Already a Bloomberg.com user?
Sign in with the same account.
Aberdeen Asset Management Plc (ADN), a Scottish fund manager, said funds under management rose 6 percent in the first two months of the year as clients added money to its equities funds.
Assets climbed to 184.4 billion pounds ($293 billion) as of Feb. 29 from 173.9 billion pounds at the end of December, the Aberdeen, Scotland-based firm said in a statement today. Net new business flows into equities totaled 2.5 billion pounds.
The MSCI World index has climbed 11 percent this year as Greece completed the biggest debt restructuring in history. The benchmark tumbled 7 percent last year amid concern policy makers would fail to prevent Europe’s sovereign debt crisis from spreading beyond Greece.
“Since the start of the calendar year, global markets have extended their gains and have taken on a more settled tone,” the company said in today’s statement. “Whilst we retain a degree of caution in our outlook for stock markets, we believe we remain well placed to continue our progress.”
Aberdeen climbed 4.4 percent to 260.8 pence in London trading today, for a market value of almost 3 billion pounds. The stock was the second-biggest climber in the U.K.’s benchmark FTSE 100 Index today.
The company, which manages investments for institutions and individuals, plans to report half-year results on April 30.
To contact the reporters on this story: Ambereen Choudhury in London at firstname.lastname@example.org.
To contact the editor responsible for this story: Edward Evans at email@example.com