| The collapse in the price of oil has compounded the problems for Aberdeen Asset Management, with Europe’s third-largest listed fund house reporting its 10th consecutive quarter of net fund outflows. The Scottish-based asset manager, which specialises in emerging market and Asian funds, has been battling with investor nervousness over the continued turmoil in those regions, but net redemptions have been exacerbated by oil-producing countries pulling money from their wealth funds to make up for a loss of export earnings.
Aberdeen suffered net outflows of almost £13bn during the three months to the end of September, worse than analysts had expected. The company said the outflows were “compounded by a number of sovereign wealth funds reducing their market exposure in response to the low oil price”...............................................Full Article: Source
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