outflows this year could reach £21bn. Year to date the stock is down 9.9%, but Thursday's trading has seen it rise 5.9%, to trade at 261.7p. Fund management giant BlackRock was reported as taking out a 0.58% short position in the stock earlier this week, ahead of its expected expulsion into the mid-cap index. Aberdeen has already be...
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