Update: Aberdeen shares fall 4% on £10bn outflows in Q4 2016

Warns of 'short-term withdrawals'

Aberdeen Asset Management's share price fell as much as 4.5% in early trading, after the firm saw net outflows of £10.5bn in Q4, its 15th consecutive quarter of outflows.

Shares fell 4.5% earlier this morning but rebounded by 10.50am to around 250p, a loss of 3.4% so far on the day. In a trading update, the group said the outflows were "largely low margin and anticipated", as chief executive Martin Gilbert (pictured) warned of further short-term withdrawals. The group said the net outflows included two large redemptions amounting to £4.2bn of active equity mandates from a UK wealth manager and a sovereign wealth fund, already reported in 2016 results, alongside anticipated structural outflows from certain institutional clients. This morning's tradin...