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 a trading statement today declaring that assets under management at 31 August 2014 totalled £331.2bn, a 3% increase on the total at 30 June 2014.
Net outflows have moderated to £1.7bn for the two months to 31 August; the three months to 30 June showed an outflow of £8.8bn.
Although ADN has considerable scale and breadth, management were still rightfully cautious stating: "...Being mindful of various geo-political problems around the world, we continue to be cautious on the outlook for markets..."
Despite the caution, ADN looks reasonable value for an income stock with a P/E of 13.3 on 2014 expected earnings and a yield of 4.4% on the likely total pay-out for 2014.
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