Aberdeen Asset Management has seen double the outflows it expected from its funds following completion of the SWIP takeover.
In its third quarter interim management statement covering the three months to 30 June, the group reported a total net outflow of £8.8bn, comprising £5.5bn from Aberdeen and £3.3bn from SWIP funds. This was more than double the group’s expected figure of £4.2bn. Aberdeen said net flows were severely impacted by a single client withdrawal of £4bn from its Asia Pacific and global equities strategy. Net outflows from global emerging market equities reduced to £200m over the quarter, Asia Pacific took a £100m net inflow, and global equities saw net outflows of £300m. Emerging market debt ...
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