Top UK stockpicker Henry Dixon has warned fellow shareholders in Aberdeen Asset Management they face a tough six months, but said the longer-term outlook for the group remains strong.
Fresh plunges in the value of emerging market currencies have send equities sharply lower this morning, with an analyst downgrade adding to the pain for EM-focused Aberdeen.
Analysts at Canaccord Genuity have raised their price target for Aberdeen Asset Management by more than 10% following its deal to buy Scottish Widows Investment Partnership (SWIP).
Aberdeen chief executive Martin Gilbert has netted £8.6m from the sale of 1.78m shares in the firm, according to a regulatory filing.
Despite the slowdown in Asian growth this year, the banking sector remains in rude health, according to Aberdeen Asset Management's Hugh Young.