(ShareCast News) - Aberdeen Asset Management reported a slump in first-half profit on Tuesday as it took a hit from weakness in emerging markets.In the six months to the end of March, underlying pre-tax profit fell 40% to £162.9m, as net revenue declined 20% to £483.6m.Meanwhile, assets under management dropped to £292.8bn from £330.6bn the year before, and the company kept its interim dividend per share unchanged at 7.5p.Chief executive Martin Gilbert said: "These results reflect the challenging conditions Aberdeen has faced during the past three years, in particular the weakness in emerging markets. However our balance sheet strength has allowed us to continue to invest in the business, including the completion of a number of bolt-on acquisitions which have added new capabilities and new client channels."We have strengthened the management team with senior appointments in distribution and operations. Our broad product suite and global distribution platform means we are well placed to meet the long-term needs of an ever increasing number of investors around the world."On the upside, Aberdeen said its equity portfolios have performed strongly against their respective benchmarks during in first four months of 2016 as investors have begun to focus once again on companies which had previously been undervalued by the market.Still, this does not mean a dramatic improvement in new business flows is anticipated in the short term, the company said, as many potential investors may need more evidence that this rotation is firmly established before investing.