Aberdeen Upbeat As Sales, Fund Performance Improve
Monday, November 30, 2009 : PermalinkWSJ – Aberdeen Asset Management PLC (ADN.LN) Monday said it is winning new business and is in a good position to expand further, after reporting a sharp rise in the assets it manages to GBP146.2 billion, mainly from its acquisition of Credit Suisse AG (CS) assets and from investment gains at its stock and bond funds in the second half of its fiscal year ended Sept. 30.
The growth in assets means Aberdeen is the U.K.’s largest independent fund manager by amount of money under management, outranking competitors such as Schroders PLC (SDR.LN), which managed GBP138.9 billion at Sept. 30. Chief Executive Officer Martin Gilbert said Monday the company is keeping an eye out for further potential acquisitions in areas such as hedge funds but that nothing is imminent.