Aberdeen Asset Management PLC (ABDNF) Q3 2016 Earnings Conference

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Martin Gilbert – Chief Executive

Diversification in asset and client base has been beneficial

“Overall we continue to benefit from the diversified asset and client base of the business during the period. A combination of currency changes, our exposure to a broad mix of assets and good investment performance…and our funds outweighed net outflows leaving our AUM up to £301 billion from £292 billion at March 31.”

Markets have been stable if you look beyond Europe and the Brexit

“Away from the U.K. and Europe, markets have been pretty stable. For example in quarter two, the MSCI Emerging Markets Index returned 0.8% in U.S. terms, 8% in sterling terms, and the MSCI World Index returned 1.2% in dollar terms and just about 9% in sterling terms”

Expectations: A volatile Europe as they deal with Brexit but a relient market overall

“As we go forward into the rest of the year, we expect some continuing volatility in U.K. and European equity markets as the political negotiations around Brexit proceed. However, broader market performance is likely to remain resilient given the supported monetary policy and a lower for longer environment.”

They offered liquidity at a price to those who withdrew from U.K. property fund post-Brexit.

“The interesting thing is people panic if they don’t get liquidity. By offering liquidity, I think we’ve created an enormous amount of goodwill with the holders of the fund rather than gauging the fund and I think it’s worked.”

Restoring confidence has helped stem outflows

“we’re not seeing any massive outflows. And really I think restored confidence in our fund and hopefully build goodwill for the future.”