Aberdeen Asset says AUM little changed

Date: Thursday 22 Jan 2009

Fund manager Aberdeen Asset Management said assets under management (AUM) were little changed by the end of the year as the effects of markets, performance and currency movements broadly matched the Group's new business flows.

AUM at 31 December 2008 were £110.2bn (30 September 2008: £111.bn).

“We are reducing our cost base in response to the weak market environment, while our plans to acquire certain businesses from Credit Suisse are progressing well. Underpinning all this is our continued performance in many areas, including emerging markets and global equities,” said the group.

“Market conditions remain extremely challenging but Aberdeen is well placed to come through these times in good shape and to continue to take advantage of opportunities as they arise,” it added.

Global equity, bond and property markets remain volatile and the group said it sees no early end to this situation.

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