Aberdeen reports £8.8bn H1 outflow despite March improvement

Aberdeen has reported £8.8bn in net outflows for the six months to 31 March 2014 despite redemptions slowing in the final month of the period.

The group said the outflow, which compared to a £4.4bn inflow for the comparable period in 2013, was tempered by "some improvement" in March as it began to fund new mandate wins. Aberdeen had previously reported net outflows of £4.4bn for Q4 2013 and £3.9bn for the first two months of 2014 as sentiment towards emerging markets soured. It had estimated March net outflows to be just £200m, but today's figures suggest the total for the month was closer to £400m-£500m. Including the impact of FX movements, total AUM excluding the acquisition of SWIP fell from £200.4bn to £190.4bn over ...