Aberdeen Asset Management sees $15 bln in Q3 net outflows

LONDON, July 23 (Reuters) - Aberdeen Asset Management (Other OTC: ABDNF - news) saw net outflows of 9.9 billion pounds ($15.46 billion) during the quarter ending June 30 as institutional investors cut exposure to Asia and emerging markets equities, the firm said on Thursday.

The emerging markets-focused fund manager said its assets under management fell 7 percent to 307.3 billion pounds during the third quarter of its financial year, hit by market conditions and currency movements.

But the firm added that it had 4 billion pounds in new commitments and mandates awarded but not funded by the end of the quarter.

"Market and FX movements together with low margin outflows from certain fixed income and solutions clients accounted for a large proportion of the decline in AuM," chief executive Martin Gilbert said in the statement.

"Macro (Shenzhen: 000533.SZ - news) -economic factors and investor sentiment towards Asia and emerging markets continued to weigh on equity flows."

But Gilbert added that "committed investors will be rewarded over time".

Aberdeen also said on Thursday that it was appointing PricewaterhouseCoopers as its auditor, replacing KPMG.

($1 = 0.6404 pounds) (Reporting by Carolyn Cohn, editing by Sinead Cruise)