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Pre-Close Trading Update

24th Sep 2012 07:00

RNS Number : 9074M

Aberdeen Asset Management PLC

24 September 2012

ABERDEEN ASSET MANAGEMENT PLC

PRE-CLOSE TRADING UPDATE

Highlights

·; AuM at 31 August 2012: £184.3 billion (30 June 2012: £182.7 billion)

·; Gross new business of £6.1 billion in the two month period under review, net outflows of £0.1 billion

·; Trend of new business flows into higher margin products continues

·; Overall performance across asset classes remains robust

In advance of entering a close period ahead of the announcement of annual results for the 12 months to 30 September 2012, Aberdeen provides the following trading update.

Assets under management ("AuM") at 31 August 2012 totalled £184.3 billion, a 1% increase on the total at 30 June 2012, as reported in our last Interim Management Statement. The principal movements are summarised in the following table.

	Equities £bn	Fixed income £bn	Aberdeen solutions £bn	Property £bn	Money market £bn	Total £bn
AuM at 30 June 2012	93.5	38.1	23.8	19.0	8.3	182.7
Net new business flows for the period	2.0	(1.3)	(0.7)	-	(0.1)	(0.1)
Market appreciation, performance & FX	1.6	-	0.5	(0.3)	(0.1)	1.7
AuM at 31 August 2012	97.1	36.8	23.6	18.7	8.1	184.3

Gross new business flows for the two months to 31 August 2012 totalled £6.1 billion, bringing the total for the 11 months year to date to £33.1 billion (11 months to 31 August 2011: £39.9 billion). Net new business showed outflows of £0.1 billion for the two months to 31 August 2012, resulting in net outflows of £0.2 billion for the 11 month period (11 months to 31 August 2011: net outflow £0.8 billion).

Inflows continue to be biased towards higher margin pooled products with outflows mainly from lower margin segregated mandates. The main contributors of inflows have again been our Asia Pacific, global emerging markets and global equities products, with encouraging inflows also seen into our emerging market debt capability. We estimate that the net flows for the two month period to 31 August will add approximately £10 million of annualised recurring fee income.

Investment performance has been good as our investment philosophy and disciplined process have continued to deliver through variable market conditions. While markets have been more settled recently, we retain a degree of caution in our outlook but we believe we are well placed to continue our progress.

The announcement of the company's annual results for the year to 30 September 2012 will be made on 26 November 2012.

Martin Gilbert, Chief Executive of Aberdeen, commented:

"With uncertainty surrounding the global macro-economic situation our disciplined and fundamental approach to investing continues to attract flows from a wide range of clients from around the world. Our strong performance across a variety of capabilities and products means we remain well positioned to meet the needs of investors in a constantly changing environment."

For further information please contact:

Aberdeen Asset Management PLC + 44 (0) 20 7463 6000

Martin Gilbert

Bill Rattray

Maitland + 44 (0) 20 7379 5151

Neil Bennett

Rowan Brown

ASSETS UNDER MANAGEMENT AT 31 AUGUST 2012

	31 Mar 12 £bn	30 Jun 12 £bn	31 Aug 12 £bn
Equities	92.9	93.5	97.1
Fixed income	39.1	38.1	36.8
Aberdeen solutions	24.8	23.8	23.6
Property	19.5	19.0	18.7
Money market	8.4	8.3	8.1
	184.7	182.7	184.3
Segregated mandates	103.9	102.5	102.4
Pooled funds	80.8	80.2	81.9
	184.7	182.7	184.3

OVERALL NEW BUSINESS FLOWS FOR 11 MONTHS TO 31 AUGUST 2012 - BY MANDATE TYPE

	6 mths to 31 Mar 12 £m	3 mths to 30 Jun 12 £m	9 mths to 30 Jun 12 £m	2 mths to 31 Aug 12 £m	11 mths to 31 Aug 12 £m
Gross inflows:
Segregated mandates	6,230	3,133	9,363	2,044	11,407
Pooled funds	11,988	5,660	17,648	4,029	21,677
	18,218	8,793	27,011	6,073	33,084
Outflows:
Segregated mandates	9,737	4,014	13,751	3,426	17,177
Pooled funds	8,860	4,474	13,334	2,725	16,059
	18,597	8,488	27,085	6,151	33,236
Net flows:
Segregated mandates	(3,507)	(881)	(4,388)	(1,382)	(5,770)
Pooled funds	3,128	1,186	4,314	1,304	5,618
	(379)	305	(74)	(78)	(152)

OVERALL NEW BUSINESS FLOWS FOR 11 MONTHS TO 31 AUGUST 2012 - BY ASSET CLASS

	6 mths to 31 Mar 12 £m	3 mths to 30 Jun 12 £m	9 mths to 30 Jun 12 £m	2 mths to 31 Aug 12 £m	11 mths to 31 Aug 12 £m
Gross inflows:
Equities	11,343	5,378	16,721	3,756	20,477
Fixed income	3,355	1,463	4,818	1,060	5,878
Aberdeen solutions	1,154	578	1,732	338	2,070
Property	362	182	544	210	754
Money market	2,004	1,192	3,196	709	3,905
	18,218	8,793	27,011	6,073	33,084
Outflows:
Equities	6,445	2,870	9,315	1,755	11,070
Fixed income	5,685	3,073	8,758	2,354	11,112
Aberdeen solutions	2,969	1,128	4,097	1,069	5,166
Property	630	118	748	189	937
Money market	2,868	1,299	4,167	784	4,951
	18,597	8,488	27,085	6,151	33,236
Net flows:
Equities	4,898	2,508	7,406	2,001	9,407
Fixed income	(2,330)	(1,610)	(3,940)	(1,294)	(5,234)
Aberdeen solutions	(1,815)	(550)	(2,365)	(731)	(3,096)
Property	(268)	64	(204)	21	(183)
Money market	(864)	(107)	(971)	(75)	(1,046)
	(379)	305	(74)	(78)	(152)

NEW BUSINESS FLOWS FOR 11 MONTHS TO 31 AUGUST 2012 - EQUITIES

	6 mths to 31 Mar 12 £m		3 mths to 30 Jun 12 £m	9 mths to 30 Jun 12 £m		2 mths to 31 Aug 12 £m	11 mths to 31 Aug 12 £m
Gross inflows:
Asia Pacific		2,569	1,654	4,223	1,152		5,375
Global emerging markets		6,129	2,217	8,346	1,499		9,845
Europe		53	6	59	31		90
Global & EAFE		2,409	1,200	3,609	1,027		4,636
UK		55	43	98	9		107
US		128	258	386	38		424
		11,343	5,378	16,721	3,756		20,477
Outflows:
Asia Pacific		1,915	804	2,719	644		3,363
Global emerging markets		2,510	1,423	3,933	741		4,674
Europe		100	42	142	31		173
Global & EAFE		1,297	429	1,726	249		1,975
UK		147	84	231	35		266
US		476	88	564	55		619
		6,445	2,870	9,315	1,755		11,070
Net flows:
Asia Pacific		654	850	1,504	508		2,012
Global emerging markets		3,619	794	4,413	758		5,171
Europe		(47)	(36)	(83)	-		(83)
Global & EAFE		1,112	771	1,883	778		2,661
UK		(92)	(41)	(133)	(26)		(159)
US		(348)	170	(178)	(17)		(195)
		4,898	2,508	7,406	2,001		9,407

NEW BUSINESS FLOWS FOR 11 MONTHS TO 31 AUGUST 2012 - FIXED INCOME

	6 mths to 31 Mar 12 £m		3 mths to 30 Jun 12 £m		9 mths to 30 Jun 12 £m	2 mths to 31 Aug 12 £m	11 mths to 31 Aug 12 £m
Gross inflows:
Asia Pacific		380	105	485		73	558
Australia		1,337	487	1,824		299	2,123
Convertibles		54	23	77		21	98
Currency overlay		88	4	92		8	100
Emerging markets		784	535	1,319		399	1,718
Europe		122	33	155		68	223
Global		70	21	91		7	98
High yield		218	60	278		37	315
UK		63	101	164		100	264
US		239	94	333		48	381
		3,355	1,463	4,818		1,060	5,878
Outflows:
Asia Pacific		159	601	760		59	819
Australia		1,595	624	2,219		276	2,495
Convertibles		66	34	100		11	111
Currency overlay		144	31	175		46	221
Emerging markets		451	339	790		166	956
Europe		185	229	414		208	622
Global		1,589	86	1,675		1,162	2,837
High yield		94	75	169		26	195
UK		1,061	731	1,792		289	2,081
US		341	323	664		111	775
		5,685	3,073	8,758		2,354	11,112
Net flows:
Asia Pacific		221	(496)	(275)		14	(261)
Australia		(258)	(137)	(395)		23	(372)
Convertibles		(12)	(11)	(23)		10	(13)
Currency overlay		(56)	(27)	(83)		(38)	(121)
Emerging markets		333	196	529		233	762
Europe		(63)	(196)	(259)		(140)	(399)
Global		(1,519)	(65)	(1,584)		(1,155)	(2,739)
High yield		124	(15)	109		11	120
UK		(998)	(630)	(1,628)		(189)	(1,817)
US		(102)	(229)	(331)		(63)	(394)
		(2,330)	(1,610)	(3,940)		(1,294)	(5,234)

NEW BUSINESS FLOWS FOR 11 MONTHS TO 31 AUGUST 2012 - ABERDEEN SOLUTIONS

	6 mths to 31 Mar 12 £m		3 mths to 30 Jun 12 £m		9 mths to 30 Jun 12 £m		2 mths to 31 Aug 12 £m	11 mths to 31 Aug 12 £m
Gross inflows:
Indexed equities		4	4	8		1		9
Multi asset		459	140	599		158		757
Long only multi manager		629	408	1,037		155		1,192
Funds of hedge funds		62	26	88		24		112
Funds of private equity		-	-	-		-		-
		1,154	578	1,732		338		2,070
Outflows:
Indexed equities		310	386	696		176		872
Multi asset		498	265	763		334		1,097
Long only multi manager		1,666	323	1,989		302		2,291
Funds of hedge funds		494	154	648		257		905
Funds of private equity		1	-	1		-		1
		2,969	1,128	4,097		1,069		5,166
Net flows:
Indexed equities		(306)	(382)	(688)		(175)		(863)
Multi asset		(39)	(125)	(164)		(176)		(340)
Long only multi manager		(1,037)	85	(952)		(147)		(1,099)
Funds of hedge funds		(432)	(128)	(560)		(233)		(793)
Funds of private equity		(1)	-	(1)		-		(1)
		(1,815)	(550)	(2,365)		(731)		(3,096)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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