Aberdeen Asset Management gets asset boost, sees outflows slow

LONDON, Sept 29 (Reuters) - Aberdeen Asset Management (Other OTC: ABDNF - news) said assets under management rose 3 percent to 331.2 billion pounds ($537.60 billion) at end-August, boosted by performance and favourable foreign exchange moves, and a slowdown in the pace of outflows.

That compared with AuM of 322.5 billion at end-June. Net outflows during the two months to Aug. 31 moderated to 1.7 billion from the 8.8 billion pound seen in the three months to end-June, it said in a statement on Monday.

Market movements added 7.9 billion pounds in assets between June and August, with foreign exchange effects adding a further 2.5 billion pounds.

Martin Gilbert, chief executive of Aberdeen, said: "Our equity capabilities are recovering, both in terms of performance and flows following a tough 2013. It's also encouraging that our marketing focus on non-equity products is gaining traction, particularly in terms of property and emerging market debt."

Emerging market debt and property products each contributed net inflows of over 1 billion pounds in the first 11 months of the financial year, it said.

The company said its integration of SWIP, the funds arm of Lloyds Banking Group, was on track and it was confident the increased scale and breadth of the group's business gave a solid foundation to weather volatile markets. ($1 = 0.6161 British Pounds) (Reporting by Simon Jessop, editing by Huw Jones)