Aberdeen suffers Asian outflows as EM sentiment sours
Fund house saw net outflows of nearly £10 billion in second quarter as institutional investors reduced their exposure to Asia and emerging market equities. Despite a declining AUM, Aberdeen's CEO remains bullish.
Aberdeen Asset Management has been suffering from large net Asian outflows amid souring investor sentiment towards emerging markets, the British fund house said yesterday.
But despite haemorrhaging nearly £10 billion ($15.6 billion) in the second quarter, Aberdeen maintained that it still had faith in its Asian and EM investments.
In a trading update yesterday Aberdeen, which prides itself on its Asia expertise, announced that global AUM had fallen in the second quarter to £307.…
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