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AAM's assets top £100bn



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ABERDEEN Asset management (AAM), the Scottish fund manager, said its assets under management at the end of December had risen to £102.9 billion, from £95.3bn at the end of September. Net new business in the fourth quarter was £100 million, with the group winning further mandates of £2.7bn that had not been funded by the end of the latest quarter.
Scotland's biggest independent money manager said that, over the period, it added almost £1.65bn of inflows to its bond and property funds, offsetting outflows of around £1.56bn from equity-based funds. Chief executive Martin Gilbert said: "In the context of an increasingly volatile market environment, we are continuing to win new business across all asset classes."

AAM said it expected market conditions to "remain difficult in the coming months" but said that its diverse portfolio and global reach left its "confident of continuing to add net new business over the rest of the financial year".

Mr Gilbert noted that the first two weeks of 2008 had "opened strongly".



The full article contains 177 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 18 January 2008 11:10 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Aberdeen Asset Management
 
1

Mallory,

Edinburgh 18/01/2008 13:00:39
Where is the news about Scottish Equitable then?

According to the Guardian
http://www.guardian.co.uk/money/2008/jan/18/property.moneyinvestments

One of Britain's biggest property funds was forced to shut its doors to withdrawals yesterday after the slump in commercial prices triggered panic selling by small investors.

The move prompted fears of a Northern Rock-style run on billions of pounds invested in once high-flying funds which many savers have seen as a safe haven for their pensions.

Scottish Equitable said yesterday that 129,000 small investors in its £2bn property fund will not be able to access their money for up to a year, although payments relating to regular income already being paid, retirements and death claims will not be affected.

It said the fund, invested in London office blocks and shopping centres across Britain, no longer had sufficient cash reserves to meet demands from investors wanting to withdraw their money. Its "buffer fund" was down to 1% of its total assets, instead of the usual 10-15%.



 

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