Aberdeen

Francis Brooke, manager of the £428m Troy Trojan Income fund, has initiated a position in Aberdeen Asset Management as he believes the company is transforming itself into a "cashflow machine".

Aberdeen Asset Management is moving to limit inflows into its EM fund range, including Devan Kaloo's £6bn Global Emerging Markets Equity and £2.7bn Emerging Markets funds.

Mainstream investors can remember when many of the largest countries in the emerging world experienced bouts of volatility, elevated borrowing costs, currency devaluations, high political risk and episodes of default.

ETHICAL

Shares in Aberdeen Asset Management fell during trading today after it posted net outflows of £2.8bn in the fourth quarter of last year.

Peter Elston has taken on the newly-created role of head of Asia Pacific strategy and asset allocation on Hugh Young's Singapore-based team.

Aberdeen Asset Management is set to consolidate its multi-manager range, run by co-heads of MM Graham Duce and Aidan Kearney.

Pre-tax profit at Aberdeen Asset Management rose by 44% in the 12 months to the end of September even as net new business dropped by £1.6bn over the same period.

SPECIAL REPORT

Close Asset Management fixed income head Mark Parry has joined Aberdeen as a senior investment management within its multi-asset team.