LONDON -- Aberdeen Asset Management
The investment management group, which manages assets for institutions and private investors worldwide, seems to have impressed the market with a series of resilient statements.
During April, Aberdeen announced half-year results that showed revenues up 7% to 413 million pounds, profits up 14% to 162 million pounds, and a dividend up 16% to 4.4 pence per share. The group claimed a continued focus on organic growth and cost controls had delivered the progress.
During July, Aberdeen's third-quarter statement revealed assets under management had dropped by 1% to 183 billion pounds following "subdued conditions in the world's financial markets." However, the update revealed net new client money of 300 million pounds was received during the quarter, which would add an extra 15 million pounds a year in fees.
Then in September, Aberdeen published a pre-close trading update that showed total assets under management up by 1 billion pounds to 184 billion pounds, and new client money that would bring in a further 10 million pounds in fees.
Martin Gilbert, the group's chief executive, commented at the time:
With uncertainty surrounding the global macro-economic situation our disciplined and fundamental approach to investing continues to attract flows from a wide range of clients from around the world. Our strong performance across a variety of capabilities and products means we remain well positioned to meet the needs of investors in a constantly changing environment.
Aberdeen's annual results will be published on November 26th, which may reveal further encouraging news that can impress investors.
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Barry does not own any share mentioned in this article.
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