Aberdeen Asset Management 'neutral' on Scottish independence vote

Aberdeen Asset Management has vowed to remain “neutral” ahead of the vote on Scottish independence in September.

Martin Gilbert said “quite a lot of resentment” had been targeted at businesses groups and companies who have taken strong positions on the issues, such as the CBI.

He said Aberdeen would wait until the result is made clear before taking any decisions, but played down the likelihood of it moving its headquarters because the group already operating in 30 countries.

“One more’s not going to make any difference,” he added.

Aberdeen’s pre-tax profits fell 3 per cent to £217 million during the six months ending March as clients pulled billions from its emerging markets funds. Revenues were down 2 per cent to £503.5 million although the acquisition of Scottish Widows fund management business boosted overall assets to £324.5 billion.

“We’re long-term believers in Asia and emerging markets and the [Widows] deal is prefaced on building the other businesses rather than reducing the emerging market, Asian and global equities business,” Gilbert said.

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