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Aberdeen sees increased inflow
Aberdeen Asset Management’s first quarter performance fell below analysts expectations with a 2.6 per cent increase for assets under management (AUM) to £183.3bn. The fund manager saw outflows of £800m after clients withdrew from some property and fixed income funds as investors looked to boost exposure to equities. However, AUM increased to £183.3bn. Analysts at Numis downgraded forecasts for the company, after it failed to meet forecasts by two per cent. Aberdeen chief executive Martin Gilbert said: “It has been a solid quarter for Aberdeen and we are pleased with the progress made. “The group is well positioned to build on this momentum, despite volatile market conditions, as we continue to prioritise organic growth.”