GLG's Dixon: Aberdeen faces short-term pain but 2015 looks brighter

Top UK stockpicker Henry Dixon has warned fellow shareholders in Aberdeen Asset Management they face a tough six months, but said the longer-term outlook for the group remains strong.

Dixon (pictured) recently moved to GLG to run a mirror of his Matterley Undervalued Assets fund, and has also been put in charge of the group’s Income fund. He said Aberdeen is likely to be dogged by selling pressure in the near term as sentiment towards emerging markets remains negative. “It faces a difficult six-month period,” he said. “We cannot stand in the way of the emerging market flows story in the short term.” Dixon has cut the weighting of the stock in the £65m Income fund – previously run by John White – from 3.6% to 2% as a result, but said he has faith it will bounce b...