GIL­BERT UP­BEAT DE­SPITE ABERDEEN AS­SET BLOW

The Herald Business - - The Month In Headlines -

July 29 IN­VESTORS have wiped around £300m off the stock mar­ket worth of Aberdeen As­set Man­age­ment af­ter the com­pany re­vealed clients pulled an­other £8.8 bil­lion funds out of the busi­ness in the quar­ter to June, net of new in­vest­ments, but chief ex­ec­u­tive Martin Gil­bert said it is in “re­ally good shape”. Shares in the FTSE 100 gi­ant closed down five per cent yes­ter­day on news it suf­fered a 0.6 per cent fall in funds un­der man­age­ment in the quar­ter, to £322.5bn from £324.5bn at March 31, fol­low­ing hefty with­drawals by clients.

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