Aberdeen shares fall after £2.8bn outflow in Q4

Shares in Aberdeen Asset Management fell during trading today after it posted net outflows of £2.8bn in the fourth quarter of last year.

Aberdeen's share price is down 2.5% or 5.7p to 224.2p, at 12:09pm, after the group delivered its trading update this morning revealing over £2bn of outflows from its fixed income arm.

The fixed income division reported £2.1m of outflows, while lower margin strategies also experienced redemptions.

Net outflows increased £1.1bn from the previous quarter at the end of September.

However, assets under management rose from 2.4% to £173.9bn, due to positive market movements.

Aberdeen chief executive Martin Gilbert said new business flows were focused on higher margin offerings, with strong appetite for its emerging market and global equity products.

"New business flows remain focused on our higher margin pooled funds with outflows largely limited to lower margin strategies," said Gilbert.

He said the investment performance had been robust in the face of ongoing macroeconomic instability.

"I am confident that Aberdeen's disciplined investment processes and our unerring focus on fundamentals rather than market noise will continue to deliver for our clients over the long term," he added.