Aberdeen Asset Management's assets under management increased 62% to £324.4 billion ($508.5 billion) in the year ended Sept. 30, due in part to the acquisition of Scottish Widows Investment Partnership in March.
The integrated SWIP business accounted for £135.1 billion of the total assets under management, said the financial update by Aberdeen. Excluding the SWIP business, Aberdeen's AUM was £189.3 billion, a 5.5% drop compared to Sept. 30, 2013.
Overall net outflows were £20.4 billion, compared to net outflows of £2.5 billion for the year ended Sept. 30, 2013. The Aberdeen business accounted for £16 billion of the overall net outflows, while SWIP accounted for the remaining £4.5 billion.
However, net outflows slowed in the three months ended Sept. 30, at £2.8 billion, compared with £8.8 billion for the three months ended June 30.
Within the Aberdeen business, equities contributed £12.4 billion of the yearly net outflows, followed by £4.3 billion in net outflows from global and European, Australasia and Far East strategies, and a further £4.1 billion of net outflows from global emerging markets strategies.