Aberdeen posts 10 per cent increase in AuM

Aberdeen Asset Management posted a ten per cent increase in assets under management but cautioned, that despite a strong start to the year for stock markets, the environment is likely to be challenging for some time to come.

AuM rose to £212.3bn at February 28th 2013 compared to £193.4bn at December 31st 2012.

The group recorded net inflows of £3.5bn for the two months, resulting in net inflows of £4.6bn for the five months to February 29th and net outflow of £1.4bn.

Chief Executive Martin Gilbert commented: "We have seen another positive period for Aberdeen with continuing investor interest in a range of our products, complemented by two infill transactions announced in February."

"Despite the strong start to the year for markets generally, economic problems remain and the investment environment is likely to be challenging for some time to come. However, we believe our fundamental approach to investing will continue to serve our clients well over the long term."

Gilbert added: "We are well placed to achieve further organic growth, which will be supplemented by additional AuM when the Artio and SVG Advisers transactions are completed in the second half of our financial year."

CJ