Aberdeen's Gilbert: We are 'not out of woods yet' for outflows

Investors flee from emerging markets

Aberdeen Asset Management's shares fell 4.45% in morning trading today, as the group reported net new business outflows of £34bn for the year to 30 September, including £13bn in the final quarter alone.

Overall, the asset manager suffered net new business outflows of £33.9bn during the 12 months, due to weak investor sentiment towards Asia and emerging markets. This followed net new business outflows of £20.4bn in 2014. Outflows were particularly bad in the three months to the end of September, at £12.7bn, as the Black Monday market sell-off hit the group hard. This followed net outflows of £9.9bn in the three months to the end of June 2015, and £6.5bn for the previous quarter. Aberdeen has now reported ten consecutive quarters of net outflows. Shares in the asset manager were down 4...