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** Further £2.4 bln scheduled to be withdrawn fromlower-margin portfolios this quarter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