Aberdeen reports net inflows of £300m in Q2
Net new business flows £400m lower than the corresponding period in 2011 as equities inflows offset by flight from fixed-income.
Releasing its interim management statement today (23 July), Aberdeen Asset Management has reported net new business flows of £300m for the three months to 30 June 2012.
While impressive in the current climate, this figure is £400m lower than the net business inflows the firm recorded in the same period in 2011.
New equity business flows amounting to some £2.5bn were offset by a £1.6bn flight away from fixed income funds, which many are suggesting have become increasingly expensive as gilt prices have fallen, and £600m outflows from Aberdeen solutions.
Inflows of £100m in property were undone by equal outflows in the money market.
Overall assets under management for the company dropped £2bn in the quarter, down to £182.7bn from £184.7 at 31 March 2012.
Martin Gilbert, chief executive of Aberdeen, said: “This has been another successful quarter for Aberdeen, despite the global economic uncertainties and subdued conditions in the world’s financial markets.
“We continue to concentrate on delivering superior investment performance and service for our clients, which enables us to grow organically whilst maintaining a strong balance sheet.”