Aberdeen Asset sees small net outflow

Fund manager Aberdeen Asset Management saw its assets under management (AuM) edge up in the first two months of the second half of the year.

AuM at the end of August stood at £184.3bn, up from £182.7bn at the end of June. Gross new business during July and August totalled £6.1bn, but overall the group saw a net outflow of £0.1bn.

Martin Gilbert, Chief Executive of Aberdeen, commented: "With uncertainty surrounding the global macro-economic situation our disciplined and fundamental approach to investing continues to attract flows from a wide range of clients from around the world. Our strong performance across a variety of capabilities and products means we remain well positioned to meet the needs of investors in a constantly changing environment."

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

More to follow ...

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.