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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.

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.

Aberdeen Asset Management has seen double the outflows it expected from its funds following completion of the SWIP takeover.

Aberdeen Asset Management has migrated all Scottish Widows Investment Partnership-run active equity funds and mandates, with the team that ran them at SWIP exiting the combined business.

Aberdeen Asset Management completed the acquisition of Scottish Widows Investment Partnership (SWIP) last night, paying a total of £550m for the business.

Scottish Widows Investment Partnership's chief executive Dean Buckley is to leave as Aberdeen Asset Management realigns its investment division following its takeover of the Scottish group.

PA Portfolio takes a look at investing in asset management houses

A new wave of outperformance for high yield debt plus a return to financing strategies seen pre-crisis have begun to alarm bond fund managers.

Aberdeen CEO Martin Gilbert has said Lloyds Banking group's plan to boost its wealth management capabilities is a crucial factor in the fund manager's deal to buy SWIP, but refused to be drawn on possible job cuts.

Aberdeen has beaten off competition from Macquarie to acquire Scottish Widows Investment Partnership (SWIP) in a deal worth up to £650m.