Aberdeen clients head for exit in rocky August
LONDON, Sept canada goose black friday sale 26 (Reuters) Clients of cheap canada goose uk UK fund manager Aberdeen Asset Management pulled 800 million pounds ($1.23 billion) from its funds in canada goose coats the two months to Aug. 30, canada goose clearance sale as fears over the state canada goose uk outlet of cheap Canada Goose the global economy hit demand for fixed income and alternative products.
The exits represent the first net outflow Aberdeen has reported since the first quarter canada goose clearance of Canada Goose Coats On Sale 2011 and came buy canada goose jacket cheap as the euro zone debt crisis intensified.
With global equities plummeting the All Country World index has fallen buy canada goose jacket more than 17 percent so far this year many investors are again reviewing their canada goose appetite for risk, knocking Aberdeen assets under management by 4.8 percent since June to 176.9 billion pounds.
Clients have withdrawn a net 0.8 billion pounds from Aberdeen in canada goose uk shop the 11 months to uk canada goose outlet Aug.31 and Chief Executive Martin Canada Goose Online Gilbert said he expects markets to remain troubled for the forseeable future.
is no easy resolution canada goose coats on sale to Europe sovereign debt problems https://www.canadagoosejacketsaleca.com/ and the expectation is for anaemic economic growth in the West for some time, Canada Goose sale Gilbert said in a statement.
Reflecting nerves about the stability of many developed economies, Aberdeen said clients canada goose factory sale added 300 million pounds to its canada goose store equity fund range during the period, Canada Goose Jackets buying global emerging market and canada goose online store global equities strategies to offset weaker stock markets in Europe and the UK.
Strong demand for these Canada Goose online equity products and other higher margin pooled funds is expected to push profit for the full financial year to the top end of analysts forecast canada goose uk black friday range of 262 million pounds and 297 million pounds, Aberdeen said.
Shares in Aberdeen rose 4.1 percent to 175.4 pence at 1030 GMT, outperforming a 0.7 percent higher FTSE 250 uk canada goose mid cap index.
higher starting point for profits also helps mitigate the downward pressure on estimates which results from current equity market levels. The fall in the share price in recent weeks looks overdone, in our Canada Goose Outlet view, JP Morgan analysts said a note, retaining their recommendation.
Aberdeen said gross new business flows during the two months to Aug. 30 totalled 6.1 billion pounds, bringing the total in the canadian goose jacket 11 months to end August to 39.9 Canada Goose Parka billion, just shy of the 42.7 billion the previous year. ($1 = 0.648 British Pounds) (Reporting by Tommy Wilkes,; Editing by Sinead Cruise and Erica Billingham).
