Aberdeen sees first-half profits surge 54%

Aberdeen Asset Management has seen its profit before tax surge 54% to £142.8m for the six months to the end of March.

Assets under management grew to £181.2bn by the end of March, up from £170.9bn during the same period in 2010. However, this is despite outflows of £700m, compared with £100m of net new business in the six months until March 2010. The firm's chief executive Martin Gilbert said: "Demand for Aberdeen's established Asia Pacific, emerging market and global equities products has remained strong and there is a growing interest in some of our fixed income, property and alternative capabilities. "Macro events in recent months have generated significant volatility in global markets and this...