28.01.2016 - Aberdeen Sees Sovereign Assets Shrink $19 Billion in Two Years
Aberdeen Asset Management Plc has seen sovereign wealth-fund assets shrink by about 13 billion pounds ($19 billion) since a peak in 2013 as clients from oil-dependent countries cashed out and markets slumped. Chief Executive Officer Martin Gilbert said SWFís now represent about 2.5 percent, or 7 billion pounds, of Aberdeenís total assets under management. Thatís down from 10 percent two years ago. Aberdeen rose Wednesday after the company said outflows slowed in the first quarter and more cost cuts were announced...............................................Full Article: Source
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