Fund firm Aberdeen Asset Management down €350m

Aberdeen Asset Management yesterday said total assets fell 3% to £302.7bn (€351m) in the first quarter of its financial year, as fresh outflows after the US election overshadowed market gains.

The investment management firm has been hit by persistent outflows from its funds on concerns about growth in emerging markets, and a fledgling recovery in sentiment in the early part of the quarter was snuffed out by the impact of the US election, it said.

“People are waiting to see what Trump does but if the economy in the US improves, the rest of the world will do well,”said chief executive Martin Gilbert.