LONDON, April 1 Aberdeen Asset Management
said subdued conditions in emerging markets continued to
push money out of its funds and it therefore planned to cut
Net outflows totalled 3.9 billion pounds ($6.50 billion)
across its funds in the year to end-Feb., it said in a
statement, while a further 200 million pounds had left in March.
In the first two months of the year it secured 4 billion
pounds in gross new business. Total assets under management at
end-Feb. were 186.5 billion pounds.
The company said it had identified "significant additional
cost savings" over and above those flagged as part of its
acquisition of SWIP, the fund arm of Lloyds Banking Group
, which completed on Tuesday.
Aberdeen said it remained cautious on the global market
outlook and investor sentiment but had a strong pipeline of
($1 = 0.5998 British Pounds)
(Reporting by Simon Jessop; editing by Chris Vellacott)