Aberdeen Asset Management saw its assets under management (AuM) rise by 2.4% to £290.6bn for the three months to 31 December 2015, compared to £283.7bn as of 30 September 2015.
The Scottish fund manager registered net outflows £9.1bn during the quarter, versus £12.7bn in the prior quarter. The group’s gross outflows of £20bn were again impacted by withdrawals by sovereign wealth funds.
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Gross inflows totalled £10.9bn, against £9.5bn for the quarter ended 30 September 2015.
Aberdeen said market and foreign exchange movements were positive for the quarter, adding £8.5bn to assets under management.
The acquisitions of Arden Asset Management and Advance Emerging Capital in December 2015 have added a further £7.5bn to AuM.
The group said it has also identified further cost savings beyond the £50m already announced and will provide additional details on those further cost reductions in the interim results announcement in May 2016.
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By GlobalDataFor the three months to 31 December 2015, equities saw net outflows of £6.3 billion compared to £7.9bn as of 30 September 2015, while other asset classes saw a net outflow of £3.3bn from Aberdeen solutions and fixed income as well as property each attracted small inflows.
Aberdeen CEO Martin Gilbert said: "During the quarter we added to the business further, completing the acquisitions of Arden and Advance, followed by Parmenion in early January.
"We are committed to our fundamental approach to investing, managing the business efficiently with a keen focus on costs and most of all striving to deliver the long-term returns that our clients and shareholders have come to expect from Aberdeen.
"Our increasingly diversified business model and strong balance sheet mean we are well placed to navigate the current difficult market conditions offering a wide range of investment capabilities for investors."
