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BUZZ-Aberdeen: Hits 7-mth low after hit by fresh outflows

Thu, 02nd Feb 2017 08:57

** Aberdeen Asset Management's falls 4 pct, by farand away worst performer on Stoxx 600 financial servicessubsector

** Q1 net outflows £10.5 bln, total assets under managementfall to £302.7 bln

** Further £2.4 bln scheduled to be withdrawn fromlower-margin portfolios this quarter

** AUM and flows worse than expected at low end ofconsensus, MS analysts say

** "The large Global and APAC equity strategies remain belowbenchmark on key 3 and 5 year metrics... We expect this toremain a drag on growth", they add

** Co's main divisions experienced outflows in Q1, making itdifficult to see where there could potentially be organic growthin the near term, KBW's Jonathan Richards says in a note

** Extends losing streak to 5 days

** Peers are also down: Henderson (-1 pct), ManGroup (-0.7 pct) and Schroders (-0.6 pct)

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CORRECTED-UPDATE 2-Aberdeen's profits hit by investors' flight from emerging markets

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3 May 2016 09:54

Numis cuts Aberdeen Asset Management to 'hold' from 'add'

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WINNERS & LOSERS SUMMARY: Barclays Says RSA Can Become "Best In Class"

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EMERGING MARKETS-Emerging shares at 3-wk low; factory data highlights poor growth

By Sujata Rao LONDON, May 3 (Reuters) - Emerging stocks slipped to three-week lows on Tuesday, weighed down by worries over economic growth, with shares in emerging markets-focused Aberdeen Asset Management falling almost 8 percent after poor results. Manufacturing activity across the

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BUZZ-Aberdeen: warns more EM pain to come after weak H1

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