Aberdeen Asset Management on Monday announced assets under management of £184.7 billion ($300 billion) as of March 31, up 9% from Sept. 30.
The increase was driven primarily by market appreciation, as net outflows in the six-month period were £379 million. Net inflows of £4.9 billion in equities were dragged down by net outflows of £2.3 billion in bonds and £1.8 billion in multiasset and alternative strategies. Net outflows were also seen in money market funds, £864 million, and real estate, £268 million.
Emerging markets strategies continued to shine, however. Emerging markets equity net inflows totaled £3.6 billion in the six-month period, accounting for nearly 74% of equity net inflows, while emerging markets debt strategies had net inflows of £333 million, the strongest positive net flows among the firm's fixed-income strategies.
Across all strategies, Aberdeen's segregated mandates had net outflows of £3.5 billion, while pooled funds had net inflows of £3.1 billion.
Revenue for the period grew 7% to £413.1 million, with an operating margin of 40.1%, up from 39.5% as of Sept. 30.
The firm's average management fee rose to 43.9 basis points, up 6.5% from 41.2 basis points as of Sept. 30.