A global investment management group, managing assets for both institutional and retail clients from offices around the world. I have a holding in my income portfolio (epic code: ADN)
Aberdeen Asset Management issued their pre-close trading update today. Assets under management at 31 August totalled £201.7bn compared to £209.6bn at 30 June 2013. £1.2bn of the decline was due to net business outflows, £3.7bn due to market declines (mainly equities) and £3.0bn due to exchange rate movements.
Management state that due their strong cost control culture and the recent shift towards higher margins products they now expect underlying pre-tax profit for the current financial year to be towards the top end of analysts' forecasts (current range £431 million - £477 million). This should produce an EPS of approximately 30.9p and supports the expected 30%+ increase in the full year dividend.
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