Aberdeen lifts AuM as risk appetite improves

Aberdeen Asset Management said assets under management increased in the last six months, as risk appetite continues to improve, but it remains cautious about the market outlook.

Aberdeen Asset Management said assets under management increased in the last six months, as risk appetite continues to improve, but it remains cautious about the market outlook.

AuM increased 13% to £212.3bn for six months to March 31st 2013 from the same time a year earlier after a positive market and currency performance and net new business flows.

Revenue increased 25% to £516.0m while underlying pre-tax profit rose 37% to £222.8m. Underlying earnings per share increased 43% to 14.9p.

Operating margin rose to 43.8% from 40.1% in the first half of 2012. Average fee margin climbed to 49.0bps from 43.9bps.

Chief Executive Martin Gilbert commented: "It has been a strong first half to the year with investors' appetite for risk assets returning. As a result we have seen healthy net new business flows which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins."

"We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients' long term needs."

The dividend payment has been increased 36% to 6.0per share.

Looking ahead, the company added: "The six month period under review has generally replicated conditions experienced in 2012, with positive market performance for much of the first half year followed by volatility during early April."

"We are consequently measured in our outlook but confident that our investment philosophy and process will remain well suited to the pursuit of further profitable growth."

CJ

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
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020