mast image

Special Report

Impact investing


Aberdeen wins £7.7bn in five months

UK - Aberdeen Asset Management plc has won new business worth £ (€11.3bn) in the five months to the end of the February.

The bulk of commitments are to segregated securities mandates: £5.17bn in total, of which 45% was attracted to fixed income, 20% to Asia-Pacific and 20% to global equities, including SRI specialisms. Ten per cent is marked for global emerging market equities and other classes.

One-quarter of the new commitments are to property, notably £205m into a first Asian fund of property funds.

Aberdeen is recruiting a 7-strong team to strengthen the UK business and enable the property division to provide a full service to segregated clients.

The total new business since October represents more than 10% of assets under management. At the end of September, Aberdeen had £73.1bn under management.

By the end of February, the sum had risen to £78.4bn, due to market movements and £3.3bn of the announced new business already received. There remain £4bn of new wins committed still to be added.

On the back of this good news, Bridgewell Securities raised its September 2007 earnings-per-share estimate from 11.1p to 13.1p and its September 2008 earnings-per-share estimate from 13.2p to 14p.

In a note, Bridgewell commented: "The stock looks very attractively valued relative to the fund management sector: its calendarised 2007 price-equity ratio is line at 16.4x but this falls to 13.5x in 2008, compared with a sector unweighted average of 14.6x. We believe this anomaly, together with the clear momentum behind continued earnings upgrades, presents a strong buying opportunity."

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Here