Aberdeen Asset Management was hit by net outflows of £1.5 billion from fixed income strategies in the fourth quarter of 2014, the company confirmed today.
The group – which is integrating the Scottish Widows Investment Partnership business it acquired for £550 million – said its equities business returned ‘a small net inflow’ despite higher outflows from emerging market equities in December.
While the company gave its outflows as a ‘net’ figure, it gave its inflows as a ‘gross’ number. Gross inflows for the quarter were £11.3 billion.
Assets under management fell between the end of the third and fourth quarter from £324.4 billion to £323.3 billion.
In a statement to market, Martin Gilbert, chief executive of Aberdeen said October and November had been positive in terms of equity flows.
He added: “December was a reminder that investor sentiment remains fragile. Despite this and ongoing concerns about Europe and elsewhere, Aberdeen is in good shape.
“Importantly, we have a strong balance sheet, a global client base and a wide range of capabilities to meet the needs of investors.”
The company added that the integration of the SWIP business is on track with the more complex parts of the deal to be completed by the end of this year.