Aberdeen sees three per cent gain in AuM

Aberdeen Asset Management saw a three per cent rise in assets under management (AuM) in its first quarter helped by a strong gain in the Equities business.

Aberdeen Asset Management saw a three per cent rise in assets under management (AuM) in its first quarter helped by a strong gain in the Equities business.

However, the investment management company said that while stock markets worldwide have begun 2013 with a "more positive" tone, "we believe that uncertainty still persists and that further periods of volatility remain likely in the months ahead".

AuM at December 31st 2012, the end of the group's fiscal first quarter, was £193.4bn, up 3% on the £187.2bn recorded at September 30th 2012.

Gross new business wins in the quarter totalled £10.8bn, up from £9.0bn the quarter before, and while outflows increased from £9.0bn to £9.7bn, Aberdeen recorded net inflows for the quarter of £1.1bn.

Nevertheless, the firm said that the trend seen in 2012 has continued, "whereby inflows have been attracted into higher margin pooled funds investing in both equities and bonds whilst outflows have been mainly from lower margin segregated portfolios". Net flows for the quarter added around £30m of annualised fee income.

"Flows into our equity products have remained strong, with our Asia Pacific product having been particularly popular in the latest quarter. Net inflows to emerging market equities have continued at a higher rate than we are comfortable with and we are working to achieve a slowdown to ensure performance is not compromised."

Chief Executive Martin Gilbert said that the firm's overall performance "continues to be strong".

"The economic problems of many developed world countries are likely to remain a challenge for growth and markets for some years to come. However, Aberdeen's focus on fundamentals and expertise in a wide range of asset classes leaves us well placed to continue to meet the needs of our clients," he said.

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021