LONDON, July 28 Emerging markets focused fund
manager Aberdeen Asset Management said assets dipped in
the June quarter, hit by a large withdrawal by one client,
although broader investor sentiment had improved.
Assets under management fell 0.6 percent quarter on quarter
to 322.5 billion pounds ($547.67 billion), it said in a
statement on Monday, after a client pulled around 4 billion
pounds from Aberdeen's funds.
Excluding the withdrawal, underlying net outflows from
global emerging market equities were 200 million pounds, it
Aberdeen said it had seen 3.3 billion pounds leave its
recently acquired SWIP business in the quarter, although
integration of the fund arm of Lloyds Banking Group,
was on schedule in terms of timing and expected cost synergies.
The company said its equity funds had delivered healthy
outperformance against their respective benchmarks during first
half of 2014, and that, with investor sentiment showing signs of
improving, it was confident of boosting revenue and profit
through organic growth.
Aberdeen said it had more than 2 billion pounds of mandates
awarded but not funded at the end of June.
($1 = 0.5889 British Pounds)
(Reporting by Simon Jessop; Editing by Nishant Kumar)