Aberdeen Asset Management reported £322.5 billion ($547.6 billion) in assets under management as of June 30, a 0.6% decrease from three months earlier and an increase of 53.9% compared with a year previous, said a financial statement Monday.
The manager recorded net outflows of £8.8 billion during the quarter ended June 30, with £3.3 billion attributed to the integration of Scottish Widows Investment Partners, which Aberdeen said in a statement accompanying the figures it was largely “anticipated.” Aberdeen completed its acquisition of SWIP in April.
New business flows for the three months ended June 30 were affected by a single client withdrawal of about £4 billion from the firm's Asia-Pacific and global equities strategies, according to the statement. However, Aberdeen said it has won more than £2 billion of new mandates, which have not yet been funded, but are spread “across Asia-Pacific and global equities, emerging market debt and property.” It has also won new allocations in diversified alternatives and real estate multimanager this month, it said.
Excluding SWIP, Aberdeen's equities business suffered £4.3 billion of net outflows, while fixed income recorded £560 million of net outflows and Aberdeen solutions — which includes multiasset strategies — had net outflows of £726 million. Real estate, however, recorded net inflows of £36 million.
Within equity outflows, withdrawals from global and Europe, Australasia and Far East funds totaled £2.4 billion, and Asia-Pacific net outflows were £1.7 billion. Only European equities recorded net inflows, at £19 million for the three months ended June 30.
Within fixed income, all funds recorded net outflows except emerging markets, with £717 million of net inflows, and high-yield funds, with £26 million of net inflows.
