13 Jul 2016 10:53
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Don't have an account? Click here to register.Aberdeen Asset Management boosted by RBC Capital upgrade
Wed, 08th Feb 2017 09:26
(ShareCast News) - RBC Capital Markets has upgraded Aberdeen Asset Management to 'sector perform' from 'underperform' but trimmed the target price to 285p from 290p.The bank said the risk in the near term is to the upside based upon an oversold share price, a reasonable valuation, a high dividend yield, stabilising revenue margin, well controlled cost base, and the real possibility of M&A."Aberdeen's negatives are well-known by the market and more than reflected in the share price; we thus believe an upward redistribution of analyst ratings is more likely than an increase in the negative bias of the distribution."RBC said the biggest risk remains a recovery in net flows. Aberdeen has experienced around £80bn in net outflows in the last nine quarters alone, and since the beginning of full-year 2014, equity net outflows are around £50bn."Despite these staggering statistics and our forecast for elevated net outflows in FY17E, we anticipate a material recovery in flows in FY18E. Should flows not recover as we anticipate, today's upgrade could be premature."At 0935 GMT, the shares were up 3.1% to 258.60p.
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11 Jul 2016 15:46
Frozen Aberdeen property fund to offer London office to market
(ShareCast News) - Aberdeen Asset Management has reportedly appointed broker Strutt & Parker to sell a London office property, which is part of a real estate fund suspended from trading. Bloomberg cited three unnamed people "familiar with the matter" as confirming 10 Hammersmith Grove - a building w
Read more11 Jul 2016 09:41
Aberdeen UK property fund set to reopen on Monday
(ShareCast News) - Aberdeen Asset Management expected to reopen its £3.2bn UK property fund on Monday after outflows slowed and some investors opted not to sell, company chief Martin Gilbert said. In an interview with Bloomberg TV Gilbert said "Our intention is to open today as long as investors hav
Read more6 Jul 2016 20:05
UPDATE 4-Number of UK property funds suspended since Brexit vote doubles
* Henderson, Threadneedle, Canada Life funds suspended * Follow M&G, Standard Life Investments, Aviva Investors * Financial service complaints body says 'troubled' * GRAPHIC - Major UK property funds http://reut.rs/29ig4Lf (Adds temporary suspension by Aberdeen Asset Managemen
Read more22 Jun 2016 10:29
Funds hoard cash as safety blanket ahead of Brexit vote
* UK fund cash levels at 5-year high - Lipper data * Some increase cash in case investors seek to redeem * Others hoping to profit from post-vote volatility By Simon Jessop LONDON, June 22 (Reuters) - British mutual funds are showing their nervousness ahead of Thursday's v
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