Aberdeen says clients pull £1.2 billion from its funds

Reuters

LONDON (Reuters) - Aberdeen Asset Management (LSE:ADN) said clients pulled 1.2 billion pounds from its funds in the two months to the end of August, as investors became nervous ahead of a decision about the direction of U.S. monetary policy.

The outflows, combined with negative investment performance, dragged Aberdeen's assets under management down to 201.7 billion pounds from 209.6 billion pounds at the end of June.

Aberdeen said clients withdrew money from fixed income and equity funds. The withdrawals follow 3.4 billion pounds of outflows in the three months to end-June after the big sell-off in emerging markets in May, but Aberdeen said the rate of recent client exits had fallen.

(Reporting by Tommy Wilkes; Editing by Clare Hutchison)

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