Fed fears caused £1.2bn Aberdeen pullout
Tuesday 24 September 2013
Customers pulled out £1.2bn in funds from Aberdeen Asset Management ahead of the Fed’s announcement on its future monetary policy, it has emerged.
Fears that the US would bring a halt to its money printing programme helped to drag Aberdeen’s assets under management down to £201.7bn at the end of August, compared to £209.6bn two months earlier. The Fed decided not to slow the pace of its monetary stimulus last week.
Aberdeen said clients withdrew money from fixed income and equity funds. The outflows were better than the £3.4bn during the three months ending June when customers pulled out of emerging markets funds.
Boss Martin Gilbert said: “Our assets under management, balance sheet and profitability remain robust despite continuing market volatility. This is testament to the scale and diversity of the business.”
- 1 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Ball pool for adults opens in London
- 4 Game of Thrones season 5 trailer: The first full-length look is here
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Putin opponent reveals Russian President's daughter's secret identity
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...