Monday, 29 April 2013 10:29
Aberdeen sees strong profits for first half of 2013
Aberdeen Asset Management has seen first-half profits rise 37 per cent from £162m in March 2012 to £222m this year.
In its 2013 first-half results today, the firm, a corporate member of the Institute of Financial Planning, announced revenue was up 25 per cent from £413m to £516m.
Assets under management increased from £184bn to £212bn which the firm said was due to positive markets, strong currency performance and new business flows.
It said it expected to increase assets further in the second half of 2013 due to acquisitions in February of Artio Global Investors and SVG Advisers. Artio has assets under management of £7.5bn while SVG Advisers, of which Aberdeen has a 50.1 per cent stake, had £4bn in private equity funds.
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Net inflows were £4.4bn, mainly to global emerging markets, Asia Pacific and global equities funds.
Chief executive Martin Gilbert said: "It has been a strong first half to the year with investors' appetite for risk assets returning.
"As a result we have seen healthy net new business flows, which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins. We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients' long term needs."
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In its 2013 first-half results today, the firm, a corporate member of the Institute of Financial Planning, announced revenue was up 25 per cent from £413m to £516m.
Assets under management increased from £184bn to £212bn which the firm said was due to positive markets, strong currency performance and new business flows.
It said it expected to increase assets further in the second half of 2013 due to acquisitions in February of Artio Global Investors and SVG Advisers. Artio has assets under management of £7.5bn while SVG Advisers, of which Aberdeen has a 50.1 per cent stake, had £4bn in private equity funds.
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Net inflows were £4.4bn, mainly to global emerging markets, Asia Pacific and global equities funds.
Chief executive Martin Gilbert said: "It has been a strong first half to the year with investors' appetite for risk assets returning.
"As a result we have seen healthy net new business flows, which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins. We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients' long term needs."
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