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Aberdeen full-year assets hit by emerging market outflows

Reuters - UK Focus

LONDON, Nov 30 (Reuters) - British fund firm Aberdeen Asset Management on Monday posted a slide in full-year assets under management after investors pulled money out of its emerging market equity funds.

Emerging markets have been roiled this year amid fresh concerns around global growth, particularly in China, and the likely impact of rising U.S (Other OTC: UBGXF - news) . interest rates, hitting shares in Aberdeen and peers such as Ashmore.

Assets at the end of September were 283.7 billion pounds ($426.43 billion), down from 324.4 billion pounds a year earlier, Aberdeen said in a statement.

Underlying pretax profit over the period was up slightly to 491.6 million pounds from 490.3 million pounds, despite the outflows, helping fund an 8.3 percent increase in the firm's dividend to 19.5 pence a share. ($1 = 0.6653 pounds) (Reporting by Simon Jessop, editing by Sinead Cruise)