Aberdeen

Aberdeen Asset Management today said outflows from its business had slowed significantly following a sustained period of redemptions, with the group also seeing better than expected flows from recent acquisition SWIP.

Shares in the largest Scottish companies, notably financials, helped power the FTSE 100 higher this morning after the results of the Scottish referendum revealed the country had voted to remain part of the UK.

Fund managers, economists, and currency traders waited with bated breath for the outcome of the historic referendum in which Scotland would decide its future - whether inside or outside the UK.

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Scottish fund managers have suffered outflows in recent months amid increased uncertainty over the outcome of the country's independence referendum.

The cyclicality of listed asset management businesses has been called into question as big names spring dividend surprises and attract the interest of UK equity income managers.

Scotland's fund industry is lining up tax and legal specialists ahead of the independence referendum, as some predict continuing uncertainty whatever the result.

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Aberdeen Asset Management has seen double the outflows it expected from its funds following completion of the SWIP takeover.