aberdeen sees aum grow 10bn

Aberdeen Asset Management saw £10bn added to its AUM in the two months to the end of February, with a strong showing from its equity products largely to thank for the boost.

aberdeen sees aum grow 10bn

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The fund house saw net new business of £1.4bn during the period, according to its trading update today, while statistics from Lipper show its net sales of £0.83bn into equity funds in January alone meant it started the year as "fastest out of the blocks".

Total AUM at 29 February were £184.4bn, up from £173.9bn at the end of December 2011.

Equity products represented the biggest chunk of the increase, seeing an £8.2bn rise from market appreciation, performance and currency movements alone.

Aberdeen’s equity products were also the only asset class to see inflows, while fixed income, property, money market and Aberdeen solutions products saw minor outflows during the period.

Firm favourites

The firm said the momentum of new business flows remains biased to higher margin pooled funds with outflows limited to lower margin strategies.

"Fixed income outflows have slowed significantly from previous quarters and we continue to see encouraging interest for both emerging market debt and our Asian local currency short duration product."

Last ditch efforts from investors to get money into the firm’s highly-prized emerging markets strategy before inflows are limited from 1 April have also had an impact.

"As previously highlighted, we are not prepared to compromise the quality of our portfolios and we are actively seeking to curtail the rate of inflows to more sustainable levels," Aberdeen said.

At the start of February Aberdeen issued a letter to "significant investors" in its EM fund, announcing its intentions with the fund. Click here for more.

Looking for a GEM alternative to Aberdeen? See what our readers suggested here.

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