Aberdeen's AUM increases 10.2%

Aberdeen saw strong inflows into its equity strategies; other asset classes had net outflows

Aberdeen Asset Management on Monday reported £187.2 billion ($300 billion) in assets under management as of Sept. 30, a 10.2% increase from a year earlier and up 2.5% from the previous quarter.

The 12-month increase came exclusively from market improvements, which boosted AUM by £21.9 billion, according to company reports. Changes in currency valuations subtracted £5.4 billion, while net flows were slightly negative at £49 million for the year.

Aberdeen saw strong inflows — a net £10.2 billion — into its equity strategies, especially its global emerging markets, Asia Pacific and global strategies.

However, all other asset classes had net outflows for the year, led by fixed income, where AUM slid £5.7 billion, and solutions, down £3.2 billion. Money market and property assets were down £1.1 billion and £200 million, respectively.

Net outflows from segregated mandates were £6.35 billion, which were replaced by net inflows of £6.3 billion into higher-margin pooled funds. The loss of segregated business didn't necessarily mean a decline in institutional assets, spokesman James Thorneley said, as institutional clients also use pooled fund structures.

Revenue climbed 11% to £869.2 million, while pretax profit rose 15% to £347.8 million.