Aberdeen AUM down 4% as outflows continue

Aberdeen Asset Management has seen net outflows of £1.2bn in the two months to 31 August, pushing AUM down 4% over the period.

Around half the outflows were from emerging market equity funds as a result of subdued investor sentiment and capacity management. As an investment house with a strong emerging market offering, Aberdeen has suffered over the past months as investors pulled money out of the region on China concerns and Fed tapering talk. The group already saw net outflows of £3.4bn in the second quarter, with £0.9bn of this resulting from capacity management on the Global Emerging Markets fund, on which an initial charge of 2% was introduced earlier in the year to stem flows. Aberdeen's assets under...