, Columnist
Aberdeen's Emerging-Market Pain
Unless emerging markets revive, Aberdeen shareholders may rue CEO's spurning of buyers
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As the market turmoil that started in China washes up in Scotland's granite city, 2016 is shaping up to be a crunch year for Aberdeen Asset Management.
Aberdeen spelled out in gory detail on Monday how its Asian and emerging markets-focused funds are hemorrhaging cash. Net outflows accelerated to almost 13 billion pounds ($19.5 billion) in the three months through September, bringing the total for the fiscal year to almost 34 billion pounds. Aberdeen said the industry is experiencing "the worst quarter for outflows from this asset class since the global financial crisis.''