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Rating:Aberdeen Outflows Reach $5 Billion Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 29, 2013

Aberdeen Outflows Reach $5 Billion

News summary by MFWire's editors

Aberdeen Asset Management [profile] Aberdeen Asset Managementstated that investors pulled $5.23 billion out of its funds, or 3.4 billion pounds, in the three months to the end of June, contrasted with analyst expectations of 1.3 billion pounds, Reuters reports. Those outflows mostly came from lower margin products.

Aberdeen also reported that total assets under management declined 1 percent to 209 billion pounds in the quarter. Reuters writes that Analysts at RBC Markets forecasted negative investment performance of 8.5 billion pounds but Aberdeen posted 10.3 billion pounds.

The stock fell 2.4 percent as of 8 a.m. in London trading, Bloomberg reporter Liam Vaghan writes in his coverage of the Aberdeen outflows.

To read more, click here and here

Edited by: Casey Quinlan


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