Aberdeen suffers £11.3bn H1 outflow

Aberdeen has reported a worse than expected £11.3bn outflow for the six-month period to the end of March despite a rise in revenues over the period.

Reporting its interim results, Aberdeen said it had seen £7.9bn in outflows from its own business lines and £3.4bn from the Scottish Widows Investment Partnership (SWIP) business, taking total net outflows to £11.3bn on the period. Shares fell 2.5% this morning on the weaker results, to trade around the 451p mark. Of the £11.3bn outflows, £2bn came from global equities, £1.7bn from global emerging markets and £2.9bn was pulled from global fixed income, although the group said Asian and US fixed income saw inflows for the period and fund performance was ahead of benchmarks. Asia Pa...