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 s...