Aberdeen sees modest summer outflows

Fund manager Aberdeen Asset Management reported a net outflow over the summer, while assets under management edged up to £184.3bn at the end of August.

Aberdeen, led by chief executive Martin Gilbert, said today that strong fund performance outweighed the outflows.

Overall, the group attracted £6.1bn of new business during July and August, while outflows totalled £0.1bn.

"With uncertainty surrounding the global macroeconomic situation, our disciplined and fundamental approach to investing continues to attract flows from a wide range of clients from around the world," Gilbert said this morning.