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Aberdeen assets hit by 4.4 bln stg net outflow

Reuters - UK Focus

LONDON, Jan 16 (Reuters) - Aberdeen Asset Management (Other OTC: ABDNF - news) said clients withdrew a net 4.4 billion pounds ($7.19 billion)in the last three months of 2013 as sentiment turned against emerging market investments.

A total of 6.8 billion pounds entered its funds while 11.2 billion left, it said in a trading statement on Thursday, adding that it expected its new business pipeline to deliver an additional 2 billion pounds in assets in early 2014.

However, it expects to see further volatility in both markets and investor sentiment "in the coming months", the company said.

The company said it was making good progress towards completing its acquisition of SWIP, the fund management arm of Lloyds Banking Group.