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Scotland’s Biggest Fund Managers Boost Assets as Widows Trails

Scotland’s four largest money managers increased their assets by a combined 2.5 percent in the last three months of 2012, beating gains in global stock and bond indexes for a second successive quarter.

Led by Baillie Gifford & Co. and Aberdeen Asset Management Plc, assets rose to 587.8 billion pounds ($885 billion) at the end of the year from 573.4 billion pounds three months earlier, according to company filings and statements on their websites. That offset a decline at Scottish Widows Investment Partnership, the Edinburgh-based unit of Lloyds Banking Group Plc.