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Aberdeen Asset Management pretax profit down 3 pct
May 6, 2014 / 6:27 AM / in 4 years

Aberdeen Asset Management pretax profit down 3 pct

LONDON, May 6 (Reuters) - British investment manager Aberdeen Asset Management posted a three percent fall in pretax profit in the six months to March 31, as clients pulled money out of its core emerging market and Asian equity funds.

In an earnings statement on Tuesday, the FTSE 100 company posted underlying pretax profit of 217 million pounds ($366.02 million), down from 222.8 million in the same period last year, after clients withdrew 3.9 billion pounds in January and February.

Aberdeen proposed an interim dividend of 6.75 pence per share, up from 12.5 percent on last year.

Assets under management increased by more than half to 324.5 billion pounds, boosted by the firm’s acquistition of fellow Scotland-based fund manager Scottish Widows Investment Partnership (SWIP) in March.

“The deal adds scale and strengthens further our broad range of investment capabilities and confirms Aberdeen’s position as one of the world’s leading asset management groups,” said Chief Executive Martin Gilbert. ($1 = 0.5929 British Pounds) (Reporting By Jemima Kelly; editing by Simon Jessop)

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