28th Mar 2007 07:02
Aberdeen Asset Management PLC28 March 2007 Wednesday 28 March 2007 ABERDEEN ASSET MANAGEMENT PLC TRADING STATEMENT Aberdeen Asset Management is issuing the following trading update ahead ofinterim results for the six months to 31 March 2007, which will be announced on1 May 2007. The first five months of the new financial year have seen continued strongorganic growth, with healthy new business figures delivered by the Group'sequity, bond and property teams. The strength and depth of our global productoffering will be supplemented by the proposed acquisition of certain Australianfund management businesses from Deutsche Bank, which was the subject of aseparate announcement last week, and the Group's presence in the Australianinstitutional market will also be enhanced. Despite some recent volatility and weakness across global stock markets,investment performance remains robust. As a result, new business momentum hascontinued to be strong and well diversified across fixed income both in the UKand US, Asia Pacific equities, global emerging market equities, global equitiesand property. The effect of these new business flows, which came in at improvedmargins, is that net new business added in the five months to 28 Februarytotalled £3.3 billion, with a further £4.0 billion of mandates awarded but notyet funded at that date, as follows: Funded Yet to fund Total £m £m £mNet inflows to open-end funds 429 - 429Segregated account mandates 2,426 2,744 5,170Closed-end funds & other (104) - (104) ------ ----- -----Total fund management division 2,751 2,744 5,495Net inflows to property division 552 1,259 1,811 ----- ----- -----Group total 3,303 4,003 7,306 ----- ----- ----- As previously reported, the Group has increased its focus on product andmarketing development and has opened offices in Tokyo, Frankfurt and Luxembourg.We are encouraged to note that these new locations have already contributed tothe new business figures with a number of segregated mandate wins. The property division has had an equally strong five month period, whichrecently included a very successful fund raising of US$400million (£205 million)into Aberdeen's first Asian fund of property funds. The recruitment of a7-strong team will strengthen the UK business, enabling the property division tobuild on its existing product range and add further to the ability to provide afull service to segregated clients. Finally, the Group is now pleased to report the successful completion of thethird and final phase of the migration of the ex-DeAM business to our thirdparty administration provider. - END - For further informationNeil Bennett / Charlotte BarkerMaitland 0207 379 5151 ABERDEEN ASSET MANAGEMENT PLCASSETS UNDER MANAGEMENT AT 28 FEBRUARY 2007 28 Feb 07 30 Sep 06 £m £mBy type of mandate: Institutional funds 60,664 56,498Open-end funds 11,991 10,835Closed-end funds 5,343 5,392Other 412 445 ------ ------ 78,410 73,170 ------ ------By asset class: Fixed income 40,623 38,126Equities 30,955 28,456Property 6,832 6,588 ------ ------ 78,410 73,170 ------ ------ This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ADN.L