Date: Monday 26 Mar 2012
Fund manager Aberdeen Asset Management has seen investors continue to return to equity markets in 2012.
Assets under management at the end of February stood at £184.4bn, up from £173.9bn at the end of 2011. Of the £10.5bn increase, £1.4bn was accounted for by net new business, with equities products seeing net inflows of £2.5bn, compensating for net outflows in other parts of the business.
In the first five months of the Aberdeen's financial year, the group has seen net outflows of £1.4bn, compared to net outflows of £0.6bn in the corresponding period of the previous year.
"The ongoing trend of new business flows into higher margin products continues to support the growth in revenues; we estimate that the net flows for the two month period to 29 February 2012 will add approximately £20 million of annualised recurring fee income," the company said.
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