LONDON, July 25 (Reuters) - British fund manager AberdeenAsset Management posted a second quarter rise in assetsunder management (AuM) on Monday, boosted by gains in the valueof its investments and positive currency moves after Britain'svote to leave the European Union.
The firm said total assets under management in the threemonths to end-June were 301.4 billion pounds ($395.83 billion),up from 292.8 billion at the end of March.
While the firm had suffered net outflows of 8.9 billionpounds during the quarter, this was more than offset by a 9billion pound rise in the value of its assets and 8.5 billionpounds gain from positive exchange rate movements.
"The last week of June saw considerable market volatility asinvestors reacted to the result of the UK referendum on EUmembership, with initial weakness in the days after the votethen overtaken by a strong recovery which has continued intoJuly," the firm said.
"The weakening of sterling against most majorcurrencies, aided by resilient markets and good investmentperformance, has contributed to the increased value of our AuM."
($1 = 0.7614 pounds) (Reporting by Simon Jessop, editing by Sinead Cruise)