Aberdeen Asset Management

Aberdeen Asset Management has warned investors to watch out for a scam artist claiming to represent the firm.

Aberdeen Asset Management this morning reported it had seen AUM drop 3% as outflows continued from its equity funds and inflows dropped back sharply, following its move to cap Devan Kaloo's emerging markets fund.

Investors looking at asset managers' shares should be buying into Jupiter, Schroders and Aberdeen this year, as major acquisitions and RDR continue to benefit the three businesses, according to JPM Cazenove analysts.

Aberdeen Asset Management is the biggest faller in the FTSE 100 index on the first trading day of 2014, as investors take profits after a stunning run higher for the business recently.

Deputy chief executive Andrew Laing has sold 1.17m shares in Aberdeen Asset Management two weeks after Martin Gilbert and Hugh Young also sold a large proportion of their holdings.

AFRICA

Standard Chartered saw its stock price plummet 7% during trading today after warning of its first fall in operating profits for a decade.

Henderson Global Investors has hired Aberdeen Asset Management's Andrew Gillan to head its Asian equities team, following the announcement he had resigned from his previous role.

Australian banking giant Macquarie Group has moved to scupper Aberdeen Asset Management's deal to buy Scottish Widows Investment Partnership (SWIP) after making a £500m cash offer for the business, according to reports.

Aberdeen Asset Management could cut 150 jobs if the deal to acquire Scottish Widows Investment Partnership (SWIP) goes ahead, according to reports.