The firm’s total AUM now stands at £209.6bn following outflows of £3.4bn in the three months to end of June. Lower margin products and AUM acquired from Artio accounted for the majority of outflows.
New business increased year-on-year from £8.8bn in the same period last year, and total new business for the past nine months now stands at £34.3bn, also a year on year increase from the £27bn reported last year.
Earlier in the year the firm introduced an initial charge on its GEM range in a bid to reduce inflows into the products. These measures have been successful, and the firm actually reported a small net outflow which it states were largely in line with expectations and were offset by net inflows into Asia Pacific.
The table shows a breakdown of business activity for the quarter.
| Equities (£bn) | Fixed income (£bn) | Aberdeen solutions (£bn) | Property (£bn) | Money market (£bn) | Total (£bn) | |
| AUM 31 March 2013 | 124.3 | 37.4 | 24.4 | 18.5 | 7.7 | 212.3 |
| Corporate transactions | 0.8 | 5.9 | 4.3 | – | – | 11 |
| Net new business flows exc Artio | -0.5 | -1.4 | -0.8 | -0.3 | -0.1 | -3.1 |
| Net new business flows – Artio | -0.1 | -0.2 | – | – | – | -0.3 |
| Market movements, performance & FX | -6.6 | -2.8 | -0.5 | -0.2 | -0.2 | -10.3 |
| AUM 30 June 2013 | 118 | 38.8 | 27.4 | 18 | 7.4 | 209.6 |
| Source: Aberdeen | ||||||
Martin Gilbert, chief executuive, said: “We have delivered resilient figures during the third quarter given the volatile global market conditions. Our disciplined investment approach meant a broad range of our products attracted interest from investors although towards the end of the period outflows increased due to heightened market turbulence.”
Aberdeen completed two acquisitions in the quarter, those of Artio Global Investors and SVG Advisers. The former added £5.9bn in fixed income assets and £0.8bn of international equity, while the latter brought £4.3bn in funds of private equity.
