Aberdeen 2014 profits rise 2 pct, net outflows 20 billion pounds
LONDON, Dec 1 (Reuters) - Aberdeen Asset Management (Other OTC: ABDNF - news) said on Monday pre-tax profits rose in the financial year ending Sept 30 by 2 percent to 490 million pounds ($766 million) but net outflows totalled 20.4 billion pounds.
The UK's second-largest independent asset manager said funds under management rose by 62 percent to 324 billion pounds, helped by the acquisition this year of fund manager Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group .
But the SWIP business contributed net outflows of 4.4 billion pounds for the six-month period since completion of the acquisition and the Aberdeen Asset Management part of the business recorded net outflows of 16 billion pounds for the year.
Outflows from Asian and emerging market funds have moderated, the company said in a trading statement.
The firm said it would pay a final dividend of 11.25 pence per share, bringing its total dividend to 18 pence.
Net revenues rose 4 percent to 1.1 billion pounds. (1 US dollar = 0.6398 British pound) (Reporting by Carolyn Cohn; editing by Nishant Kumar)