LONDON Feb 8 Martin Gilbert, the chief
executive of blue chip British fund firm Aberdeen Asset
Management, has sold just over 4 million pounds' ($6.3
million) worth of the company's shares, following strong gains
over the past year.
Gilbert sold 1 million shares at 403.5 pence per share on
Friday, Aberdeen said in a statement. He still holds more than
5.4 million shares and has a conditional entitlement to more
than 2.3 million more, depending on performance.
The company said he sold the shares "for portfolio
Aberdeen's shares have almost doubled since the end of 2011,
boosted by strong inflows of new client money, particularly into
its Asia Pacific funds.
Last month, the firm said clients added 1.1 billion pounds
of new money to its funds in the three months to end-December,
helping lift assets to 193.4 billion pounds.
Separately on Friday the firm said it would impose a 2
percent initial charge on some of its emerging markets fund to
try and limit investor inflows.
Aberdeen's shares closed at 403.75 pence.