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Aberdeen Asset Management reaches record high of £212 billion

Aberdeen Asset Management reaches record high of £212 billion

Scottish financial services firm Aberdeen Asset Management saw the value of the holdings it oversees spike to a record high of £212 billion last month.

The figure which was reached on February 28 represented a 10% jump from the £193.4bn held by the asset manager at the end of last year.

New inflows secured by AAM in the first two months of the year totalled £9.5bn in total.

However, traffic out of the business during the same period cut the financial boost to the firm to £3.5bn.

Asia Pacific and global emerging markets remain the best performing AAM globally.

Europe and the US continued to suffer from low investor appetite.

Business in emerging markets has been so strong that AAM has taken steps to ensure the benefits to existing investors were not compromised.

Despite the strong start to this year, in a pre-close update yesterday the company said it remained cautious about global market conditions, but was confident about achieving further organic growth.

AAM chief executive Martin Gilbert said: “We have seen another positive period for Aberdeen, with continuing investor interest in a range of our products complemented by two infill transactions announced in February.

“Despite the strong start to the year for markets generally, economic problems remain and the investment environment is likely to be challenging for some time to come,” he said.

“However, we believe our fundamental approach to investing will continue to serve our clients well over the long term,” he added.

Shares in AAM closed 2.8p higher last night at 411.8p.

The company’s results for the six months to the end of March will be posted on April 29.

business@thecourier.co.uk