Aberdeen shares jump 6% as flows hit £3.5bn in two months

Aberdeen Asset Management shares have jumped as the group reported net inflows of £3.5bn in the first two months of 2013.

The better-than-expected inflows, which came even as the group began to engineer a "considerable reduction" in GEM equity flows, sent shares up 6.6% in early trading. In a pre-close trading update, Aberdeen said total assets under management rose from £193.4bn at end-December 2012 to £212.3bn by 28 February, an increase of 10%. That figure was driven by the £3.5bn in net inflows, £7.3bn in market movements and £8.1bn in positive exchange rate movements. Net new business was driven by equity flows, where £4.3bn in net flows easily offset a £400m fixed income outflow and £200m respec...