PHIL DOBBIN | ESPIRITO SANTO
We feel this additional payment [for Swip] was already expected by the market and is not, in the company’s words, “a game changer”....Overall we are reassured that net flows, while difficult in January and February, are not deteriorating in March.
PETER LENARDOS | RBC
Aberdeen is stabilising, and that is positive. We believe that operating profit margins should remain above sector averages, and that the Swip acquisition remains materially accretive. Aberdeen’s valuation is a discount to sector averages on all metrics.
CHRIS TURNER | GOLDMAN SACHS
Although flows in the group's core equity products were a little worse than our forecast, the group’s aggregate AUM [assets under management] was less impacted by adverse market moves than we had expected, such that the group’s total AUM is broadly in line with our expectations.