Managers take opposite sides of Aberdeen trade after EM collapse

Managers at Odey and M&G have taken opposing views on the fortunes of Aberdeen Asset Management as the impact of the emerging market sell-off polarises opinions.

Emerging markets, already out of favour with investors at the start of 2013, have seen sentiment take a turn for the worse this summer. Caught between concerns over a slowing China and the prospect of the US Federal Reserve turning off the liquidity taps, EM underperformance has accelerated over the past quarter. The MSCI Emerging Markets Index is down 8.7% on a three month view, compared with a 0.6% rise for the MSCI World over the same period. That has translated into a difficult summer for Aberdeen, too. A strong 12 months saw shares reach a high of 492p in May - a level not s...