Aberdeen Outflows Accelerate Amid China Rout; Shares Slump
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Aberdeen Asset Management Plc saw client redemptions accelerate in the three months through June as the market rout in China soured investor appetite for Asia and emerging market equities. The shares slumped.
The Scottish firm, which invests more than a quarter of its funds in developing economies, was hit by 9.9 billion pounds ($15.5 billion) of net outflows in the period, almost equal to the 11.3 billion pounds of redemptions in the previous six months.