Aberdeen Asset Management reported assets under management of £323.3 billion ($486.6 billion), as of Dec. 31, a 0.34% drop from three months earlier, with outflows across all four parts of the business.
Aberdeen said December was a “difficult month,” in a statement accompanying a financial update Tuesday. However, it added that new business flows “returned to normal levels in January.”
The money manager's equities, fixed income, solutions and real estate strategies all suffered net outflows, excluding real estate strategies at Scottish Widows Investment Partnership, which the firm acquired last year.
Total net outflows for the quarter across Aberdeen's strategies were £3.3 billion, and £1.5 billion for SWIP strategies.
Assets within the firm's equities strategies fell 1.2% to £106.3 billion, with £900 million of net outflows. Fixed-income strategies recorded net outflows of £1.5 billion, but positive market performance and effects of foreign exchange resulted in AUM increasing 0.8% to £72 billion. The Aberdeen solutions unit recorded a 0.1% increase in AUM, to £125.1 billion; real estate saw a 2.5% drop in AUM to £19.9 billion.
“The recent quarter can be considered in two parts,” said Martin Gilbert, CEO of Aberdeen, in the statement. “October and November were encouraging with overall flows in line with the previous quarter and equity flows positive. However, December was a reminder that investor sentiment remains fragile.”
