Assets dip at Aberdeen but inflows jump

 
City A.M. Reporter
FUND manager Aberdeen Asset Management said sales of equity funds more than offset outflows from other asset classes in the first two months of 2011, bringing net inflows to £200m .

At 28 February, Aberdeen had total assets under management (AUM) of £176.2bn, down four per cent on the same period last year due to falling markets and negative currency effects.

During the first two months of 2011, £1bn of new money had flowed into Aberdeen’s equity funds, more than offsetting £800m pounds of outflows from fixed income, alternative investments, property and money markets.

Chief executive Martin Gilbert said the net inflows were encouraging and the “outlook for organic growth of assets under management remained favourable”.

Aberdeen noted equity pooled funds generated “significantly higher revenue margins than the outflows.”

The company also expected to see further fixed-income inflows later this year.