AUM up 2.6% at Aberdeen Asset

Date: Monday 27 Sep 2010

Aberdeen Asset Management said assets under management at 31 August 2010 rose 2.6% to £168.8bn from the same time a year earlier after higher inflows into equity funds while redemptions are slowing.

In a statement ahead of its full year results the Scottish investment firm said investment performance remains strong across its key equity and fixed income areas.

Within alternative investment strategies, its flagship hedge fund of funds and multi-asset funds saw robust performance year to date.

Property performance remains robust after a strong rally in UK property assets and improving markets across Europe over the last 12 months, the group said.

"Elsewhere, despite subdued European markets over the summer, investor confidence and appetite appears to be improving in Europe, Asia and the US," the group said in a statement.

Aberdeen said the rate of redemptions continues to slow, particularly on fixed income mandates.

Gross new business flows for the two months to 31 August 2010 totalled £6.4bn, bringing the total for the eleven months year to date to £42.7bn compared to £19.1bn for the year to 30 September 2009. Total net inflows rose to £0.6bn in the quarter.

Chief executive Martin Gilbert commented, "The short-term economic and market outlook remains uncertain, but our range of capabilities leave us well placed to meet the needs of our clients around the world."

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