Aberdeen's Gilbert: No one can accuse us of being closet indexers

Annual results reveal further outflows

Anna Fedorova
Aberdeen's Gilbert: No one can accuse us of being closet indexers

Martin Gilbert, CEO of Aberdeen Asset Management, has voiced his support for the Financial Conduct Authority's Asset Management Market Study, saying it is imperative for truly active funds to have a high tracking error.

Speaking following the release of the firm's annual results, Gilbert (pictured) said: "No one can accuse us of being closet indexers. We have achieved some remarkable outperformance and underperformance. "If you are going to charge an active fee, you have got to have a [significant] tracking error. If you are going to have a 1% tracking error, you cannot charge 1% for managing that." The CEO also supported the proposal of an all-in management fee made by the FCA, saying this is something Aberdeen would be happy to bring forward to their clients in the interests of transparency, though...

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