Advertisement

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.

Advertisement - Article continues below

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

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/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
Visit/investments/investment-strategy/600861/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
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
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
Visit/investments/stockmarkets/600634/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

Visit/investments/commodities/gold/601444/these-seven-charts-show-exactly-why-you-must-own-gold-today
Gold

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020
Visit/investments/stockmarkets/601460/disease-rioting-and-mass-unemployment-so-why-are-markets-soaring
Stockmarkets

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
Visit/investments/commodities/601433/commodities-possibly-the-biggest-opportunity-in-todays-markets
Commodities

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020