aberdeen asset managemnt this company has fallen from 1.90 per share in may down to 1.34 now. despite having really good broker recommendations, as being a strong buy. Lets hear views and whether or not if you thing they have a good chance of recovery. I have quite a few shares and am wondering whether to stick with or move the money into something else.

I hold these some of these shares. The first time I have bought a share in this type of investment company. I bought because it gave me an exposure to oversea markets I don't know much about.

The degree of share price fall surprise me, but I think you will find that it will recover strongly "if" the Middle East settles down. The rate of growth will be rapid.

In future though I will give this type investment a wider berth and remain invested in ordinary company shares.

lets hope the problems in the middle east settle down quickly. So we can get back to normal unfortunatly I got involved in these share at the high price of 1.88. We seem to be in a falling market at the moment. All my shares are they same. They are falling every day even though, most of them have good broker recommendations.

With the gift of hindsight many wish we had sold out before the drop. The only thing is a few of my holdings have gone up and I would probably have sold those. Unfortunately, I went on holiday for a few days and lower my stop losses in general for a short while, not expecting what has happened.

Personally, I think the major drop is over and if the stocks you hold are in companies with seemingly sound fundamentals it is wiser to hold on and sweat it out.

I think if you have stocks with proven yield and increasing turnover, profit and EPS you should be OK.

I say that with crossed legs.

















I want a pee!

fred1new price seems to be on the way up again. made a mistake on friday and sold 15000 that I bought at 95p for 96p. Lost my bottle after the sharp fall. I am still holding a lot that I bought a 1.50 in may. Lets hope the increase continues. cheers.

fred made a mistake this message was for party gaming. Sorry. aberdeen have gone up slightly today. Lets hope they go up a little every day. I don!t mind the wait, if they are going in the right direction.

I would have thought by now that this company would have started to move upwards, but it seeem to be struggling. I will wait for a little while longer and it may start to happen. this one is looking like it may be a long term venture. All right if you can afford to hang on there.

does anyone know why aberdeen is shooting up this afternoon

since my last message on the 27th july aberdeen asset management have gone up quite a bit. thinking back they dropped to 1.42 and they are now up to 1.57. I have still got quite a way to go as I bought mine back at the beginning of may. I pay 1.88 per share for my shares.

Aberdeen AM trebles full-year profit
MoneyAM
Aberdeen Asset Management said its full-year underlying pretax profit more than trebled.

This reflects the successful integration of the Deutsche Asset Management businesses and the record new business that it won during the year.

For the year to September 30th, pretax profit before exceptional items and amortisation of intangibles rose to 79.0m from 24.8m in the same period last year. Turnover almost doubled to 302.1m from 156.1m a year ago.

Analysts had expected a full-year profit before charges and one-off items of 78.9m on revenue of 307m, according to a consensus forecast supplied by the company.

The company is recommending a final dividend of 2.4p, making a total payment for the year of 4.4p, an increase of 46.7% on the total payment for 2005.

With 'excellent' growth opportunities in all divisions and post-integration synergies, the investment management firm said it looks forward to the future with confidence.

You lucky people ....

" SHARE WHISPER: Aberdeen Asset Management (word that an undisclosed bidder is working on an offer at 240p a share) "
press today.

Had a great run from Aug last year. Support @ 220.0, trading statement 23rd March. Worth a punt (SB) Initial target 240.0 stop 219.0. In @ 230.4

270.0 next stop? Interims 03/05 Interim ex-divi 09/05.

Above 270.0 stop to 265.0

J P Morgan note:
"Aberdeen remains top pick.
With Q1 completed we have marked to market for market levels and fund performance at the end of the period. Compared with our last Update note (24/2/12) estimates are generally little changed for most of the stocks, and indeed the average PER multiple is also little changed. Since the start of the year we have materially increased estimates for Aberdeen, which remains our top pick in the sector, but have once again reduced our Man Group estimates.
The sector has modestly re-rated in the year to date, but at ~10x for 2013E is not expensively rated compared with history. Arguably the clouded picture for market returns and funds flow will constrain any further multiple expansion, requiring outperformance relative to the sector to come from self-help."

I like this stock Harry, stopped out last week on the spreads. Buy order (spreads) left @ 272.60 see what happens, difficult to pick a target all time highs, so if triggered will try and get stop to entry as soon as.

Probably being greedy, indicators are good not overbought on RSI, stop to 265.0 again it's a teaser :O)

Stop to 278.0 to lock in + 5

Stop to 278.0 to lock in + 5

There's a parrot in here :O)

Stop to 283.0 to lock in + 10

Back in long on the spreads @ 274.1 tight stop.

It has been emotional (as Vinny would say) can finally be confident to put stop to entry.

Cocked up the text above :O)

It has been emotional (as Vinny would say) can finally be confident to put stop to entry. 300.0 target.

Stop to 284.1 to lock in + 10

Chris, if you want to correct post 23 above, you have the "I" of "It has been...." before the chart image - just move it to after.

Cheers skinny,I'll have a go tom, bit inebriated won a golf final this aft. Hic!

Stop to 294.1 to lock in + 20. Unless volume increases dramatically can't see 300.0 being breached, overbought on RSI which isn't fatal but a warning.

Gone long on this one just now. nice chart and solid fundies....



Forward P/E of just over 12 to 2013 seems a bit stingy.

Aberdeen Asset Management PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Peel Hunt
11-09-12 BUY 334.48 20.92 10.00 383.09 23.86 11.50
Singer Capital Markets Ltd
10-09-12 BUY 334.60 21.40 10.20 384.80 24.40 11.50
Shore Capital
07-09-12 BUY 336.80 20.30 10.50 362.90 22.00 12.00
Westhouse Securities
06-09-12 BUY
Charles Stanley
03-09-12 HOLD
Numis Securities Ltd
24-08-12 BUY 335.80 21.50 11.00 387.30 24.70 14.00
SG Securities
22-08-12 BUY 21.20 10.10 24.65 11.30
Canaccord Genuity Ltd
23-07-12 BUY 332.50 20.70 10.40 367.70 22.90 11.30
Keefe Bruyette & Woods Ltd [R]
20-06-11 OUTP 19.20 7.70

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 334.90 21.02 10.36 377.65 23.79 11.94
1 Month Change 0.01 0.05 -0.04 0.51 0.24 -0.10
3 Month Change 1.23 -0.05 0.01 1.89 0.30 -0.05


GROWTH
2011 (A) 2012 (E) 2013 (E)

Norm. EPS 29.25% 41.36% 13.19%
DPS 18.75% 36.34% 15.25%

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £302.50m £342.75m £392.38m
EBIT £229.00m £336.08m £385.82m
Dividend Yield 2.58% 3.52% 4.06%
Dividend Cover 1.96x 2.03x 1.99x
PER 19.79x 14.00x 12.37x
PEG 0.68f 0.34f 0.94f
Net Asset Value PS -3.51p 106.82p 113.26p

Not speaking GF, have I upset you mate? Was only joking re - Man Utd :O)
I haven't been stopped out yet. Hope you are right, still think it needs more volume to get through 300p fingers crossed eh!

ehhhhhhhh.... no not at all chris. Been so busy with business interests hardly time to keep up with the trading. Man U ? ...... have heard Rooney might be on his way come Jan. Makes U think twice about these overpaid lot when you see the olympians.

Fingers crosses berwanke gives us a few good days ahead here.

Ok, no worries GF :O)

Looks like he has Chris. Have u seen the Dow and gold SP......nice.

Aye, crazy GF. Unless World War 3 is declared overnight I doubt volume will be a problem tomorrow should sail through 300p, problem is going to be when to take profits, hopefully nice problem :O)

Yep nicely up.

Stop to target 300.0 to lock in + 26

Nice.

Hoping for more GF, fingers crossed :O)

Buy order triggered on the spreads @ 302.1 stop 295.0

Stop to entry for risk free trade.

Stop to 312.1 to lock in + 10

Stop to 317.1 to lock in +15.

Looks good Chris.

Aye skinny, bit wary ahead of US payrolls so tightening up stops on all trades.

Stop to 322.1 to lock in + 20

Stop to 327.1 to lock in + 25

Back in long on the spreads @ 320.8

Stop to entry for risk free trade.

On a mission this morn, stop to 335.8 to lock in + 15

Back in long on the spreads (Mar Contract) @ 337.5 yesterday.

Stop to entry for risk free trade.

Stop to 347.5 to lock in + 10

Stop to 352.5 to lock in + 15

Stop to 357.5 to lock in + 20

Stop to 362.5 to lock in + 25

Stopped out at the open 360.3 +22.8

Well that's 400.0 blown away, incredible :O)

14 February 2013

ABERDEEN ASSET MANAGEMENT PLC
Acquisition of Artio Global Investors Inc.

Aberdeen Asset Management PLC ("Aberdeen") announces that it has reached an agreement to acquire 100 per cent of the share capital of Artio Global Investors Inc. ("Artio"), a publicly listed asset management holding company (the "Transaction").

The purchase consideration of approximately $175 million (£112 million) is based on a price of $2.75 per share and represents a premium of $34 million (£22 million) over Artio's unaudited net asset value at 31 December 2012. Artio is debt-free and had net asset value of $141 million (£90 million) and cash and seed investments of $136 million (£87 million) on its balance sheet at 31 December 2012. The purchase price will be payable in cash, financed out of Aberdeen's existing cash resources, on completion of the Transaction.

This acquisition will expand Aberdeen's North American business, deepen its distribution network in the region and add to its existing fixed income capabilities. The transaction is consistent with Aberdeen's stated strategy to identify suitable, quality businesses to complement the Group's organic growth.

As at 31 December 2012, Artio managed assets of approximately $14.3 billion (£9.2 billion) on behalf of a diversified retail and institutional client base. Based on Artio's fourth quarter results annual run-rate revenues were approximately $71 million (£46 million). Artio's assets under management ("AuM") include mutual fund assets of $7.2 billion (£4.6 billion). Artio comprises a $9.8 billion (£6.3 billion) fixed income business which has delivered top quartile performance across its range of strategies including highly rated Total Return Bond and Global High Yield products and a $4.5 billion (£2.9 billion) international and global equities business which will be transitioned to Aberdeen's top performing global equity process post-completion. Artio's Global High Yield and High Grade teams are expected to join Aberdeen on completion of the Transaction.

The Transaction provides key benefits to Aberdeen:

· adds significant scale to Aberdeen's existing US fixed income business and complements organic efforts to expand distribution in the US, a priority growth market for Aberdeen;

· adds established global high yield and US total return offerings to Aberdeen which will complement Aberdeen's existing fixed income expertise;

· provides access to Artio's distribution channels with a deeper penetration of the US intermediary market, particularly the broker dealer and registered investment adviser ("RIA") segments which will also be of benefit to Aberdeen's existing product range; and

· the Transaction is expected to be earnings enhancing from the outset.

The Transaction, which is currently expected to close by the end of the second quarter or early in the third quarter of 2013, is subject to customary closing conditions, including U.S. antitrust approval, approval of a majority of Artio Global shareholders and approval of certain Artio Global mutual fund shareholders. As part of the Transaction, three of Artio's largest shareholders (representing approximately 45% of the total shareholding in aggregate) have entered into Voting Agreements providing that they will vote in favour of the Transaction.





Commenting on the Transaction, Martin Gilbert, Chief Executive of Aberdeen Asset Management, said:

"This transaction is in line with Aberdeen's strategy of undertaking infill acquisitions that will assist with growing our business organically. It will be of benefit to our North American business, a region we view as a key growth market for Aberdeen. The integration of Artio's operations will strengthen further our US fixed income expertise, in particular the addition of US total return and global high yield products, and will help to broaden and deepen our distribution network in the US."

J.P. Morgan Limited (which conducts its UK Investment Banking activities as J.P. Morgan Cazenove) is acting as financial adviser and corporate broker to Aberdeen in connection with the Transaction, and Willkie Farr & Gallagher LLP is acting as Aberdeen's US legal advisor.

Long term holder of this one. Unlike so many of the stocks being followed by the 'crowd' has actually consolidated to just below 50DMA warning sign that may be a short? Uptrend still intact so worth a punt long on the spreads. Limit Buy on the spreads for Monday @ 416.00 if triggered initial target 440.0 support @ 400.0

Events :- Pre - Close Trading Update Monday 25/03. Interim Results 29/04. Ex Divi May.

Bloody typical, filled at the open @ 422.44

Stop to entry for risk free trade.

Stop to 432.44 to lock in +10

Rightly or wrongly back in long on the spreads @ 414.0 we'll see. :O)

Stop to entry

Stop to 424.0 to lock in + 10

Out for the rest of the day.

Back in long on spreads this am @ 401.8 tgt 420.0 see if it can bounce up to interim on 29th. Tight stop.

Stop to 411.8 to lock in + 10

Stop to 416.8 to lock in + 15

Stopped out. Chart looks dodgy right now, see what happens on Monday (interim).

Aberdeen Asset Management hikes dividend as profits jump
StockMarketWire.com
Aberdeen Asset Management reported revenue up 25% at £516m in the half-year to end-March. Underlying profit before tax was up 37% at £222.8m and assets under management (AuM) were up 13% since September at £212.3bn.

Underlying earnings per share rose 43% to 14.9p.

Dividend per share was raised 36% to 6p.

Operating margin was 43.8% (1H 2012: 40.1%).

Average fee margin was 49.0bps (1H 2012: 43.9bps).

Martin Gilbert, CEO, commented: 'It has been a strong first half to the year with investors' appetite for risk assets returning. As a result we have seen healthy net new business flows which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins. We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients' long term needs.'





Story provided by StockMarketWire.com

Half Yearly Report

HIGHLIGHTS

· Revenue £516.0 million (+25%)
· Underlying profit before tax £222.8 million (+37%)
· Underlying earnings per share 14.9p (+43%)
· Dividend per share 6.0p (+36%)
· Operating margin 43.8% (1H 2012: 40.1%)
· Average fee margin 49.0bps (1H 2012: 43.9bps)
· AuM £212.3 billion (+13% on 30 September 2012)

Excellant interim, shame I didn't have more faith to stay in the spreads but win win either way. Strong resistance at 440.0

440.0? not so far, fingers crossed becomes support.

Getting hammered today, bang on 50DMA, if support goes @ 440.0 back to 420.0 to close the gap?

Reckon 420.0 might be nailed on here?

Gap closed near as dam it. Bounce or 400.0? Jobs report tomorrow will probably be the catalyst. Watching.

executive director anne richards must be laughing all the way to the bank having sold 1.4m of her shares.

Blimey, she got her timing right hali, missed that.

Bank of America Merrill Lynch Underperform 422.80 422.80 475.00 410.00 Downgrades

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Bank of America Merrill Lynch Underperform 422.80 422.80 475.00 410.00 Downgrades .....

bad....bad.

Nah gf, it's only bad because appetite for risk is off the table till probably September. Had an excellant run,sold half good divi. I'm taking the summer off, golf and bowls take priority. If I was trading it probably short on the spreads to 385.0 then start building longs. Good company.

That broker Chris is the top of the pops.

20% off in 7 sessions.

FTSE down 7.2%

Id think about selling if you are in profit.

Dont get CAGED in.

Thanks for your concern gf. I wont. :O)

Chris straight up now no pith taking either of us. Are you the one whos a big Robby Burns fan?. You went on a training course.?

Just asking as my mate Anton Kriel is looking for new entrants to take the Institute Of Traders exam and weekend course before it.

If your interested let me know quick as limited and I mean very limited places left.

Wouldn't say I was a big fan, I have a lot of respect for Robbie Burns for obvious reasons.
And yes I went to one of his seminars in 2007 worth every penny imo. Thanks for the offer, know very little about Institute Of Traders, will do some research and if It helps me in future trading may give it a bash. Not right now though thanks mate, as I said, want to make the most of whatever summer we get this year.

Cheers Chris, just google it and youl get an idea.

Have a good weekend.

Aye, you to mate.

Cheers Chris.
Looking forward to the french open tennis.

Lost mate without football season.

Looks like September has come early, can't resist, left a limit buy on the spreads @ 392.0 (current price 388.0) looking for a bounce (if only dead cat) of 200 DMA if reached, tight stop if triggered.

Anticipated bounce of 200DMA, trade triggered, question now is it a dead cat?

Stop to entry for risk free trade.

Stop to 402.0 to lock in + 10. Golf and Bowls match today so away from screen.

12 Jun 2013 Aberdeen Asset... ADN Canaccord Genuity Buy 412.20 395.80 460.00 440.00 Retains

Just got home from a day of playing golf, and a bowls match this evening. I raised my stop during the morning (i - phone) to 407.0 to lock in + 15 at the time the sp was 415,0. and duly stopped out. This is precisely why I'm reluctant to trade during the summer because of the volativity which is present in the markets now due to Ben Berwankie stupid comments re- easing of quantative easing, and those slant eyed idjots pissing about. Sorry for my language, this is without doubt a day traders market and personally they are welcome to it. Looking at the futures tonight as far as ADN is concerned looking like a test of the 200DMA imminent tommorrow, but we'll see. Maybe when I'm sober in the morning (still ugly) have another lookee. Brokers who needs em? planks!

200DMA hit again, will it bounce not sure same order left @ 392.0 long.

Out again @ 395.0 + 3

200DMA still support for now, so not ready to short, but suicide to stay long overnight in this market. See what tomorrow brings, being Friday not that optimistic.

Back above 200DMA

sp taking a knock down 4% @364p

Why is it down ?
More sellers than buyers I know
But why ???

Just bought in plenty at 364.20 for a short trade

Hope you put a stop at 350p or you will sizzle!!

David - why ??????

There is resistance and I think it holds support. I think 364 is a fair entry point and if it drops and couple more points then I am in!
Tomorrow will be telling after Fed news tonight.

Bought 2000 at 363.07p!
It is a great share so can afford to wait!

Personnally I am not a Chartist - I do not know of any wealthy Chartist.

I am a Technician I guess -
It could be that assets under management have or will fall.
Could be some broker downgrade more likely
Could be some Exceptional Charge - Like interest rate problems etc
Could be some Investment Trust / Pension fund will / are selling.

I like all Fund Managers in an optimistic market as I believe they tend to rise
faster than their underlying investment products as they are geared and take performance fees etc.
However in a pessimistic market the reverse happens.

I shall probably only hold them for a day / few days - I hope
Good luck

I agree with all that! I like to buy a share with a good yield and plenty of broker support. If the worst happens then sit back and enjoy the dividend. Hopefully you make tomorrow and I shall make next week!

RBC outperform TP 495P!

Who is RBC - when was that broker report issued please ?

It from the 16th - here are the most recent :-

16 Sep 13 Aberdeen Asset... RBC Capital Markets Outperform 361.70 - - Reiterates

03 Sep 13 Aberdeen Asset... RBC Capital Markets Outperform 361.70 495.00 - Reiterates

02 Sep 13 Aberdeen Asset... Numis Buy 361.70 480.00 480.00 Reiterates

rek RBC Royal Bank of Canada founded 1901 in Halifax, Nova Scotia, Canada's largest bank.

Thank you Halifax - I thought they were out of UK.
Did not know they are American - I have learnt something today

Regards Bob - Benidorm ( Cloudy here today but still warm )

Midland bank were the biggest bank in world in the 1st part of the 20th century - it doesn't mean a lot!

Which is the biggest bank in the world now -
is it Wells Fargo or something called Commercial bank of China ?

p.s. How much do I owe you and Halifax for this trader information ?
- am I supposed to pay a subscription by standing order ?

skin but Midland was taken over by HSBC the biggest UK bank.

5 year chart solid uptrend, took a hit when Bernankie announced tapering and some concern re over exposure to emerging markets (complete bollox imvho). Had an excellant run this year and if history is repeated finishes stronger each year.

I used to work for Midland in the 1970s when all management could do was to harp back to when they were the biggest bank in the world and bemoan their then, current position - as by then they were very much an also ran and were as good as rescued by HSBC in the 1980s.

"p.s. How much do I owe you and Halifax for this trader information ?
- am I supposed to pay a subscription by standing order ?"

Forget Skinny in the south RK he's loaded -): however should you still like to donate anything to a poor man in the Frozen north (well Shropshire actually) then that would be gratefully received by yours truly -):

Oi - I don't get loaded that often these days, but I am going to a micro pub at the weekend - so you never know. :-)

Nice one, have a couple on me.. or better still RK -):

Sorry guys - looks like ADN is not recovering as fast as I thought.
looks like all the drinks will be on Stan today

Sorry RK I'm temporarily tee-total so never go near pubs... As from about 2 minutes ago that is -):

Closed at 394.5 so a good trade for me!

Closed at 393.10 on 15,000 shares - nice profit over 24 hours.

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Deltastream

If it can crack 420.0 440.0 next target?

420.0 breached, raised my stop.

Taken some profit here. 500.0 for Christmas?

Aberdeen Asset Management PLC (the "Company") notes recent press speculation and confirms that it is in discussions with Lloyds Banking Group PLC ("Lloyds") in relation to a possible acquisition of Scottish Widows Investment Partnership and the formation of a strategic partnership with Lloyds.

The potential acquisition would add further scale and diversity to the Company's product range, thus complementing organic growth, consistent with the Board's strategy.

950 By Xmas

Annual Results 25th this month.

By Ben Martin

5:46PM GMT 17 Nov 2013

Follow

CommentsComments





Aberdeen Asset Management has seen off a rival bid from Australian group Macquarie to secure the acquisition of fund manager Scottish Widows Investment Partnership from Lloyds Banking Group.


A deal for SWIP, which would see state-backed Lloyds take a stake of approximately 10pc in Aberdeen, could be announced as soon as tomorrow.


The transaction is thought to be valued in the region of £500m, based on Aberdeen’s market value at the end of last week. The FTSE 100 fund manager is understood to have been competing with Macquarie to take over SWIP.


Aberdeen confirmed last month that it had made an approach to Lloyds about buying the fund management business, and said it would pay for the deal by issuing new shares to the bank as well as performance-related deferred cash payments. The fund manager, led by chief executive Martin Gilbert, at the same time disclosed that the Lloyds talks also extended to setting up a so-called “strategic partnership” with the lender.


That relationship could see the FTSE 100 asset management firm take advantage of Lloyds’ branch network to sell its funds.



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01 May 2013

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29 Apr 2013

Still worried about your financial future? Natwest



Investors in Aberdeen have been enthused by the prospect of the SWIP acquisition, which would boost the fund management group’s assets to around £350bn and in turn make it Europe’s largest listed fund manager.

Shares in the FTSE 100 group jumped almost 6pc on the day Aberdeen confirmed it was in talks with Lloyds, but have since come under pressure on concerns that Macquarie would trump the deal with a competing cash bid.

Aberdeen has said that a deal for SWIP would be “materially earnings-per-share enhancing” and rating agency Fitch has described the potential acquisition as “transformational” for the listed Scottish fund manager.

Aberdeen has a large emerging markets business and a takeover of SWIP would boost its exposure to UK equities.

Meanwhile, the disposal would help Lloyds Banking Group to meet stricter capital requirements.

Spokesmen for Aberdeen, Lloyds and Macquarie declined to comment.














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L

Highlights
Net revenue 24% higher at £1,078.5 million (2012: £869.2 million)
Underlying profit before tax increased by 39% to £482.7 million (2012: £347.8 million)
44% increase in underlying diluted earnings per share to 32.5p (2012: 22.6p)
Final dividend of 10.0p per share (2012: 7.1p), making 16.0p for the full year (2012: 11.5p)
Net cash increased by 60% to £426.6 million (2012: £266.4 million)
Assets under management increased by 7% to £200.4 billion (2012: £187.2 billion

To view the announcement in full please visit:

http://www.aberdeen-asset.com/aam.nsf/mediacentre/rnsannouncements

Logo
Acquisition

Released : 18 Nov 2013

RNS Number : 2476T
Aberdeen Asset Management PLC
18 November 2013



ABERDEEN ASSET MANAGEMENT PLC
Acquisition and Strategic Relationship with Lloyds Banking Group

The Transaction
Aberdeen Asset Management PLC ("Aberdeen" or the "Group") announces that it has entered into a definitive agreement to form a long-term strategic relationship with Lloyds Banking Group plc ("Lloyds"), as part of which Aberdeen will acquire Scottish Widows Investment Partnership Group Limited ("SWIP") and SWIP's related private equity and infrastructure fund management businesses ("the Acquired Business") ("the Acquisition" and, together with the long-term strategic relationship with Lloyds, the "Transaction"). The Transaction is subject to certain regulatory approvals. The Acquired Business includes the Investment Solutions division of SWIP which is a separate investment group that is responsible for the design, development and management of investment solutions for Lloyds' wealth clients. The strategic relationship will operate across Lloyds' Wealth, Insurance, Commercial Banking and Retail businesses and is expected to result in a stronger asset management offering for customers.

The consideration for the Acquisition of approximately £550 million (calculated by reference to an Aberdeen share price of 420 pence per share) will be satisfied by the issue of 131.8 million new Aberdeen shares to Lloyds, equivalent to an approximately 9.9% stake in the Group following completion of the Acquisition (referred to as the "Enlarged Group"). In addition, there will be a performance-related five year earn-out payment of up to £100 million dependent on growth delivered by the strategic relationship with Lloyds in the Investment Solutions business. The Acquired Business will add approximately £136 billion of assets under management ("AuM") with annualised revenues of approximately £234 million to the Group.

Transaction Highlights

Diversified business profile
· Combination with SWIP improves the Group's balance of AuM and revenue across asset classes
· Provides new investment capabilities for Aberdeen's global distribution team

Long-term strategic relationship with Lloyds
· Formation of a comprehensive strategic relationship across Lloyds Wealth, Insurance, Commercial Bank and Retail businesses
· Exclusive long-term relationship with Lloyds Wealth through Investment Solutions
· Long-term contract to manage Lloyds Insurance funds
· Introducer agreement with Lloyds Commercial Bank and distribution opportunities with Lloyds Retail business

Scale and financial strength
· Acquisition adds breadth and depth to Aberdeen's existing product offering and enhances the Group's position as a leading independent global asset manager
· Acquisition elevates Aberdeen to a top five position (by AuM) in the UK retail market, an area of strategic focus

Complementary product capabilities
· The combination of Aberdeen and SWIP's strengths are expected to result in a stronger asset management offering for customers
· SWIP strengthens Aberdeen's existing offering in fixed income and property
· Acquisition of Investment Solutions transforms Aberdeen's ability to offer fiduciary management and strengthens asset allocation, multi-asset and multi-manager capabilities

Value creation
· Acquisition expected to be materially enhancing to underlying earnings per share in first full financial year following completion
· Acquired business anticipated to run at a marginal operating margin of 55%
· Reinforces the Aberdeen Board's commitment to a progressive dividend policy and the ability to return surplus capital over time

Commenting on the Transaction, Martin Gilbert, Chief Executive of Aberdeen Asset Management said:
"This transaction is significant for the long-term prospects of Aberdeen in a number of ways. It strengthens our investment capabilities and adds new distribution channels; the acquisition of SWIP adds scale to our business across a range of asset classes; and it also introduces a strategic relationship with Lloyds Banking Group. We are confident that this transaction will deliver considerable additional value to our expanded client base and this will therefore benefit our shareholders. I am delighted to welcome Lloyds as a major shareholder in the Aberdeen group and we look forward to working with them to deliver value through this new strategic relationship."

Martin Gilbert and António Horta-Osório, Group Chief Executive, Lloyds Banking Group, will host a presentation and webcast for analysts and institutions at 1030 GMT today at Deutsche Bank, 1 Great Winchester Street, London, EC2N 2DB.

The webcast can be viewed live on: http://www.media-server.com/m/p/3kiz2imk

For those unable to attend the presentation or view the live webcast, a replay of the event will be available on the Group's website at www.aberdeen-asset.com.

Acquisition structure
The consideration will be satisfied by the issue to Lloyds of 131.8 million new ordinary shares in Aberdeen which is equivalent to 9.9% of the Enlarged Group's share capital, valued at approximately £550 million at completion of the Transaction, calculated by reference to an Aberdeen share price of 420 pence per share (the "Reference Share Price").

Should the Aberdeen volume weighted average price during the five trading days prior to completion of the Acquisition (the "Completion VWAP") be below the Reference Share Price, a "Deferred Top-Up" will be payable to Lloyds. The Deferred Top-Up will be determined by multiplying the number of new shares by the difference between the Reference Share Price and the Completion VWAP, although the Completion VWAP shall never be less than 320 pence for the purpose of this calculation. Lloyds will have the right to terminate the Acquisition if the Completion VWAP is below 320p. The Deferred Top-Up will be payable either in cash or through the issue of additional new shares (at Aberdeen's option) at the end of a 12-month period following completion of the Acquisition. Aberdeen has entered into a partial hedge against stock market movements.

Additionally, there will be a performance related earn-out of up to £100 million payable in cash over a five year period following completion of the Acquisition. The earn-out will be dependent on the growth in the business delivered through the strategic relationship with Lloyds in the Investment Solutions business.

Lloyds has agreed to retain its entire shareholding for a minimum of twelve months from the date of allotment; to retain two thirds of its holding for at least two years; and to retain one third of its holding for at least three years. Further details of the lock-up arrangement are set out at the end of this announcement.

The Acquisition is expected to complete by the end of the first quarter of 2014.

The Acquisition is conditional upon the approval of the Financial Conduct Authority and admission of the new shares to listing on the Financial Conduct Authority's Official List and to trading on the London Stock Exchange's main market for listed securities.

The acquisition of SWIP's related private equity and infrastructure fund management businesses require certain consents and regulatory approvals. Completion of the acquisition of SWIP is not conditional on completion of either of these acquisitions. The consideration of approximately £550 million payable by Aberdeen will be reduced if either the private equity or infrastructure business do not transfer.




Information on the Acquired Business
The Acquired Business, which comprises AuM of approximately £136 billion and annualised revenue of approximately £234 million, is a traditional asset manager with investment capabilities covering a broad range of asset classes, namely fixed income including liquidity solutions; equities including quantitative and active; and alternatives including property, private equity and infrastructure.

The Acquired Business includes the Investment Solutions division of SWIP which is a separate investment group that provides advice in relation to approximately £15 billion of Lloyds' Wealth clients' discretionary assets (as at 31 August) and is responsible for the design, development and management of investment solutions for Lloyds Wealth. Investment Solutions is responsible for the creation and on-going manufacturing of investment content to meet client proposition requirements for Lloyds Wealth on a multi-asset and multi-manager basis. As at 31 August 2013 Investment Solutions had annualised revenues of £17 million2.

The Acquired Business is debt-free and will have net assets of £60 million at completion of the Acquisition including SWIP's related private equity and infrastructure fund management businesses.

AuM and revenue by channel (31 August 2013):

AuM (£bn)1
Revenues (£m)1
Lloyds Insurance
98
1342
Lloyds Wealth
6
14
Institutional
16
41
Liquidity Solutions
8
11
Wholesale
2
16
Other income

2
Total SWIP
130
217
Investment Solutions
6
172
Total
136
234
1 AuM as at 31 August 2013; annualised revenue based on eight-month revenue to August 2013
2 Annualised revenue of £17 million based on existing rate card; under a new agreed rate card revenues would be approximately £29 million. This revenue includes advisory fees generated on approximately £15 billion of Lloyds Wealth clients' discretionary assets. Revenue from Lloyds Insurance would however reduce by a broadly similar amount under a new rate card

Well done here Chris.

Cheers skinny.

Powered by IST's

I like history and as can be seen by chart above the last three years ADN has had a good start to the year. 500p is an obvious target, if it breaks that who knows?

Tempted to get back in on the spreads, watching.

Powered by IST's
Deltastream

Interim due 16th January, final divi payment 24th. Looking for a bounce long on the spreads @ 443.7 tight stop.

chris

Am playing chess now at 1 day per move max , but if last nite the fellow i was playing was online so we moved faster.

I forgot your user name Kit .......... , My name is parnaso1944

alders - Kit3273845 Cheers.

Stop to entry for risk free trade.

Anyone ever looked at Lion Asset Trust Management (LIO) ?

Lovely chart.

Dil - I do have some of these :- Liontrust Special Situations Class R Income Units

Nice one skinny , I've got the smaller uk companies one I think along with aberdeen asset's smaller company funds.

Liontrust were near the top performers in every sector last year I think.

A 'familiar chart' Dil :-)

Yep just checked and here's Aberdeen UK Smaller Companies

All boringly similar!

What do you reckon on this year skinny , more of the same ?

If the last 5 years are anything to go by - its nice not to have to worry too much about some investments.

Took my eye off things last six months or so and just let my funds chug along by themselves but I think I missed out on the big gains in Japan.

Goldman Sachs lifts ADN to buy from neutral, target raised from 465 to 600p.

ABERDEEN ASSET MANAGEMENT PLC
INTERIM MANAGEMENT STATEMENT - 3 MONTHS TO 31 DECEMBER 2013

Highlights
· Assets under management £193.6 billion (30 September 2013: £200.4 billion)
· Gross inflows in the quarter of £6.8 billion (3 months to 30 September 2013: £9.6 billion) in the face of weaker investor sentiment
· Reduced outflows of £11.2 billion (3 months to 30 September 2013: £13.2 billion) resulting in net outflows of £4.4 billion (30 September 2013: net outflows of £3.6 billion)
· Continued improvement in blended fee rate: 51.3 basis points (year to 30 September 2013: 50.0 basis points)
· Encouraging flows into emerging market bonds, high yield and property strategies
· Some £2 billion of unfunded new business build up across equities, fixed income and property products

Martin Gilbert, Chief Executive of Aberdeen, commented:

"Business flows reflected the continuing negative sentiment towards Asian and emerging markets generally, particularly later in the quarter. However, we believe the fundamental attractions of the Asian and developing economies and companies that we invest in are compelling. We remain committed to our rigorous investment process and are confident that we will sustain our record of long term outperformance.

"From a business perspective, it is pleasing to note that the blended average fee rate has continued to increase. However, given the environment we are closely managing costs. We have a strong new business pipeline which is expected to deliver around an additional £2 billion in AuM in early 2014 across a range of asset classes and geographies. We are also making good progress towards completing our acquisition of SWIP, which will significantly expand and diversify our base of assets under management."

Assets under management
Assets under management ("AuM") of £193.6 billion at 31 December 2013 were 3% lower than at 30 September 2013. The principal changes in AuM during the quarter are shown in the following table.



Equities
£bn
Fixed income
£bn
Aberdeen solutions
£bn

Property
£bn
Money market
£bn

Total
£bn
AuM at 30 September 2013
113.8
36.8
28.8
15.0
6.0
200.4
Net new business flows for the quarter
(3.1)
(0.6)
(0.7)
0.5
(0.5)
(4.4)
Market appreciation & performance
0.8
0.2
0.5
(0.1)
-
1.4
FX movements
(2.6)
(0.9)
(0.1)
(0.1)
(0.1)
(3.8)
AuM at 31 December 2013
108.9
35.5
28.5
15.3
5.4
193.6

Business flows
Weaker sentiment, particularly towards emerging markets, continued to weigh on investors' minds during the quarter. We saw this reflected in reduced gross new business wins for the quarter of £6.8 billion (quarter to 30 September 2013: £9.6 billion). The slowdown in inflows was felt mainly in equities.

The blended average fee rate earned on AuM has continued to improve, to 51.3 basis points (year to 30 September 2013: 50.0 basis points) as new business inflows are being won at reasonably healthy fee rates. However, given that we expect market conditions to remain difficult, we are also acting to reduce discretionary operating costs.

Despite the difficult market conditions during the quarter, we built a good new business pipeline of approximately £2 billion which will be invested in the coming months across a range of capabilities including emerging markets (bonds and equities), Japanese equities, money markets and Nordic property.

Outflows for the quarter reduced to £11.2 billion (quarter to 30 September 2013: £13.2 billion), resulting in net outflows for the quarter of £4.4 billion (30 September 2013: net outflows of £3.6 billion).

Outflows from global equities were largely the result of strategic asset allocation changes made by two segregated clients, whilst flows out of our fixed income and solutions businesses were mainly redemptions from lower margin products.

Encouragingly we recorded net inflows into emerging markets bonds, high yield and property; three capabilities which are key elements of our global distribution strategy.

An analysis of the new business figures for the quarter to 31 December 2013 is provided at the end of this statement.

Investment performance
Our equity process is focused on investing for the long term and our long term performance is compelling. However, there will be circumstances which will result in periods of shorter term underperformance. During 2013 we saw lower quality, more cyclical companies - which are not typical Aberdeen holdings - rally over the year. Our Asian, emerging market and global portfolios were also overweight markets where there was considerable currency weakness.

In our experience it has never ultimately been rewarding to chase performance, instead our focus remains on undertaking our own detailed research and investing in companies we believe offer both good quality and attractive valuations. Eventually the market will return to focusing on corporate fundamentals - the higher quality companies. In short we do not expect to make any significant changes to the structure of our portfolios.
Most of our main fixed income strategies are ahead of their benchmarks over one, three and five years.

Outlook
We believe that further volatility in markets and investor sentiment is likely in the coming months, but we will not be deflected from our focus on adding value for our clients and shareholders through our focus on our long term investment philosophy. Our application for regulatory approval for our strategic relationship with Lloyds Banking Group, including the acquisition of Scottish Widows Investment Partnership, continues to progress and we look forward to the opportunity to begin the integration of this transaction.
For further information please contact:
Aberdeen Asset Management PLC + 44 (0) 20 7463 6000
Martin Gilbert
Bill Rattray
Maitland + 44 (0) 20 7379 5151
Neil Bennett
Tom Eckersley

Management will host a conference call for analysts and institutions at 07:45 GMT today.

Been hammered due to emerging markets scenario. Bang on 200DMA, watching to see if it holds.

ADN looks oversold. 3.7% yield currently... Maybe a little more downside yet..

Aye watching Shortie :O)

200DMA banjaxed if support @ 400p fails then 380p next stop.

Chris, I take you saw this earlier :-

Morgan Stanley Underweight 402.10 421.40 492.00 393.00 Downgrades

No I missed that skinny, thanks. Markets spooked I'm just sitting on sidelines at mo watching.

As am I, 380 - 385 should find support I think... on a projected 16p yield this is 4.17%
BUT
Argentina's currency plunged as its central bank abandoned its policy of supporting the peso by intervening in the foreign exchange markets. Other Latin American currencies also came under pressure. Bad news for Emerging Markets and a driving force. With Morgan Stanleys downgrade also other brokers are likely to follow.. Where's the bottom??

340 ish I'm guessing Shortie worst case scenario.

Fund manager Aberdeen was a heavy faller on the FTSE 100 on Friday after a ratings downgrade by Morgan Stanley from 'equal weight' to 'underweight'.

The bank said that a "deteriorating" fund performance at Aberdeen compounds challenging fundamentals in the emerging markets (EM). This "increases the risk of negative revisions and further multiple de-rating" for the stock, it said.

Been out all morning but above timed at 12.22. Just for info chaps.

http://www.bbc.co.uk/news/business-25877391

Espirito Santo (who?) reiterates buy, target cut from 573p to 514p.

Scalped a few points long on the rise, back above 400.0, watching and waiting before taking a punt for 200DMA to be breached.

Chart looking good to close gap @ 420p

Febuary 6 2014 1.04pm The Wall Street Journal. In Defense Of Aberdeen.


By Sarah Krouse

Aberdeen Asset Management has come under pressure this year as investors shed their exposure to emerging markets.

But analysts at RBC Capital Markets said investors shouldn't give up on the fund manager yet.

After a nearly 20% drop in the company's share price this year, compared to a roughly 4% drop in the broader FTSE 100 index, RBC analysts said in a note Thursday that the stock's current price takes into account "overly bearish assumptions" about the company's performance.

One thing RBC analysts believe Aberdeen has working in its favour is its acquisition of Scottish Widows Investment Partners from Lloyds Banking Group. The deal announced in November will help Aberdeen diversify away from its heavy exposure to emerging markets and Asia Pacific equities. That exposure, the analysts say, will drop to 24% from 40% when the deal is complete.

The share price is also being hit by short sellers rather than long - term owners exiting their holdings, they said.

The analysts added the firm has a strong balance sheet and the highest upside potential of any fund manager they cover, but did anticipate net outflows and "slipping investment performance."

"Today is not the time to abandon Aberdeen, as value, yield, buybacks and a transformational acquisition are either present or pending," they wrote.

Earlier this week Aberdeen published a note in defense of emerging markets.

"Emerging markets have a history of scares and what follows the latest bout of uncertainty will merely be a natural and healthy adjustment. Policymakers and company management are more than equipped to deal with cyclical change they have been here before." Nothing to see hear folks.

Still, the fund manager called 2013 a year to forget for developing markets because of the impact of U.S. monetry policy. It pointed to a difference of 29% in the performance of the MSCI World Index versus the less impressive MSCI Emerging Markets Index last year.

This stock is probably a screaming buy now, just a wee bit more downside to go I reckon. Timing as ever.

Long on the spreads @ 368.0

Their owns funds not doing especially well just now I think ?
Perhaps we need to wait and see how Scottish Widows will be absorbed ?
Seems their may still be turmoil in emerging markets ?
Probably a share to watch and buy on a bad day ?
Do you agree Chris ?

I do agree rekirham, that's why i have started buying on the dips.

Stop to entry for risk free trade.

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Looking for a close above 380.0 with volume to progress.

Whats this crap below the chart??.........Shu Uemura art of Hair Shape......ohhhhhh ducky.

Fuck off Yorkshire Txat, stick to your left wing shite. Some of us are trying to make money here. Fat finger ok, sorry I'm not perfect like you. :O)

Logo
Regulatory Approval

Released : 20 Mar 2014

RNS Number : 8230C
Aberdeen Asset Management PLC
20 March 2014



20 March 2014

ABERDEEN RECEIVES REGULATORY APPROVAL FOR ACQUISITION OF SCOTTISH WIDOWS INVESTMENT PARTNERSHIP

Further to the announcement by Aberdeen Asset Management PLC ("Aberdeen" or "Company") on 18 November 2013 relating to the acquisition of Scottish Widows Investment Partnership Group Limited ("SWIP"), Aberdeen is pleased to announce that the Financial Conduct Authority has today confirmed its consent to the proposed change of control. As a result, the acquisition is expected to complete following close of business on 31 March 2014. The Company expects to issue a statement on 1 April 2014 to confirm that completion has taken place and to issue a trading update on the same day.

Martin Gilbert, chief executive of Aberdeen Asset Management, comments:
"I am delighted that we have obtained regulatory approval for the acquisition of SWIP. We will continue to work closely with SWIP and Lloyds Banking Group to ensure a smooth completion process. The way we have already worked together to develop a structured integration plan is very encouraging and means that the migration process will begin very shortly after completion. This co-operation confirms my belief that the combination of the two businesses and our strategic relationship with Lloyds will be of great long-term benefit to our shareholders and clients, whom I would like to thank for their continued support throughout this process. Everyone at Aberdeen is looking forward to working with our new colleagues from SWIP.

"The deal combines and broadens the investment capabilities of both businesses. The combined business will have a far stronger and more diverse range of investment management skills as well as significant scale across asset classes and geographies, which will enable us to deliver an even better service for our enlarged client base. This includes investors who will benefit from yesterday's Budget announcement giving them more freedom to invest their pension pots when they retire."


For further information, please contact:

Contacts:
Aberdeen Asset Management PLC + 44 (0) 20 7463 6000
Martin Gilbert
Bill Rattray


Maitland + 44 (0) 20 7379 5151
Neil Bennett

Try again, long @ 369.0 (SB) tight stop.

Stop to entry for risk free trade (again). May well regret not trading this, second occasion could have had an easy 10 pips. Official announcement re SWIPS and trading statement 1st April.

edit 31st March.

Citigroup new target 390.0.

Stop to 379.0 to lock in + 10

Stop to 384.0 to lock in + 15

Credit Suisse new target 415.0

Stop to 389.0 to lock in + 20

Slowly slowly :-)

You in skinners?

No - if I was I'd probably be the hare!!

Ahh, I need a new set of golf clubs :O)

JP Morgan overweight new target 509.0

Credit Suisse sees "tough start" for Aberdeen
27 March 2014 11:31

Credit Suisse expects a "tough start to the year" for asset manager Aberdeen and has reduced its target price for the stock from 470p to 415p, keeping a 'neutral' rating.

The bank admitted that the shares - trading at 11 times earnings for the 2015 calendar year - are "not expensive" but sees a lack of catalysts for the share price in the near term.

Credit Suisse said that at Aberdeen's listed UK and offshore funds, which capture around 21% of its assets under management, there have been net outflows of around £2.9bn during January and February alone, which compares to net outflows of £2.3bn across the fourth quarter of 2013.

Key listed funds including GEM equities, Asia Pacific equities and Global equities all continued to experience net outflows during the first two months of the year, according to Morningstar.

"Whilst we have less visibility on institutional mandates and the funding of the pipeline, we expect a relatively cautious start to 2014 which is unlikely to have been helped by continued subdued sentiment towards emerging markets."

The stock was up 0.3% at 388.3p by 11:42.

BC

And,your point?

They have been downgraded by J P Morgan your post up above 193

LATEST BROKER VIEWS

Date Broker New target Recomm.
28 Mar JP Morgan... 509.00 Overweight
27 Mar Credit Suisse 415.00 Neutral
26 Mar Citigroup 390.00 Neutral
24 Mar RBC Capital... N/A Outperform
19 Mar RBC Capital... N/A Outperform
10 Mar Goldman Sachs 540.00 Buy
17 Feb Goldman Sachs 540.00 Buy
13 Feb Jefferies... 350.00 Underperform
6 Feb RBC Capital... 485.00 Outperform
6 Feb Numis 425.00 Hold
Broker Recommendations for Aberdeen Asset Management

GF - As posted on your chart thread, I use them but never rely on them :O)

Downgraded by J P Morgan.......

SP target was .........529p.........NOW 509p.

28 Mar 2014 Aberdeen Asset... ADN JP Morgan Cazenove Overweight 398.55 396.90 529.00 509.00 Retains

Good job you don't listen to brokers recs then!

Again AND, what's your point? Can't see it but 509.0 unless I'm looking at the chart upside down is a dam sight better than current SP.

Ohhh I do and I use them.

Chris 2 downgrades in 1 day.

The brokers are pointing out they have lowered their expectations.

Its like your mate Smirkey Burns telling you that hes lowered his SP target on one of HIS TIPS (when is a tip not a tip?, when Robbie Burns tips it.......get it LOL)

Grow up GF.

That from a bloke who goes on the talk thread and posts childish remarks about football.
ohhhhhh dear.

Charles Stanley says.........

Aberdeen Asset Management (ADN: 396p) bucked the trend in the broader market and
posted a gain of 2.2% (in decent trade), which means that it has now risen by 9.3% this week
alone. Investors appear to be making the assumption that the company’s emerging-market
woes are already over but this looks like it might be a little bit premature. Selling into strength
might not be a bad idea here.

He may well be right GF :O) I'm trading this stock not marrying it. If I get stopped out today I have made a profit. Let's see what happens when the company issues a trading statement on Monday. I attempt to trade the chart not interested in being in your gang. I'll decide.

My Gang LOL who are you trying to kid.

Im a solo player a contrarian and always have been.

I dont seek to court pals and followers like cynic etc etc.

If I pick a few freinds up on the way thats fine but I certainly dont go out of my way to win freinds and never have.

Thought youd know that by now.

Actualy weighing this one up I might have a few bob long.

Have been in before a few times and they havent let me down.

Still waiting for trading statement. Out the spreads @ 394 + 25
Have left a Limit Buy @ 402.0 more in hope than expectation.

1 April 2014

ABERDEEN ASSET MANAGEMENT PLC
COMPLETION OF THE ACQUISITION OF SCOTTISH WIDOWS INVESTMENT PARTNERSHIP

· Acquisition of SWIP and its related private equity business completed as planned
· Completion of the infrastructure business acquisition expected in the next few weeks
· Combined Group will have pro-forma assets under management of £324.5 billion as at 28 February 2014
· Total consideration for the Acquisition of approximately £550 million
o Consideration to be satisfied by the issue of 125.85 million shares to Lloyds Banking Group plus a deferred top-up payment of £39.4 million payable at the end of a 12-month period following completion
o A further 5.95 million shares will be issued on completion of the infrastructure element
· Acquisition expected to be materially enhancing to underlying earnings per share in first full financial year following completion

Aberdeen Asset Management PLC ("Aberdeen" or the "Company") is pleased to announce that it has completed the acquisition, which was announced on 18 November 2013, of Scottish Widows Investment Partnership Group Limited ("SWIP") and SWIP's related private equity fund management business from Lloyds Banking Group plc ("Lloyds"), following the receipt of all relevant regulatory approvals. The purchase of SWIP's infrastructure fund management business is expected to complete within the next few weeks.

In addition, Aberdeen has entered into a long-term strategic relationship with Lloyds. This strategic relationship will operate across Lloyds' Wealth, Insurance, Commercial Banking and Retail businesses and is expected to result in a stronger asset management offering for customers.

The consideration for SWIP and the related private equity business will be satisfied by the issue of 125,848,000 new ordinary shares to Lloyds, of which 108,537,009 shares have been issued today and the remaining 17,310,991 shares will be issued on the earlier of (i) the first anniversary of completion and (ii) receipt by Lloyds of certain regulatory approvals and consents. On completion of the acquisition of SWIP's infrastructure fund management business, a further 5,952,000 new ordinary shares will be issued to Lloyds, and the total number of shares issued as consideration will represent approximately 9.9% of the enlarged Aberdeen Group's issued ordinary share capital.

In accordance with the Sale and Purchase Agreement, a deferred top-up payment of £39.4 million will be payable to Lloyds at the end of the 12 month period following completion. This payment is based on the difference between Aberdeen's volume weighted average price for the five business days ending on 31 March 2014 and the reference price of 420 pence per share and Aberdeen is entitled, at its sole option, to make this payment either in cash or by the issue of additional new ordinary shares to Lloyds. The total consideration for the Acquisition including the shares still to be issued on completion of the infrastructure element and the deferred top-up payment, will be approximately £550 million.

As at 28 February 2014, SWIP and its related private equity and infrastructure businesses had total assets under management ("AuM") of £138.0 billion. The enlarged Aberdeen Group will have pro-forma AuM, following completion of the infrastructure element of the transaction, of £324.5 billion, making Aberdeen the leading European independent asset management group, ranked by AuM. The composition of the enlarged Group's AuM is summarised at the end of the statement.

Considerable planning work has been undertaken jointly by the management teams of both Aberdeen and SWIP since the announcement of the transaction. The integration process will commence from completion and involve the transition of the assets of SWIP onto the enlarged Group's platform in a controlled manner over the next 24 months. The acquisition will expand Aberdeen's asset management operations in Edinburgh substantially.

The acquisition is expected to be materially enhancing to underlying earnings per share in the first full financial year following completion.

Commenting on the successful completion of the transaction, Martin Gilbert, Chief Executive of Aberdeen, said:

"We are pleased to have completed this important acquisition as planned and on schedule, so that we can now commence the task of integrating SWIP into the enlarged Aberdeen Asset Management Group. We will immediately begin a structured migration of funds and platforms, whilst continuing to deliver an excellent investment performance for both existing and new clients.

"The enlarged group is well placed to meet the needs of a diverse range of investors with a broad range of capabilities across both geographies and asset classes.

"We look forward to developing our new strategic relationship with Lloyds and, on behalf of everyone at Aberdeen, I would like to welcome our new colleagues from SWIP into the Group."

Combined AuM at 28 February 2014


Aberdeen (£bn)
SWIP (£bn)
Combined (£bn)
Active equities
101.9
3.6
105.5
Fixed income
35.5
39.0
74.5
Quantitative equities
-
55.7
55.7
Investmentsolutions
28.1
13.21
41.3
Property
15.7
8.3
24.0
Money market
5.3
18.2
23.5
Total
186.5
138.0
324.5

1 Includes private equity and infrastructure AuM

For further information, please contact:

Contacts:
Aberdeen Asset Management PLC + 44 (0) 20 7463 6000
Martin Gilbert
Bill Rattray


Maitland + 44 (0) 20 7379 5151
Neil Bennett
Tom Eckersley


This information is provided by RNS
The company news service from the London Stock Exchange

END

Aberdeen AuM down

StockMarketWire.com

Aberdeen Asset Management's assets under management fell to £186.5bn at the end of February- down from £193.6bn at the end of December due to continuing weakness in emerging markets.

The group repots gross new business of £4.0bn in the two month period and net outflows of £3.9bn spread across asset classes and estimated net outflows of £0.2bn in March.

The group said a strong pipeline of business was awarded but not funded at 28 February across investment divisions, of which £1.2bn had been received as inflows during March.

Chief executive Martin Gilbert said: "Encouraging inflows to emerging market debt, high yield bonds and property have partly offset net outflows from our Asian and emerging market equity products, and we have seen further growth in the pipeline of new business awarded but not funded at the end of February.

"Conditions in emerging markets remain subdued, and we have therefore identified and are implementing some cost savings, over and above the synergies we expect from the SWIP transaction. However, we will not change our long-term approach to investment which has delivered excellent returns to our clients over time and we look forward to building on the additional scale and product diversity that the acquisition of SWIP brings."



At 8:25am: (LON:ADN) Aberdeen Asset Management PLC share price was +5.5p at 395.8p


Story provided by StockMarketWire.com

Trade triggered @ 402.0 tight stop.

Stop to to 412.0 to lock in + 10

At this rate I will be in and out all day :O)

I remember those days! :-)

LATEST BROKER VIEWS

Date Broker New target Recomm.
1 Apr Canaccord... 460.00 Buy
1 Apr Espirito... 514.00 Buy
28 Mar JP Morgan... 509.00 Overweight
27 Mar Credit Suisse 415.00 Neutral
26 Mar Citigroup 390.00 Neutral
24 Mar RBC Capital... N/A Outperform
19 Mar RBC Capital... N/A Outperform
10 Mar Goldman Sachs 540.00 Buy
17 Feb Goldman Sachs 540.00 Buy
13 Feb Jefferies... 350.00 Underperform
Broker Recommendations for Aberdeen Asset Management

And the beat goes on. Good job i didn't rely on Citigroup or Credit Suisse eh GF.

LATEST BROKER VIEWS

Date Broker New target Recomm.
3 Apr Numis 450.00 Hold
2 Apr Numis 425.00 Hold
2 Apr Barclays... 535.00 Overweight
2 Apr Jefferies... 350.00 Underperform
1 Apr Canaccord... 460.00 Buy
1 Apr Espirito... 514.00 Buy
28 Mar JP Morgan... 509.00 Overweight
27 Mar Credit Suisse 415.00 Neutral
26 Mar Citigroup 390.00 Neutral
24 Mar RBC Capital... N/A Outperform
Broker Recommendations for Aberdeen Asset Management

Credit Suisse Neutral 436.95 441.60 415.00 440.00 Reiterates

Not to concerned yet skinny, so far today light volume. 440.0 resistance, outside bollinger band, lower indicators approaching over bought, so what. Raised my stop to 329.0 to lock in another + 27.

Still light volume, but attempting to breach 440.0 on two down days.

RPT-Fitch upgrades Aberdeen Asset Management to 'A'; outlook stable


Tue Apr 8, 2014 6:42am EDT

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(Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has upgraded Aberdeen Asset Management Plc's (AAM) Long-term Issuer Default Rating (IDR) to 'A' from 'A-' and Short-term IDR to 'F1' from 'F2' following AAM's acquisition of Scottish Widows Investment Partnership Group Limited (SWIP). The Outlook on the Long-term IDR is Stable.

The upgrade recognises the improved product and geographical diversification that the SWIP acquisition brings to AAM. This supports AAM's otherwise favourable financial metrics for an entity rated in the 'A'-range, notably its strong profitability and low levels of gearing and debt. AAM's franchise and earnings potential is supported by improved distribution capability as a result of a long-term strategic relationship with Lloyds Banking Group Plc (A/Negative/a-), which became a 9.9% shareholder of AAM in consideration for the sale of SWIP.


KEY RATING DRIVERS - IDRs

AAM's IDRs reflect its profile and track record as a traditional asset manager. The ratings benefit from the high cash generation typical of AAM's industry but are also exposed to the risks common to its peer group, notably the sensitivity of assets under management (AUM), and consequently earnings, to market dynamics, and operational and reputational risks. AUM was up by 7.1% to GBP200bn at the financial year ended 30 September 2013 but had reduced to GBP187bn by end-February 2014 due to continuing weaknesses in emerging markets. Management's pro-forma balance sheet of the new combined AAM/SWIP business shows that AUM would have increased by about 74% at end-February as a result of the acquisition.

AAM has grown into its present global position via successfully integrated acquisitions, which have contributed to higher earnings and increased geographic and product diversification. AAM's ratings consider the increased portfolio diversification arising from the SWIP acquisition, particularly from the addition of a GBP55.7bn quantitative equities and GBP39bn fixed income portfolio. Furthermore, SWIP's strong UK and developed market focus mitigates AAM's previous concentrations to emerging markets and Asia Pacific.

The ratings also consider the integration challenges, margin pressures and potential reduction of existing AUM in light of the comparatively large SWIP acquisition. Fitch considers that cost savings from the elimination of duplicated activities will contribute to improving financial performance although this will be offset by integration costs during FY14 and FY15. Operating and fee margins are tighter in the acquired business, which will weaken the combined group's margin and efficiency metrics in the short to medium term.


RATING SENSITIVITIES - IDRs

AAM's IDRs would benefit from successful execution of the integration process, and could be sensitive to AUM levels and balance sheet discipline. They could be upgraded if AAM's AUM continues to increase and/or there were further improvements in client, product and geographical concentrations combined with an improving net cash balance and earnings with consistently low levels of leverage.

The ratings could be downgraded if there is a substantial and sustained increase in leverage, material reputational damage, a sustained deterioration of fund performance or significant AUM net outflows.


KEY RATING DRIVERS AND SENSITIVITIES - SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

AAM's USD500m perpetual cumulative subordinated instruments receive 50% equity credit and are rated three notches below AAM's IDR in accordance with Fitch's criteria for the "Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis" dated 23 December 2013. A hybrid instrument with easily activated going-concern loss absorption would normally be rated at least three notches lower than the issuer's Long-term IDR.


The rating actions are as follows:

Long-Term IDR upgraded to 'A' from 'A-'; Outlook Stable

Short-Term IDR upgraded to 'F1' from 'F2'

Subordinated Perpetual Cumulative Notes upgraded to 'BBB' from 'BBB-'

Stop to 339.0 to lock in + 37

LATEST BROKER VIEWS

Date Broker New target Recomm.
9 Apr RBC Capital... 495.00 Outperform
7 Apr Credit Suisse 440.00 Neutral
4 Apr JP Morgan... N/A Overweight
3 Apr Numis 450.00 Hold
2 Apr Numis 425.00 Hold
2 Apr Barclays... 535.00 Overweight
2 Apr Jefferies... 350.00 Underperform
1 Apr Canaccord... 460.00 Buy
1 Apr Espirito... 514.00 Buy
28 Mar JP Morgan... 509.00 Overweight
Broker Recommendations for Aberdeen Asset Management

Nice one Chris.

Thanks skinny, on nights now so keeping stop tight, has to consolidate at some point.

Back on watch list, left a limit buy @ 442.0
Reluctant to go short.

Wee punt long on the spreads @ 423.0 interim 06th May. Tight stop.

Stop to entry for risk free trade.

Latest broker views


Date

Broker

New target

Recomm.


14 Apr Goldman Sachs 540.00 Buy
9 Apr RBC Capital... 495.00 Outperform
7 Apr Credit Suisse 440.00 Neutral
4 Apr JP Morgan... N/A Overweight
3 Apr Numis 450.00 Hold
2 Apr Numis 425.00 Hold
2 Apr Barclays... 535.00 Overweight
2 Apr Jefferies... 350.00 Underperform
1 Apr Canaccord... 460.00 Buy
1 Apr Espirito... 514.00 Buy

Broker Recommendations for Aberdeen Asset Management

Stop to 438.0 to lock in + 15

Highlights
ABERDEEN ASSET MANAGEMENT PLC Interim Results for six months to 31 March 2014
• Revenue £503.5 million (-2%)
• Underlying profit before tax £217.0 million (-3%)
• Underlying earnings per share 14.3p (-4%)
• Dividend per share 6.75p (+12.5%)
• Operating margin 43.0% (2013: 43.8%)
• AuM £324.5 billion
FINANCIAL HIGHLIGHTS
March 2014 Revenue £503.5m
March 2013
£516.0m
£222.8m £188.2m
14.88p 12.43p 6.00p
£221.2m £24.6bn +£4.4bn
£212.3bn
Pre-tax profit
Before amortisation of intangibles & acquisition costs After amortisation of intangibles & acquisition costs Diluted earnings per share
Before amortisation of intangibles & acquisition costs After amortisation of intangibles & acquisition costs Dividend per share
Core operating cashflow
Gross new business
Net new business
Assets under management at period end
£217.0m £168.7m
14.32p 10.67p 6.75p
£221.6m £14.3bn -£8.8bn £324.5bn
Martin Gilbert, Chief Executive of Aberdeen Asset Management, commented:
“Aberdeen has delivered a resilient set of numbers in this half year, given the difficult backdrop for emerging markets. Our disciplined investment approach, long-term investment track record and tradition of client service have enabled us to limit equity outflows whilst we have continued to win mandates in other asset classes, such as fixed income and property.
“There are signs of a pick-up in sentiment towards emerging economies, as investors are again identifying opportunities and recognising the fundamental strengths of these markets. Equally encouraging is the healthy improvement in the relative performance of our key equity products so far this year.
"At the end of March we were delighted to complete our acquisition of SWIP and the process of integrating the business is proceeding as planned. The deal adds scale and strengthens further our broad range of investment capabilities and confirms Aberdeen’ s position as one of the world's leading asset management groups.”
Management will host a presentation for analysts and institutions today at 10:00 (UK) to be held at the offices of Aberdeen Asset Management, Bow Bells House, 1 Bread Street, London EC4M 9HH. The event will also be available to view via a live webconference. To register please use the following weblink:
http://www.media-server.com/m/p/puq2e24j

For more information:
Aberdeen Asset Management
Martin Gilbert Bill Rattray
Maitland
Neil Bennett Tom Eckersley
Chairman’s statement
Chief Executive Finance Director
+ 44 (0) 207 463 6000 + 44 (0) 207 463 6000
+ 44 (0) 207 379 5151 + 44 (0) 207 379 5151
The first half of this financial year was characterised by exacting conditions in emerging markets, with weaker investment sentiment impacting our equity new business flows. Nevertheless, we have enjoyed further encouraging demand for certain of our fixed income and property strategies and have continued to make progress in developing our diversified pipeline of new business which will be added to assets under management (“AuM”) in the coming months.
We completed the major element of the acquisition of Scottish Widows Investment Partnership (“SWIP”) on 31 March 2014, and the purchase of the SWIP infrastructure business completed on 1 May 2014. Considerable corporate energy, in addition to the specific transition-related costs, was invested during the period in bringing this acquisition to a successful conclusion, while the benefits to profitability will not begin to accrue until the beginning of the second half of the financial year.
This transaction adds new and complementary strategies to our product range, and enhances the Group’s position as a leading global asset manager. We aim to build on and deepen the strategic relationship with Lloyds Banking Group as well as marketing our additional capabilities to our worldwide client base.
Total AuM at 31 March 2014 were £324.5 billion; excluding the £134.1 billion added by SWIP, Aberdeen’s AuM fell 5% to £190.4 billion (30 September 2013: £200.4 billion).
Financials
Profit before taxation for the period was £168.7 million (2013: £188.2 million). Underlying profit, stated before amortisation of intangible assets and exceptional costs in respect of the SWIP acquisition, was £217.0 million, compared to £222.8 million in 2013. This represents underlying earnings per share, on a diluted basis, of 14.32p (2013:14.88p).
The Board has decided to pay an interim dividend of 6.75p per share, an increase of 12.5% on the interim dividend announced last year which will be paid on 19 June 2014 to qualifying shareholders on the register at 16 May 2014. This increase is in line with the Board’s objective to pay a growing dividend each year.
Net revenue for the period decreased by 2% to £503.5 million (2013: £516.0 million). Recurring fee income was little changed at £491.1 million (2013: £492.5 million), while performance fees contributed £12.4 million (2013: £23.5 million). The blended average management fee rate remained steady at 50.0 basis points (year to September 2013: 50.0 basis points).
Operating costs of £286.9 million fell by 1% compared to the equivalent period last year, and were 4% lower than for the second half of our last financial year, and we have been proactive in identifying and implementing further cost savings over and above the synergies expected from the SWIP transaction. The Group’s operating margin for the period was 43.0% (2013: 43.8%).
We generated £221.6 million of core operating cashflow (2013: £221.2 million), representing a conversion rate of underlying operating profit of 102% (2013: 98%), and ended the period with a cash position of £410.4 million.
As we stated when we announced the transaction, the addition of SWIP will reinforce Aberdeen’s progressive dividend policy and, while we will incur some one-off integration costs over the next year, it will enhance our ability to return surplus capital to shareholders over time.
Review of operations
Assets under management increased to £324.5 billion, of which the SWIP transaction added £134.1 billion. The principal changes in total AuM are shown in the following table, and a fuller analysis by asset class is included at the end of the interim results statement.
AuM at 30 September 2013
Net new business flows for the period Market movements & performance Exchange movements
SWIP acquisition
AuM at 31 March 2014
£bn
200.4 (8.8) 3.3 (4.5) 190.4 134.1 324.5
Gross new business inflows for the period totalled £14.3 billion (2013: £24.6 billion) and outflows amounted to £23.1 billion (2013: £20.2 billion), resulting in a net outflow for the six month period of £8.8 billion (2013: net inflow £4.4 billion).
Inflows were subdued for the first five months although we then saw some improvement during March as we began to convert the pipeline of new mandates awarded by a range of clients. Against the backdrop of weak investor sentiment, we encountered net outflows from our main equity products, but we enjoyed healthy net inflows to our property, emerging market debt and high yield bond products.
Investment performance across our fixed income strategies is generally ahead of the relevant benchmarks for both short and longer term time periods and our property performance remains robust. Performance of our key equity products has been running behind benchmark on a one year basis, but we have continued to focus on our bottom up, fundamental style of investing for the longer term in good quality companies at attractive valuations, and we have seen healthy outperformance in March and April. It is inevitable that our style will lead to periods of shorter term underperformance, but we believe our longer term performance track record remains compelling and we do not plan to make any significant changes to our equity process.
Our distribution is focused on multiple business and distribution channels with teams operating on-the-ground in 26 countries and covering a further 34 remotely. We continue to see strong growth in North America, continental Europe and selective markets in Asia. Our focus is on providing our existing clients with a high level of service and to market our wider range of products outwith our well known strengths in Asia Pacific, emerging markets and global equities. As reflected in the flow figures, EMD, high yield and European property are areas which are attracting interest.
SWIP completion and integration
The major part of the SWIP transaction was completed on 31 March 2014, for purchase consideration comprising 108.5 million new ordinary shares, a further 17.3 million shares to be issued once Lloyds have received certain regulatory consents and a deferred top-up payment of £39.4 million which is payable on 31 March 2015. A further 5.9 million shares were issued to Lloyds on completion of the acquisition of the SWIP infrastructure business.
We have an excellent track record of integrating businesses with a clear global operating model. The respective teams of Aberdeen and SWIP have worked together over the last few months to create and refine the detailed integration plans across all areas of the business, and the implementation process has begun, and I am pleased to welcome our new colleagues to the Group.
Aberdeen’s traditional approach has been to build relationships with key clients at all levels. Together with the existing SWIP teams we have already started to develop further relationships with Lloyds Banking Group and its Wealth, Insurance and Retail businesses.
As we highlighted in our announcement of the transaction in November, SWIP brings some further diversification to the enlarged Group’s product range, and our Aberdeen solutions business will be enhanced by the integration of SWIP’s quantitative investments, investment solutions and alternatives capabilities. We have also decided to include money market assets as a component of the enlarged Group’s fixed income business.
This re-alignment is consistent with our strategy of growing our non-equity businesses over time. Our enhanced solutions capability, encompassing new quantitative investment strategies, stronger fixed income team and broader alternatives offering, mean we have a comprehensive suite of products to meet the needs of investors around the world.
Outlook
Whilst the six month period under review has been demanding, the completion of the SWIP transaction creates an exceptional platform to ensure the continuity of high quality client service which will enable further organic growth.
Towards the end of the period, there were indications of some pick-up in investor sentiment towards emerging markets, although we anticipate that some uncertainty could remain. More recently, an encouraging improvement in investment performance should improve the outlook for our equities strategies and we are confident that the added scale and breadth of the enlarged Group’s capabilities, combined with our long-term investment focus, provide a solid base from which to pursue further profitable growth for our investors.
Roger Cornick Chairman

On watch list, support @ 400ish, if that goes back to 380.0

On the move again or dead pussycat bounce?

Limit buy triggered this morn @446.1 target 480.0 stop 436.1.

Some support here @ 440.0 needs to hold on 50DMA low volume.

Question now is can it break resistance at 460 or remain in range between 440 - 460?

LATEST BROKER VIEWS

Date Broker New target Recomm.
1 Jul Jefferies... 350.00 Underperform
30 Jun Barclays... 510.00 Overweight
5 Jun Liberum Capital 555.00 Buy
20 May Barclays... N/A Overweight
16 May Numis 455.00 Hold
16 May Berenberg 530.00 Buy
13 May Espirito... 550.00 Buy
12 May Goldman Sachs 540.00 Buy
7 May RBC Capital... 500.00 Outperform
6 May RBC Capital... N/A Outperform

Make your mind up time.

Stuck in a trading range, wouldnt touch it with a barge pole, Carsons judgement is clouded with all the cheap ale he knocks back.

Correct, stuck in a trading range till it isn't Golden Balls. In the meantime profits locked in.

Your profits all go on cheap Aberdeen ale.

Back in long @ 417.50 tight stop.

LATEST BROKER VIEWS

Date Broker New target Recomm.
31 Jul Credit Suisse 440.00 Neutral
30 Jul Credit Suisse 440.00 Neutral
30 Jul Berenberg 510.00 Buy
29 Jul Espirito... N/A Buy
29 Jul Canaccord... 460.00 Hold
29 Jul Jefferies... 350.00 Underperform
28 Jul Numis 455.00 Hold
28 Jul Espirito... 550.00 Buy
10 Jul Barclays... N/A Overweight
1 Jul Jefferies... 350.00 Underperform
Broker Recommendations for Aberdeen Asset Management

From Ed Bowsher, across the river from the City

Dear Reader,
Ed Bowsher
You don't often hear a chief executive say that analysts are too bullish on his company's prospects.

So my interest was piqued when I saw the boss of Aberdeen Asset Management (LSE: ADN), Martin Gilbert, do just that on Friday.

Gilbert reckons that the City's hopes for Aberdeen and the rest of the asset management industry are simply out of step with reality.

In effect, he's saying that share prices in the sector are too high.

It's a refreshingly honest take. But in this case, I think he's wrong. There are some good opportunities in this sector – you just need to know where to look…


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What commodity's more valuable than gold and oil put together… and could treble your money?

And how China's dirty secret could make you serious money in 2015?

Get the answers right here.

MoneyWeek magazine is an unregulated product published by MoneyWeek Ltd.


Money managers have over-promised and under-delivered

Gilbert gave his views on the money management business on Bloomberg at the end of last week.

"We have got into a situation where the industry has over-promised and under-delivered… Analysts have been a bit too bullish on the sector. At one stage, we [at Aberdeen] had 19 buy ratings and three holds – you can only go one way from there."

Gilbert's view is sensible, no doubt about it. We're five years into a bull market. It's not the longest ever, but it's beyond the average bull market length. So it would be no great surprise if the stock market fell significantly at some point over the next couple of years.

If that happened, the value of the assets that Aberdeen manages in various funds would fall. And as a result, Aberdeen's fee income – and therefore its profits – would fall too.

Aberdeen has also been hit by the poor performance of emerging markets over the last year. Emerging-market funds are the core of Aberdeen's business, so the company inevitably suffers when sentiment turns against the likes of China and India.

Indeed, Aberdeen lost a mandate to look after assets worth £4bn for a group of Asian investors earlier this year. The strength of the pound has also hurt the company.

What's more, some of the long-term trends for the fund management sector are also negative. Thanks to regulatory changes, fund investors are now better informed about where their money is going. No longer do investors just pay one annual charge for a fund investment. Instead, they pay separate fees to the fund manager and the platform provider, such as Hargreaves Lansdown (LSE: HL).

This greater level of transparency is pressing Aberdeen and its peers to cut charges. And increased competition could drive charges down further. As Gilbert put it: "The fund management-sector has been very easy… It's a high margin business. It does tend to bring in the competition."

On top of that, more and more investors are waking up to the advantages of passive funds over the more expensive actively-managed funds. (A passive fund just tracks a particular stock market index and normally buys all the shares in that index. Active funds employ expensive fund managers to pick their favourite shares, in the hope of beating the market.)

Many large fund management companies don't offer any passive funds. Even where they do, they're inevitably less profitable, given the lower charges that come with them.

It's not all bad news – there are a few good stocks in this sector

Given this background, I agree that some fund management companies are definitely over-valued. Henderson Group (LSE: HGG) is one example. About a fifth of its income comes from performance-related fees. These charges will be especially vulnerable if we see a serious stock market correction.

But there are some reasons to be positive about other firms in the sector.

For starters, I think there's a growing awareness that we all need to save harder. A big chunk of those savings will go into the stock market via investment funds. The new £15,000 annual limit for Individual Savings Account (Isa) investing should also help.

I also think that, despite all the bad news, the valuations for some fund management groups have probably fallen too far. Perhaps surprisingly, Aberdeen is one of the best examples. The share price is down 15% this year, and the price/earnings ratio is now just 13 as a result. That's not too bad at all.

What's more, Aberdeen bought Scottish Widows Investment Partnership (SWIP) earlier this year. SWIP has a decent passive business, so Aberdeen is now a more diversified business and less reliant on emerging markets.

But fund management companies aren't the only way to play the likely long-term trend of increased stock market investment by private individuals. You can also invest in the investment platforms that enable you to buy shares and funds cheaply over the web.

The best-known is Hargreaves Lansdown (LSE: HL), and it's been fabulously successful in recent years. However, I'm not tempted to buy, because it just looks too expensive, and greater competition may force Hargreaves to cut its prices (and margins), before too long.

However, one other stock has caught my eye in this area. It's Charles Stanley (LSE: CAY). Historically, the company is a traditional stockbroker. But it's now sensibly moving to where the growth is, and has launched Charles Stanley Direct, a rival to Hargreaves Lansdown. This new(ish) platform looks good, and I suspect Charles Stanley can be a successful player here. The rest of Charles Stanley's business seems to be doing reasonably well, so at 343p, the company does look tempting.

So, overall, I think that Gilbert was a little harsh on his sector – perhaps reflecting the drop in his company's share price in the past year. Sure, there are no screaming bargains here, and there are issues to worry about, but both Aberdeen and Charles Stanley should prove to be decent investments in the long run.

Got a comment on this article? Leave a comment on the MoneyWeek website, here.

Until tomorrow,

Ed Bowsher

Digital Managing Editor, MoneyWeek

Maybe Martin Gilbert should diss this sector every week. Wish I had added at the beginning of the week now. :0)

Stop to entry for risk free trade.

Stop to 427.50 to lock in + 10

Out the spreads for now @ 432.18 + 14.68

Back on watch list, obvious any Scottish company will get hit by recent polls in Scottish Referendum because of the outcome of a "yes vote" which ain't gonna happen. Looking to buy the dip.

Gone long on the spreads (Dec Contract) @ 433.33

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Bit far on the bus from Aberdeen Bullshare :0)

Haven't you got a bus pass

Aye, but only for Scotland alders.

How do you mean Chris you told me you were 65 therefore free bus pass all over country.

Don't know what the bus pass age is in England alders. I'm 61 in December, bus pass age up here is 60.

Hey the chief honcho was on TV last night and is behind the Yes campaign Chris........sell sell sell sell.

LATEST BROKER VIEWS

Date Broker New target Recomm.
10 Sep JP Morgan... 500.00 Overweight
8 Sep Barclays... N/A Overweight
8 Aug Liberum Capital 555.00 Buy
31 Jul Credit Suisse 440.00 Neutral
30 Jul Credit Suisse 440.00 Neutral
30 Jul Berenberg 510.00 Buy
29 Jul Espirito... N/A Buy
29 Jul Canaccord... 460.00 Hold
29 Jul Jefferies... 350.00 Underperform
28 Jul Numis 455.00 Hold

That was before they knew that the cheif honcho was a YES FAN.

gf - So what are you waiting? Put your money where your mouth is and declare you are short. :0)

Short Chris? Im 6ft 9 3/4 inch tall.

18st 9lbs........a fine specimen.

Dont take things so serious, just pulling your leg.

Think you know that anyway.

Stop to entry for risk free trade.

Back in long (SB) @ 441.06 tight stop.

Bounced off 200DMA and is attempting to close gap to 450p initial target 460p tight stop.

Gap closed, MACD looks overbought but more scope to upside in RSI. Stop to entry.

Should have a chart in the header here.

Carson contact Ian please and ask if he could do .

Not my call, originator of thread. Anyway what's it got to do with you?

Needs more volume and providing indices don't tank, if it can break 460p and hold above it, next major resistance 500p

RNS
RNS Number : 4000Y
Aberdeen Asset Management PLC
01 December 2014





ABERDEEN ASSET MANAGEMENT PLC
RESULTS FOR THE YEAR TO 30 SEPTEMBER 2014 (AUDITED)


Highlights

· Net revenue 4% higher at £1,117.6 million (2013: £1,078.5 million)
· Underlying profit before tax increased by 2% to £490.3 million (2013: £482.7 million)
· 4% decrease in underlying diluted earnings per share to 31.1p (2013: 32.5p)
· Final dividend of 11.25p per share (2013: 10.0p), making 18.0p for the full year (2013: 16.0p)
· Cash increased by 53% to £653.9 million (2013: £426.6 million)
· Assets under management (AuM) increased by 62% to £324.4 billion (2013: £200.4 billion) following acquisition of SWIP



2014
2013
Net revenue
£1,117.6m
£1,078.5m
Underlying results: before amortisation and acquisition-related items


Profit before tax
£490.3m
£482.7m
Diluted earnings per share
31.1p
32.5p
Statutory results


Profit before tax
£354.6m
£390.3m
Diluted earnings per share
22.8p
26.2p
Total dividend per share
18.0p
16.0p
Gross new business
£34.7bn
£43.9bn
Net new business
(£20.4bn)
(£2.5bn)
Assets under management at the year end
£324.4bn
£200.4bn

Martin Gilbert, Chief Executive of Aberdeen Asset Management commented:

"We have delivered robust performance this year in a more challenging environment, underpinned by our long-term track record and also our transformational acquisition of SWIP, which has diversified the Group. The first half of the year was particularly demanding, as investor sentiment turned sharply against emerging market economies. Recently, however, we have seen those concerns abate and outflows from our Asian and emerging market funds have moderated.

"The integration of SWIP is proceeding on schedule and is already beginning to deliver cost synergies ahead of expectations. The acquisition has also made us a more balanced and diverse business and more easily able to ride out the ebb and flow of investor sentiment in particular asset classes and geographies.

"Markets are likely to remain volatile given the uncertain economic and interest rate environment but our new financial year has started well with our broadened product range attracting interest from a range of clients. We will continue to apply our philosophy of long-term fundamental investing to meet the objectives of our clients."

RNS
RNS Number : 4000Y
Aberdeen Asset Management PLC
01 December 2014





ABERDEEN ASSET MANAGEMENT PLC
RESULTS FOR THE YEAR TO 30 SEPTEMBER 2014 (AUDITED)


Highlights

· Net revenue 4% higher at £1,117.6 million (2013: £1,078.5 million)
· Underlying profit before tax increased by 2% to £490.3 million (2013: £482.7 million)
· 4% decrease in underlying diluted earnings per share to 31.1p (2013: 32.5p)
· Final dividend of 11.25p per share (2013: 10.0p), making 18.0p for the full year (2013: 16.0p)
· Cash increased by 53% to £653.9 million (2013: £426.6 million)
· Assets under management (AuM) increased by 62% to £324.4 billion (2013: £200.4 billion) following acquisition of SWIP



2014
2013
Net revenue
£1,117.6m
£1,078.5m
Underlying results: before amortisation and acquisition-related items


Profit before tax
£490.3m
£482.7m
Diluted earnings per share
31.1p
32.5p
Statutory results


Profit before tax
£354.6m
£390.3m
Diluted earnings per share
22.8p
26.2p
Total dividend per share
18.0p
16.0p
Gross new business
£34.7bn
£43.9bn
Net new business
(£20.4bn)
(£2.5bn)
Assets under management at the year end
£324.4bn
£200.4bn

Martin Gilbert, Chief Executive of Aberdeen Asset Management commented:

"We have delivered robust performance this year in a more challenging environment, underpinned by our long-term track record and also our transformational acquisition of SWIP, which has diversified the Group. The first half of the year was particularly demanding, as investor sentiment turned sharply against emerging market economies. Recently, however, we have seen those concerns abate and outflows from our Asian and emerging market funds have moderated.

"The integration of SWIP is proceeding on schedule and is already beginning to deliver cost synergies ahead of expectations. The acquisition has also made us a more balanced and diverse business and more easily able to ride out the ebb and flow of investor sentiment in particular asset classes and geographies.

"Markets are likely to remain volatile given the uncertain economic and interest rate environment but our new financial year has started well with our broadened product range attracting interest from a range of clients. We will continue to apply our philosophy of long-term fundamental investing to meet the objectives of our clients."

Appointment of Joint Broker

RNS

RNS Number : 4295Y
Aberdeen Asset Management PLC
01 December 2014



Appointment of Joint Corporate Broker

Aberdeen Asset Management PLC is pleased to announce the appointment of Credit Suisse Securities (Europe) Limited as joint corporate broker alongside the Company's existing broker, JP Morgan Cazenove.

Aberdeen Asset Management
Martin Gilbert Chief Executive + 44 (0) 207 463 6000
Bill Rattray Finance Director + 44 (0) 207 463 6000

Maitland
Neil Bennett + 44 (0) 207 379 5151

Tom Eckersley + 44 (0) 207 379 5151

LATEST BROKER VIEWS

Date Broker New target Recomm.
1 Dec Canaccord... 430.00 Hold
1 Dec Espirito... 541.00 Buy
1 Dec Liberum Capital 517.00 Buy
12 Nov Barclays... N/A Equal weight
10 Nov Numis 455.00 Add
4 Nov Credit Suisse 455.00 Neutral
22 Oct Liberum Capital 508.00 Buy
7 Oct Credit Suisse 440.00 Neutral
3 Oct Berenberg 510.00 Buy
1 Oct Barclays... 500.00 Overweight
Broker Recommendations for Aberdeen Asset Management

Stop to 460p initial target.

LATEST BROKER VIEWS

Date Broker New target Recomm.
2 Dec Numis 455.00 Hold
2 Dec RBC Capital... 500.00 Sector Performer
2 Dec Beaufort... N/A Buy
2 Dec JP Morgan... 500.00 Overweight
1 Dec Canaccord... 430.00 Hold
1 Dec Espirito... 541.00 Buy
1 Dec Liberum Capital 517.00 Buy
12 Nov Barclays... N/A Equal weight
10 Nov Numis 455.00 Add
4 Nov Credit Suisse 455.00 Neutral
Broker Recommendations for Aberdeen Asset Management





Limit Buy left @ 466.0

Joined Carson aka Blue Boy, Lord Carson etc etc here this morning.......

Aberdeen results indicate ‘small positives’ for next year
Aberdeen Asset Management (ADN) has reported good cash generation and dividend growth with a number of ‘small positives’ expected over the coming year.

Peel Hunt analyst Stuart Duncan retained a ‘buy’ recommendation and target price of 490p on the shares after final results beat forecasts with profits hitting £490.3 million. The shares rallied 1.7% to 457.5p yesterday on the news.

‘While [the] results were largely as expected, operating cash generation remains strong, underpinning expectations of good dividend growth in the coming years,’ he said. ‘A December 2015 estimate enterprise value/ net operating profit after tax multiple of 11.7x remains attractive, with a yield of over 4%.’

Duncan noted the integration of Scottish Widows Investment Partnership was ‘progressing well and that cost synergies are ahead of expectations’.

‘The new year is reported to have started well, with client interest in the product range,’ he said.

http://citywire.co.uk/money/the-expert-view-lloyds-tesco-and-aberdeen/a787081?ref=citywire-money-latest-news-list#i=4

I was stopped out at my initial target 460p. I will be joining you only if my Limit Buy is filled @ 465p keep up gf, Mike740, purple etc etc :0)

AND ANOTHER.......someone on the job here whos got some push.......

Tuesday tips round-up: Iron ore miners, Aberdeen Asset Management

Tue 02 December 2014 09:27 | A A A
No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Iron ore miners may be facing much the same dilemma as OPEC is, when trying to force high-cost producers out of the market. Although plummeting crude prices may force some smaller tight oil producers to stop producing for a time, the well infrastructure and technology, once developed, will remain. Indeed, creditors who take over bust shale operators and wish to maximise their cash recovery may not be dissuaded by the price falls.

Similarly, the big miners who keep shovelling iron ore out of the ground may see only limited success in forcing smaller competitors out. Even if an operation is shut, as African Minerals decided to do on Monday with one mine, the infrastructure will continue to be in place should prices revive, writes the Financial Times's Lex column.

Things seem to be looking up for Aberdeen Asset Management. The firm's decision to acquire Scottish Widows Investment Partnership (SWIP) in April seems to have been well-timed. It may help to rebalance the business towards UK equities. As well, the emerging markets in which it has 25% of its assets invested should benefit from the decline in oil prices, the company's chief executive believes. In particular, an improved economic performance may help to staunch the outflows from assets invested in those markets during the year to September.

To take note of, as regards possible risks, Aberdeen has accumulated an 8% stake in Standard Chartered, which is equivalent to a large bet that a much-feared rights issue will not materialise. Most significantly, come spring the fund manager will have a surplus of cash on its balance sheet relative to regulatory requirements. Hence, some sort of share buy-back would seem to be on the cards.

Trading on 13 times' this year's profits the stock is "worth a buy" for the long-term prospects, says The Times's Tempus.

hmmmmmmm a share Buy Back .......I like those not sh-ty special premiums where the MMs mark it down just like a normal divi, cheating so and sos.

Aberdeen Asset Management reports a 62% rise in assets under management
Aberdeen Asset Management | 01 December 2014

http://www.hl.co.uk/shares/shares-search-results/a/aberdeen-asset-management-ord-10p-shares?tab=security_research

from above.......

" For now, market consensus opinion presently points to a buy".

ADN

Beaufort Securities............BUY

Their View:

Aberdeen Asset Management (ADN.L, 457.50p) - Buy

Aberdeen Asset Management announced its results for the year ended 30th September 2014. Net revenues increased 4% y-o-y to £1.12bn thanks to a higher recurring fee income which offset the decline in performance fees. Underlying operating profit, before amortisation of intangible assets and the one-off acquisition and integration costs, inched up 2% to £490.3m for the year. However, diluted EPS fell 4% y-o-y to 31.1p from 32.5p in the last year. Aberdeen’s Assets under management (AuM) increased by 62% y-o-y to £324.4bn following the acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds in March. The SWIP acquisition added nearly £135.0bn of assets. The Board announced a final dividend of 11.25p per share, resulting in full year dividend of 18.0p.

Our view: Despite a challenging environment, Aberdeen delivered robust performance. The company’s cash position improved to £653.9m as of 30th September 2014 from £426.6m over the same period last year. The acquisition of SWIP played a pivotal role and is already beginning to deliver cost synergies. In fact, Aberdeen’s strong cash flows and financial stability allowed the board to recommend a 12.5% increase in the final dividend. Going forward, given the strong financial position, and a broadened and enhanced range of products, we retain our Buy rating for the stock.

Carson carson whats the price, carson whats the price. he he

gf, gf no surprise, gf no surprise :0)

Carson carson get some bought, Carson get some bought.

PS, chris take a good look at STOB.........last years TCG........no kidding.

gf- Limit Buy triggered yesterday @ 465 do keep up. Never traded STOB will have a look. HWDN on a mission.

Carson Carson, carson whats the score.

They call Me Mr 90% do da do da, they call me Me Mr 90% do da do da.

Last 20 picks 19 winners 1 loser and I took 42 points profit on that.

They call me Mr 99% do da, do da, they call me Mr 99% do da do da........do da do da....DAY.

Nurse a bit late with the meds gf?

ps - How exactly does that work, '1 loser and i took 42 points profit on that' ?

Carson Carson Carson.........whats the score Carson whats the score.




remember they call me MR 99% (revised upwards).

AND you being associated with doodlebug is turning YOUR rating downwards.

Dont forget doodlebug stands for PROFIT WARNING.......................

Carson Carson look at the chart Carson look at the chart...........

Great chart, but your a day late results were yesterday. AND still don't know what your entry was. My money is on you having bailed out days ago LOL! LOL! Your having a laugh!

Carson Carson look at the low, Carson look at the low.

Carson Carson at least 100 points, Carson, 100 points.

Should have gone to Spec Savers, should have gone to Spec Savers.

UTD UTD UTD UTD UTD.

Posting stupid comments as above and calling yourself Mr 99% just makes you look stupid and arrogant. WHY do you post a chart and say you are long but never admit or post your entry?

Because he is stupid and arrogant!

Good answer db LOL!

I used a forward PUT on Consort.

Cant see what DB says anyway(hes filtered), he hasnt recovered since he had his ass burnt on FLYB.

He took one hell of a thrashing, but did I post anything personal the day of the results?????????

Not one thing Chris.

I kept it to facts.

No doubt if the result had gone the other way both of you would have been boasting and trying to degrade.

But class always outshines.

Remember Chris Mr 99%.

In fact Chris, I cant see what you are doing mating about with a low life like doodlebug.

Dont forget youl get lumped in the same basket as him.......a low life loser.

Whatever, your credibility would be more acceptable if you had stated that (PUT) when you entered the trade, not after the event.

You carry on calling yourself Mr. 99%. If it makes you happy.

And if it doesn't make you happy then you need to get in touch with the CPA.


"What is the Care Programme Approach (CPA)?
The Care Programme Approach is a process of care planning used if you have significant mental health needs. It involves mental health professionals assessing your needs and drawing up a care plan, which should be reviewed regularly.

A care coordinator should be appointed to you to ensure that the services in your care plan are put in place and that they continue to meet your needs. The care coordinator will usually be a mental health professional who works in a CMHT"

ohhhhhh blah blah blah blah.

Get a sense of humour.

Doodlebug is turning your head.

What as nice chap you were before he interfered with you. Break all ties and get back to your normal self. hes only pulling you down to his level.

And a lot have said this.

See you are at it again you can't help yourself. Obvious you,db and CR from across the road have a history but i'm not interested. Neither have done me any harm. So calling him or anybody else for that matter low life losers doesn't influence or impress me one iota. I'm here to make money and I don't want to be in anybody's gang.

Carson filtered again.

Sadly I cant show him the error of his ways.

Once a star on here, now JUST ANOTHER........the Doodlebug effect.

Gutted!! LOL!!

Added @ 444.45 Ex Divi tomorrow.

LATEST BROKER VIEWS

Date Broker New target Recomm.
10 Dec Citigroup 470.00 Neutral
9 Dec Cantor... 520.00 Buy
4 Dec Barclays... 480.00 Equal weight
4 Dec Credit Suisse 480.00 Neutral
2 Dec Numis 455.00 Hold
2 Dec RBC Capital... 500.00 Sector Performer
2 Dec Beaufort... N/A Buy
2 Dec JP Morgan... 500.00 Overweight
1 Dec Canaccord... 430.00 Hold
1 Dec Espirito... 541.00 Buy
Broker Recommendations for Aberdeen Asset Management

Limit Buy filled this morning @ 408p tight stop again 398p

Stop to entry for risk free trade.

Stop to 416 to lock in + 10

Stop to 428 to lock in + 20

Stop to 430 to lock in + 22 Out this morning locking in profits.

Stopped out. Limit long left @ 433.0 stop 423.0

Filled.

Stop to entry for risk free trade.

Trying for the ninth time since December to crack resistance @ 450p

Not anymore.

Taken some profits here. Starting to look over bought, but then it's not alone.

Having hit a three month high back end of Febuary retraced and bounced off 50DMA yesterday.

For the majority of 2014 the uncertainty regarding Emerging Markets the SP has been in a range between 400-450p. Good trading opportunities. Question going forward can 450p be support and resistance all time high 500p (ish) be tested

Nice start to the week, obviously mirroring UKX going north for now.

If it can close above 470p today looks promising.

LATEST BROKER VIEWS

Date Broker New target Recomm.
19 Mar Morgan Stanley 408.00 Underweight



Seems a bit harsh! Better tighten my stop :0)

Chris, this might be of interest - : Chart of the week: An excellent swing trade

Click on the chart and it will pop out.

Thanks skinny, I get about three emails a week from John Burford. He's very good with his tramline trading, he's been tying to sign me up for at least four years :0) I'm quite happy to receive his free emails.

Bounced off 25DMA and making another assault on 480p

Morning skinny - I wonder if this is the 5th wave your man John Burford mentions? Presently above 490p at the open.

Could be - I thought he was your man! :-)

£5 a cap?

I'm thinking 500p is nailed on skinny, what I can't decide is whether it is the final hurrah. IE because stock appears to follow UKX just how much upside is their left in either in view of forthcoming election and consequent volatility. I guess Keep It Simple Stupid and just follow applies raising stops :0)

All Time High.

Stop to 500p initial target.

Bubble fears rattle fund managers
A quarter of fund managers polled by Bank of America Merrill Lynch said equities are overvalued

By Ben Martin7:07PM BST 14 Apr 2015 Comments4 Comments
On the same day that British shares edged back towards a record high, a closely-watched survey of fund managers around the world showed fears are growing that a bubble has formed in equities.
A quarter of the 145 investors polled by Bank of America Merrill Lynch earlier this month said stock markets were overvalued, compared with a net 23pc in March and just 8pc in February.
This month’s reading is the highest since 2000, when the dotcom bubble burst, although it is some way short of the record touched in 1999, when a net 42pc of investors thought that stock market valuations were overstretched.
Still, worries are growing, with 13pc of fund managers overseeing $392bn (£265.1bn) in assets now regarding bubbles in equities as the largest tail-risk, BoA found. Similar concerns pervade the debt markets, the investment bank said on Tuesday, with a net 84pc of respondents - a new all-time high - believing that bond market valuations are too high.
The ultra-loose monetary policies pursued by central banks around the world in recent years have seen investors pour money into financial markets. The launch of European Central Bank quantitative easing earlier this year sent shares in the eurozone surging to record highs and government bond yields, which move inversely to prices, slumping into negative territory.
In the US, the Federal Reserve has not raised interest rates since 2006 and Janet Yellen, the chair of the central bank, has said the timing of a hike would depend on economic data. American retail sales figures for March, released on Tuesday, showed a 0.9pc increase, which was weaker than had been expected. That helped the Dow Jones Industrial Average, which hit an all-time high of 18,288 last month, trade back above the 18,000 level.
In London, mining shares, which fell sharply on Monday, rallied and lent support to the wider market, with Anglo American, BHP Billiton and Antofagasta gaining 40.8p to £10.39½, 43½p to £14.59½ and 21p to 743p respectively.
The gains helped the FTSE 100 advance 10.96 points to 7,075.26, just shy of the 7,089.77 record closing high hit on Friday.
Oil and gas stocks - including engineer Weir Group, up 91p at £18.80, and Royal Dutch Shell’s B shares, 20½p better at £20.86 - were buoyed by rising crude prices. Tullow Oil, which was demoted to the FTSE 250 last month, rose 29.1p to 368.6p after receiving an additional boost from Citigroup analysts, who turned positive on its shares. The Africa-focused exploration company’s stock has tumbled 57pc in the past 12 months, hit by worries the slump in oil prices will stretch its finances and an ongoing maritime boundary dispute between Ghana and Ivory Coast will delay its Tweneboa-Enyenra-Ntomme (TEN) oil project.
The Citi analysts said both of those concerns were now “more than discounted in the current valuation, with shares trading below our core net asset value of 354p”.
Given Tullow stock is now on an “attractive valuation”, they upgraded to “buy”.
The same went for fellow mid-capper Enterprise Inns (ETI), which was 6.2p higher at 116.7p after well-followed analyst Geof Collyer at house broker Deutsche Bank told clients that the share price had the potential to double.
Investors in the pub sector have been rattled recently by the Government’s move to end the beer-tie. ETI will outline its “strategic response” to the changes on May 12 and will ultimately become a stronger business, despite the shake-up, the analyst reassured investors.
“We think that the potential changes should convert ETI into a more proactive, commercially-minded property manager that could also encompass a partially-owned real estate investment trust and a managed pub division alongside the traditional tenanted estate,” Mr Collyer predicted.
Fund manager Aberdeen Asset Management was among the heaviest blue-chip fallers, sliding 12.7p to 493.8p amid concerns that outflows from its equity products had accelerated. Ahead of half-year results on May 5, RBC Capital Markets analyst Peter Lenardos cut his recommendation on the shares to “underperform” and forecast that investors in its equity funds withdrew a net £1.9bn in the second quarter, up from £900m in the first.
Although only 31pc of Aberdeen’s assets under management are allocated to global, Asia-Pacific and emerging market stocks, “because equities have a higher revenue margin, we believe that these three equity themes comprise over 60pc of Aberdeen’s revenue, and a higher portion of Aberdeen’s profit”, the analyst estimated.

LATEST BROKER VIEWS

Date Broker New target Recomm.
14 Apr RBC Capital... 455.00 Underperform

Just as stock mirrored UKX going up, would appear ditto going down on sidelines till apparent how far.

LATEST BROKER VIEWS

Date Broker New target Recomm.
23 Apr Liberum Capital 517.00 Buy
22 Apr Jefferies... 530.00 Hold

I'm thinking 450 455ish to go back in long on the spreads.

Still thinking, outflows obvious concern.
LATEST BROKER VIEWS

Date Broker New target Recomm.
5 May Numis 490.00 Hold
5 May Cantor... 520.00 Buy
5 May Liberum Capital 484.00 Buy

Ex -Divi coming up long @ 457p tight stop.

Chris - this may be of interest - Chart of the week: Two shares at critical levels

Thanks skinny, he was spot on. Looking at the chart if sentiment doesn't improve and it doesn't recover from here may find support at 380p. I hope it doesn't retrace back to 340p watching.

JP Morgan seem to think so. No sense of humour! :0)

LATEST BROKER VIEWS

Date Broker New target Recomm.
7 Jul JP Morgan... 435.00 Neutral
15 Jun Cantor... 520.00 Buy
28 May Cantor... 520.00 Buy
28 May JP Morgan... N/A Neutral
27 May Liberum Capital 493.00 Buy
11 May Societe... 485.00 Hold
6 May Barclays... 485.00 Equal weight
6 May Numis 470.00 Hold
6 May Morgan Stanley 395.00 Underweight
6 May RBC Capital... 440.00 Underperform
Broker Recommendations for Aberdeen Asset Management

Until sentiment improves, lower highs lower lows seem inevitable. Clinging to lower bollinger band, dips below, dead cat bounce back inside ....repeat. Went short yesterday @ 395.48 target 360 stop 401.48

Bounced of 380p has sentiment changed?

Stopped out this morn, sitting on my hands for now. Not entirely convinced bounce in both ADN and UKX is not a dead cat even if or when Greece situ is resolved. See what Monday brings. Watching.

Early doors but a no brainer that the spike at the open would't last. Left a buy order @ 405.5 more in hope than expectation tight stop if filled. Earnings week in US and ADN have a trading statement on 23rd.

Just come in from a bowls match. Entry filled stop 398.5 tight.

I wonder if looking at charts of past share movements etc, really has any value in trying to predict share price movements for the future. However having said that - it is "nice" to see previous share lows and highs, but I think they tell us little about future lows and highs. Even moving averages and volumes, I do not seem to benefit from, although interesting.
I think watching mining commodity prices for specific mining companies, and NMIX index ( largest 350 companies listed ex finance companies ) may give me an indication on the short term market movements for momentum trading interday and short term.

I can't get my timing right on entries in either direction at mo. Serves me right for going against trend. Probably going to be stopped out again today on low volume.

May have found support @ 400p but not holding my breath.

Stop to entry for risk free trade.

Maybe a lot of withdrawals coming into effect according to new pension rules ?
I hope to release some of my pension soon.
Could it also effect other Investment Funds - like Mann Group etc.

Numis Hold 372.15 - 440.00 Reiterates

Cantor Fitzgerald Buy 372.15 520.00 520.00 Reiterates

Liberum Capital Buy 372.15 - 490.00 Reiterates

HL COMMENT

28 Jul Barclays... 400.00 Equal weight

LATEST BROKER VIEWS

Date Broker New target Recomm.
4 Aug Numis 410.00 Hold
28 Jul Barclays... 400.00 Equal weight
24 Jul Canaccord... N/A Hold
24 Jul Liberum Capital 437.00 Buy
24 Jul Cantor... 465.00 Buy
24 Jul Barclays... 485.00 Equal weight
24 Jul Jefferies... 405.00 Hold
24 Jul JP Morgan... 415.00 Neutral
23 Jul Numis 440.00 Hold
23 Jul Cantor... 520.00 Buy


Surely this must be due a bounce, making a mockery of above brokers rec's
Buy order left @ 365p target 400p

Investors should stick with emerging markets despite turmoil in Shanghai
There is a powerful consensus that emerging economies will continue to outperform the developed world for the next 35 years


By Martin Gilbert6:16PM BST 08 Aug 2015CommentsComment
These are strange times in the investment world and indeed the whole global economy, when many of the certainties that have driven stock and bond prices over the past decade and more appear to have been thrown out of the window.
On this side of the world, we are seeing vast sums flowing into European markets, particularly fixed income. As I write, the five-year German bund is yielding a whole 0.07pc, hardly the type of return that you could build a pension pot on.
Similarly there is a huge amount of liquidity chasing European property and infrastructure investments, so much that it is hard, to be honest, for a fund manager to invest effectively or prudently.
The European Central Bank’s great quantitative easing (QE) machine is now inflating asset values across the board. I find it hard to reconcile the tales of woe in the papers every morning as the EU wrestles with Greece and the future of the euro, with this wall of money thundering into what is arguably the world’s least attractive economic region right now.


In the US meanwhile, everyone is holding their breath for what is probably the most heavily flagged rate rise in history.
On the other side of the world, Asian markets, and emerging markets as a whole, are as out of fashion as they could be.
Investors’ money has drained away from investments in Asia, Africa and Latin America month after month for the past two years – towards the perceived (wrongly perceived in my view) safe havens of Europe and the US.
This trend has accelerated in the past few months, thanks in large part to the extraordinary events on the Shanghai stock exchange.
Until about a year ago, the exchange, which is relatively immature, illiquid and largely closed to foreign investment, was trading steadily. The main Shanghai Composite index was hovering around 2,000, roughly the same level it had been at since 2012.
Then a shift in government policy, and an injection of liquidity triggered one of the most frenzied bubbles in financial history.

From November until June this year, the composite index more than doubled to a peak of over 5,100 on the back of absolutely no fundamentals whatsoever, other than the Chinese government’s desire for some of the major corporations to raise equity to pay down their debts.
Every bubble bursts however, and this bubble is deflating very rapidly despite attempts to pump it back up at regular intervals. The Chinese authorities are learning the hard way, like Western governments do on a regular basis, that they can’t control market forces, and that any attempt to do so is usually expensive and futile.
The index is back down to around 3,600 and there are not many rational investors who think it is heading back up soon.
Events like these can understandably deter people and institutions from investing in emerging markets. They are volatile, illiquid and lack transparency. Asia though is not China – other equity markets in Asia, such as Singapore and Hong Kong, are far more liquid, transparent and better regulated.
Meanwhile ignoring emerging markets entirely is a huge mistake for any long-term investor, since the fundamentals are impossible to argue with.


At this point I should declare my interest. My company, Aberdeen Asset Management, is one of the world’s leading emerging market investors. It has been since my colleague Hugh Young decided to set up our Asian investment operations in Singapore and flew there with little more than a briefcase and a sense of purpose.
Today we are one of the largest investors in emerging markets. (Significantly though we have never been that keen on investing in China, for precisely the reasons that are unfolding in Shanghai now).
We have focused on Asia and emerging markets because we believe that emerging markets offer superior investment returns over the long term – the 20 to 30-year life of a pension fund for example. The fundamentals are hard to argue with.
For example, at the moment emerging markets are a small proportion of indices – which does not reflect their growing economic might and demographics. In fact, if you draw a circle around China, India and south-east Asia, there are more people living in that circle today than in the whole of the rest of the world.
That population is also younger and more dynamic than in the developed economies. As a result, the economies they live in are moving up the technological curve rapidly. Consider the strength of India’s IT industry, or the fact that there are now more mobile phone subscribers in sub-Saharan Africa than in Europe.
There is a powerful consensus that emerging economies will continue to outperform the developed world for the next 35 years, so much so that PwC predicts that by 2050 not only will China be the world’s largest economy by some margin but that India will have also overtaken the US and pushed it into third place.
Despite this shift, there will always be bumps, bubbles and corrections along the way. Which is why it is better to be a stock picker and fundamental investor on a case by case basis and invest for the long term rather than chase market trends.
So Aberdeen will continue to invest in high quality businesses in Asia and Latin America, however unfashionable. If fashion is a 0.07pc yield on a German government bond, we’ll look elsewhere.
• Martin Gilbert is chief executive of Aberdeen Asset Management

If sentiment doesn't improve PDQ, next target for the bears?

Interesting article you posted on 9 Aug.

Re ADN, - general pension changes and pot withdrawals worry me a lot, and
I think one must be cautious probably until after Xmas, until we see how things are settling, then it may become a bargin share to buy.

I had a stake in Man Group a few years ago, and that crashed because FUM fell for a few months. Then it seemed that Man Group started buying smaller Funds, to increase FMU, rather than having their own FUM growth. What will ADN do to maintain FUM ?

Personally I like ADN as a business but am cautious for now.

rekirkham - Yes I agree, on the sidelines at mo watching. Tempting to go short because if the level highlighted is taken out there is no support till 280p. The remainder of laughingly called a summer in UK will produce low volume anyway and sentiment is still poor. Good company all the same. In the mean time wait and see what develops.

rekirkham - I agree if the level highlighted above is taken out then next support is 280p so as a trade short is obvious. However, who knows if sentiment suddenly changes remote as that may seem especially in the remaining summer months, best to be on the sidelines.

Not sure what is happening here have posted two posts neither of which seem to have registered.

Chris, there's a bit in the link in post 92 on the RDSB thread

Thank's skinny.

Bears have smashed through support @ 330p. If slide continues, I'm not betting against it (yet) and 300p goes next target for the bears possible support @ 280p. Would hope there will be some form of relief rally in the markets in the meantime on sidelines watching. This too shall pass :0)

See also Post 962 at: http://www.moneyam.com/InvestorsRoom/posts.php?tid=17757#lastread

Thanks Exec, yes I saw that. Grim doesn't cover it.

LATEST BROKER VIEWS

Date Broker New target Recomm.
4 Aug Numis 410.00 Hold
28 Jul Barclays... 400.00 Equal weight
24 Jul Canaccord... N/A Hold
24 Jul Liberum Capital 437.00 Buy
24 Jul Cantor... 465.00 Buy
24 Jul Barclays... 485.00 Equal weight
24 Jul Jefferies... 405.00 Hold
24 Jul JP Morgan... 415.00 Neutral
23 Jul Numis 440.00 Hold
23 Jul Cantor... 520.00 Buy
Broker Recommendations for Aberdeen Asset Management


Unusual, despite the fall that no broker recommendations either way have been added since 4th August.

Having another crack at breaking 320p. Headache!

The saving grace is its yield, and in the market as choppy as they are at the moment, what are better.
projected earnings seem borderline, but guess work says up. It may be for a bounce. (when?)

I am lucky I sold out at a slight profit + yield in April and May.

For some reason I have it on Watchlist, the chart looks to be bottoming out ? 285.

It is a b, of a market.

The saving grace is its yield, and in the market as choppy as they are at the moment, what are better.
projected earnings seem borderline, but guess work says up. It may be for a bounce. (when?)

I am lucky I sold out at a slight profit + yield in April and May.

For some reason I have it on Watchlist, the chart looks to be bottoming out ? 285.

It is a b, of a market.

I'm hoping 300p was the support, but wtfdik.

If sp can close above 330p hope springs eternal.

Somebody should be feeling a little happier to-day!

Fred - So far so good, but in two minds whether to take profits on not just this one tomorrow, who knows how those crazy yanks will react to whatever the Fed decides at 7pm Eastern. Fingers crossed favourably.

LATEST BROKER VIEWS

Date Broker New target Recomm.
16 Sep JP Morgan... 360.00 Neutral
4 Aug Numis 410.00 Hold
28 Jul Barclays... 400.00 Equal weight
24 Jul Canaccord... N/A Hold
24 Jul Liberum Capital 437.00 Buy
24 Jul Cantor... 465.00 Buy
24 Jul Barclays... 485.00 Equal weight
24 Jul Jefferies... 405.00 Hold
24 Jul JP Morgan... 415.00 Neutral
23 Jul Numis 440.00 Hold
Broker Recommendations for Aberdeen Asset Management


JP Morgan first to have a crack since August. Albeit target price reduced from 415 to 360p I'll take that. In the meantime stop moved to 329p on only SB I have left open.

Stopped out intraday. Thanks Janet :0)

Back on watch list.

Aberdeen Defies China Slowdown With Key Deal
The FTSE-100 fund manager will sign an agreement to expand its presence in the world's second-largest economy, Sky News learns.

By Mark Kleinman, City Editor

Aberdeen Asset Management is to become the first British fund manager to gain a key licence from Beijing to operate on the Chinese mainland just weeks after turmoil in Shanghai's stock markets hit the FTSE-100 group's shares.

Sky News has learnt that Aberdeen will sign a deal with Chinese authorities next week as part of a trade mission led by George Osborne, the Chancellor, and Sajid Javid, the Business Secretary.

Treasury insiders said that Aberdeen's business in China would become incorporated as a Wholly Foreign-Owned Enterprise (WFOE), which will give the British company a more robust platform to grow its presence in the world's second-largest economy.

As part of the deal, it is expected to open a full office in Shanghai to supplant the representative presence it has there now, and will gain greater freedom to publish research on companies listed on the mainland's equity markets.

Alex Boggis, Aberdeen's head of Greater China, is expected to sign the agreement on Tuesday, according to a source with knowledge of the itinerary.

Aberdeen's exposure to emerging markets has spooked investors in recent months, with net outflows reflecting a desire to divert assets to developed world economies.

Last month's slump in the so-called A-share market in China sparked panic-selling in London and New York amid fears that Chinese economic growth may be much lower than official data suggests.

Aberdeen has nearly one-third of its clients' assets invested in emerging markets and the broader Asia-Pacific region, with the exception of Japan. Roughly 5% of clients' assets are invested in Chinese companies through Hong Kong-listed shares.

Martin Gilbert, Aberdeen's respected chief executive, has continued to reaffirm his commitment to the group's strategy, insisting that its exposure to faster-growing markets will pay off over the long term.

Mr Gilbert is also a director of Sky plc, the owner of Sky News.

Aberdeen has seen its shares fall by nearly a quarter during the last year, but it has continued to be acquisitive, buying Advance Emerging Capital, a specialist investment manager, earlier this week.

The Aberdeen deal will be one of a number struck during the Chancellor's visit, with companies including Barclays, Deloitte, HSBC and Standard Life all represented on the trip.

Mr Osborne said on Friday:

"I want us to forge closer economic and cultural links with China. Our partnership for growth, reform and innovation is helping to deliver record levels of investment and trade in both directions, but there is much more we can do.

"This trip is all about exploring new opportunities to open up new markets to benefit both economies."

In a statement, the Treasury added that the Chancellor would argue that "far from backing away from China after the events of the summer, Britain aims to increase cooperation and understanding between the two countries and open up billions of pounds of potential opportunities between what remains the world's fastest growing major economy and the UK".

An Aberdeen spokesman declined to comment on Saturday.

Testing 300p support PDQ, if that goes 285 -280p distinct probability.

Place your bets, breakout above 340p or back to 300p?

JP Morgan target 360p looks odds on here.

Borrowed from across the road. Checked out Scottish papers this am I can't find anything to back this rumour up.

Credit Suisse or Mitsubishi UFJ?


Aberdeen Asset Management has hotly denied reports that it is up for sale.

A financial news website last night claimed that Aberdeen chief executive Martin Gilbert had made “informal approaches” to rivals to buy the firm which is facing challenging markets in the wake of the economic slide in China.

But a spokesman for the firm was very clear in its denial. He said: “In his 32 years running Aberdeen, Martin Gilbert has never made a formal or informal approach to anyone about buying the business.”

Analysts at broker RBC Capital Markets were also quick to rubbish the claims, which appear to have been based on a few unnamed sources who had requested anonymity.

In a note to investors, Peter Lenardos, managing director at RBC, acknowledged the firmwas “in a weak position, hampered by ongoing net outflows that are having an adverse impact on profitability”. But he said a sale process “would be an admission of failure”, adding that Aberdeen was a “well run company”.

“We do not assign much credibility to this article,” he wrote. “We believe that CEOs routinely meet with industry participants to discuss ways to maximise shareholder value, and that no formal sale process is underway.”

The unnamed sources claimed one potential buyer could be Credit Suisse, which sold its asset management business to Aberdeen seven years ago, leaving it with a stake in the UK asset manager which it later sold.

Mr Lenardos noted: “The article fails to name Mitsubishi UFJ – Aberdeen’s largest shareholder – as a potential suitor.
“If Aberdeen were for sale, they would likely receive the first call in our opinion.”

Aberdeen has been hit in recent months by the turmoil in emerging markets, where a large proportion of its investment portfolio is focused.

hxxps://www.pressandjournal.co.uk/fp/business/north-of-scotland/733056/reports-aberdeen-asset-management-is-up-for-sale-are-strongly-denied/

hxxp://www.lse.co.uk/AllNews.asp?code=akkxd7tt&headline=PRESS_Aberdeen_Asset_Management_Sounding_Out_Possible_Suitors__FT

Aberdeen's shares soar on takeover hopes
The investment manager has denied that its boss Martin Gilbert has ever approached rivals about a tie-up

By Marion Dakers, Financial services editor11:27AM GMT 26 Oct 2015 Comments3 Comments
Aberdeen Asset Management has denied reports that its founder Martin Gilbert has been sounding out potential suitors for a takeover of the investment group, which has come under pressure from the rout in emerging markets.
Aberdeen shares rose more than 7pc in early trading before settling almost 3pc higher, sending it to the top of the FTSE 100 leaderboard, as the market reacted to the idea that the company is in play.

Before this jump, Aberdeen’s shares had fallen almost 19pc this year as investors withdrew funds from its Asia-focused strategies
The FT reported on Sunday that Mr Gilbert, who has led the firm since its foundation in 1983, was approaching rivals to explore a possible takeover.
However, a spokesman said that the chief executive “has never approached anyone, formally or informally, about buying the business”.
Mr Gilbert has seen the company through several stock market cycles and kept the firm solvent during the split capital investment scandal of the early 2000s, in which tens of thousands of investors lost money in “low risk” strategies.
The scandal saw Mr Gilbert lambasted by MPs as a “sophisticated snake-oil salesman” as Aberdeen's shares lost 97pc of their value, in a period that reportedly brought him to the brink of resignation.
Like peers such as Ashmore’s chief executive Mark Coombs, Mr Gilbert’s presence through thick and thin turns a takeover into a matter of personal pride. Their own legacy is tied up in the success of the companies, applying pressure on them to leave on a high, rather than sell the firm in distressed circumstances.
RBC Capital Markets analyst Peter Lenardos said he “would be surprised if Aberdeen sold from a position of weakness, which we believe it is currently in”.
“We believe that selling now would be an admission of failure, and that a potential buyer would clearly understand the challenges that Aberdeen is facing and reflect that in its determination of value for the company,” he said.
Nevertheless, analysts have pointed out several catalysts that could drive asset managers to consolidate, despite the strong personalities within these firms that can make them difficult to merge. Sovereign wealth funds, having spent a decade or so handing massive mandates to asset managers, are now bringing more of their money in -house. An FCA review into asset management fees is due to report early next year
Some of the increase in Aberdeen's share price on talk of a possible takeover could be driven by short-sellers, who have loaned out just under 10pc of Aberdeen’s market value, buying up shares to close out their positions after almost a year building profits in their trades.
Aberdeen’s assets under management have descended from record-breaking highs in late 2014, despite a series of acquisitions, in the wake of the emerging market turbulence.
The company spent £650m on SWIP from Lloyds, adding property and other UK investment services to its roster, and has made a series of smaller acquisitions including the recently-announced purchase of a frontier markets investment firm.
Aberdeen is yet to pull the trigger on a share buyback that was announced last December, and spooked some investors over the summer by issuing £100m-worth of preference shares to Mitsubishi UFJ.
Mitsubishi, which is Aberdeen’s biggest shareholder with a 17.2pc stake, did not immediately respond to a request for comment.
In a recent trading update, the firm said its assets under management had dropped £23.3bn to £307.3bn in the three months to the end of June, as clients withdrew from Asia-focused investments and a rout in many emerging markets wiped off value.
The company had two-thirds of its £107.6bn equity portfolio in either Asia Pacific or emerging markets at the end of 2014, leaving the group exposed to the panicked sell-off that gripped the Chinese stock market and other emerging markets during the summer.
"It's not fun watching money go out, [but] this is just the other side of a cyclical business," said Mr Gilbert after the update in July.



comments
Yeh wanted Scotland to vote yes for independence then wants to sell out to foreign rivals, talk about ironic, not very patriot or loyal to Scotland is he, just how would Scotland survive if it sells everything to foreign countries and does and owns nothing itself.

Kick the SNP out, scrap half baked federalism and scrap countries of the UK. Just have 1 country called Great Britain and stop all this nonsense. Wales, England, Scotland and NI should be regions of Great Britain

Martin Gilbert was pushing for Scotland to break away. If he's scared of investors pulling out money after China crisis then imagine what would've happened had Scotland voted to break from the union.

I did not wait for China crisis to pull my money out of Aberdeen. I did it before the Scottish referendum and I'm not coming back, Martin.

Second time 360p breached, providing market doesn't implode and can remain above, next target resistance 380p.

370p breached.

Out 367.5 left buy order on spreads @ 371p

Final Results http://www.moneyam.com/action/news/showArticle?id=5163113

Final Results

Released : 30 Nov 2015


RNS Number : 2853H

Aberdeen Asset Management PLC

30 November 2015










ABERDEEN ASSET MANAGEMENT PLC

RESULTS FOR THE YEAR TO 30 SEPTEMBER 2015 (AUDITED)





Highlights



· Net revenue is up 5% to £1,169.0 million (2014: £1,117.6 million)

· Underlying profit before tax increased to £491.6 million (2014: £490.3 million)

· Continued strong year-end cash position of £567.7 million

· Final dividend of 12.0p per share (2014: 11.25p), making 19.5p for the full year (2014: 18.0p)

· AuM £283.7 billion (2014: £324.4 billion) reflecting negative sentiment towards Emerging Markets

· Product diversification and cost discipline progress in line with strategy

Just said that..you blind or what

Just putting up the highlights Stanley, you know it makes sense :o)

Little respite from emerging market pressure for AAM

Read more: http://www.scotsman.com/business/management/little-respite-from-emerging-market-pressure-for-aam-1-3962943#ixzz3t5qG45d0
Follow us: @TheScotsman on Twitter | TheScotsmanNewspaper on Facebook



The chill winds from emerging markets show few signs of easing soon, Aberdeen Asset Management (AAM) admitted yesterday, as the fund manager posted flat profits and its tenth consecutive quarter of an outflow of funds.

Unveiling annual pre-tax profits of £491.6 million against £490.3m, AAM chief executive Martin Gilbert said: “The cyclical correction in Asian and emerging markets and resulting negative investor sentiment has, as expected, led to further outflows from our equities business.”


However, Gilbert said that, while “the current weakness may have some way to run” he believed that the argument for investing in high-growth emerging economies remained “compelling for patient investors”.





AAM’s assets under management at the end of its financial year on 30 September totalled £283.7 billion, compared with £324.4bn in the year-ago period. Net equities’ outflows lifted from £13bn in 2014 to £16.4bn in the latest financial year.



The fund manager said this was exacerbated by a number of sovereign wealth funds cutting their market exposure in response to the low oil price.

The company has been diversifying its portfolio to reduce its exposure to emerging markets (excluding Asia), which now stands at about £26bn compared with £40bn three years ago.

Bill Rattray, AAM’s finance director, said: “We are still saying they will be quite volatile for a while, although maybe sentiment is just beginning to improve. It’s impossible to call the markets. I suspect it will be geared to when is the first Federal Reserve interest rate rise. It could go either way.”

On further potential outflow of funds from AAM, the finance director said it was difficult to predict but there was potential for further asset haemorrhaging “in the next two quarters”.





AAM completed a number of acquisitions in the financial year, the most notable being the Scottish Widows Investment Partnership (SWIP) deal.

Rattray said there had been about £50m of cost synergies achieved from the integration of SWIP, which included 150 job losses out of a headcount of 3,000.

He added that the fund manager would continue to focus on cost saving to protect profit margins in 2016, but it was expected to be mainly focused on back office and support operations. “We have not put a headcount number on it,” he said, regarding possible future potential job losses, but suggested it was likely to be much lower than the numbers lost in the past year.

AAM’s involvement in the takeover scene, and buffeting from the extended emerging market downturn, has led to some analysts to suggest it might be a takeover target itself.

“I guess you could argue that it is always possible to be seen as a target, but our job as management is just to get on and run the company,” Rattray said.

A final dividend of 12p makes a total payout for the year of 19.5p – up 8.3 per cent.

Been in this range since beginning of September, if it's going to bounce 300p (ish) has been consistant. Not sure how a US interest rise will affect SP. History would suggest that IF we get a Santa rally it performs. Place your bets.

With low and probably lower oil prices, Soveriegn Wealth Funds are having to withdraw deposits to meet ongoing budget needs - i.e. Saudi Arabia etc etc

With the new UK pension regulations I have just withdrawn the 25% of my pension fund tax free and will be drawing down the taxable amounts as best I can.

These stormy seas are very bad news for fund managers, and most of them can not even attain the performances of our indexes.

Probably best to keep out of Aberdeen A M and Mann Group etc, as assets under management may take some time to be rising again.

I suspect we shall soon see some mergers and take overs in this sector

Currently sp at 3 year low.

I know ADN is a punt on EM's which are out of favour due in part to weak commodities but at some point this will reverse. Meanwhile there is a punchy dividend whilst waiting for the rebound. ex-div 7th Jan (12p). Any thoughts?
2517

True George, plus an outside chance of a bid. Been a great trading stock for me personally as well.

Cheers Chris I think it could be quite profitable at there current 290p. I see from another thread your off now, have a good Christmas and all the best for the New Year.
2517

Cheers George, All The Best!

Barclay's have an under weight on ADN with a TP of 250p, at their current 269p they will be quite close to 250p when they go ex div (12p) this thursday. At a 3 year low atm.

In my post above I can't believe I put 'there' instead of 'their'.
2517

"In my post above I can't believe I put 'there' instead of 'their'.
2517"

Nor can anyone else on this bored so I woodn't worrie about it...

I don't hold ADN, but am always on the lookout for high yielding stocks. However, apart from the 6.5% projected yield for 2016, there are only 2 brokers of the 17 quoted which are bullish on the stock, the EPS growth figure is -24% for 2016 and surely if the sp continues to decline the divi may be under threat?
Hopefully someone has a counter argument .............. though the 'It's cheap so may be open to a bid' is very speculative?

A bit more meat on the Barclays note:
"More than just an EM play – Downgrading to UW: The Aberdeen share strongly underperformed in 2015, down 33% vs the avg UK Asset Manager in our coverage universe +16%. It is tempting to view the share as solely a macro call on EM sentiment.
However, we highlight that significant other areas remain vulnerable to outflow risk. This would include the underperforming Global Equities desk, HY in Fixed Income, the SWIP life book and the Multi-Asset area of Aberdeen Solutions. We forecast a slowing of group outflows to £20bn in FY16 (from £34bn in FY15) but believe that risks are to the downside. With a significantly lower asset base in 2016 yoy, revenue declines of - 13% yoy are projected. Cost rationalization plans appear modest in response. The share is trading at 12.6x calendar 2016 PE for a projected 25% decline in EPS yoy. In the light of this negative earnings momentum and outflow risk, we downgrade the stock to Underweight, new target price 250p from 350p. The reduction in PT reflects lower EPS estimates and a lower chosen 2016 PE multiple of 11x (from 11.5x previously).
2/3 of stock of AUM in areas of outflow risk: Aberdeen’s flow outlook is not just at risk from macro EM sentiment, in our opinion. We highlight in 2015 there have been significant outflows from Global Equities (£6bn) and the Multi-Asset area of Aberdeen Solutions (£7bn). In total we identify ~£191bn or 2/3 of Aberdeen’s stock of AUM as concentrated in areas of significant outflows in 2015, and sentiment into 2016 still appears negative. This suggests outflow risk is firmly to the downside.
Limited cost cutting response: Management identified £50m of potential cost saves to offset the downwards pressure on management fees from lower average AUM base. However, precise details on these savings were lacking and management asserted they would be heavily back-loaded into 2017. This suggests operating margins are likely to significantly decline in 2016 - we project down to 37% (from 42% in FY15). 8% downgrade to 2016E EPS: Our forecast changes cause an 8% cut to 2016E EPS to 22.5p and 6% to 2017E to 24.2p. We are now forecasting a 25% decline in EPS yoy in FY16, then a 7% recovery in 2017. The share is trading at 12.6x calendar 2016E PE or 6.7% yield, although DPS cover looks thin for FY16. Our preference amongst the Asset Management names is our top sector pick Henderson (OW, PT320p)."

I'm not in either (yet), I would like to see the directors buying back in, Martin Gilbert CEO and with the co since 1983; Bill Rattray FD with co since 1985 both sold the vast majority of their shares 12 months ago (Dec 2014) @ 461p as did Andrew Laing. No purchases since then by these 3 directors.
2517

Thanks for that HARRYCAT very helpful.
2517

All sadly negative, imo.......especially the phrase 'operating margins are to significantly decline in 2016'.

Yes I don't want to get sucked in by the lure of a juicy divi at the expense of capital.
2517

I still hold a few for the divi and an outside chance of a bid. Good trading stock, the bears have it for now and heading for 240p.

LATEST BROKER VIEWS

Date Broker New target Recomm.
5 Jan Barclays... 250.00 Underweight
7 Dec Peel Hunt 420.00 Buy
1 Dec Beaufort... N/A Buy
1 Dec Exane BNP... 260.00 Underperform
1 Dec Jefferies... 286.00 Hold
1 Dec Citigroup 300.00 Neutral
1 Dec Barclays... 350.00 Equal weight
1 Dec JP Morgan... 315.00 Neutral
30 Nov Numis 320.00 Hold
30 Nov Peel Hunt 420.00 Buy
Broker Recommendations for Aberdeen Asset Management

One for the watch list over next 3-4months.

I see a director has bought today.

This one :-BFN

Richard Mully, Non Executive Director, bought 10,000 shares in the company on the 6th January 2016 at a price of 266.80p. The Director now holds 60,000 shares representing 0.00% of the shares in issue.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

This one :-BFN

Richard Mully, Non Executive Director, bought 10,000 shares in the company on the 6th January 2016 at a price of 266.80p. The Director now holds 60,000 shares representing 0.00% of the shares in issue.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Aberdeen Asset Management picks up Liverpool's Albert Dock for £43m
The Albert Dock is a Unesco heritage site and the home of Tate Liverpool, and is central to the city's huge regeneration efforts.

By Isabelle Fraser, Property correspondent1:49PM GMT 08 Jan 2016 CommentsComment
Aberdeen Asset Management has purchased Liverpool's historic Albert Dock for £43m.
The dock, which is central to the city's regeneration efforts along the waterfront, has become a tourist magnet with more than six million visitors every year.
Albert Dock is just over one mile away from where derelict homes were sold to families by Liverpool City Council for just £1.
The complex, which is a Unesco heritage site, includes the Tate Liverpool and the Maritime Gallery, and is where the Richard and Judy show was broadcast in the 1980s and 1990s.


The former working dock, built in the 1840s at the peak of Liverpool's shipping success, was renovated from dereliction by Arrowcroft in the early 1980s.
It is home to the largest collection of Grade I-listed buildings in the country.
The deal includes 400,000 square feet of both commercial and residential property, including hotels, shops and museums, such as The Beatles Story. Aberdeen Asset Management has bought the site for £42.75 million from The Albert Dock Company, a subsidiary of Arrowcroft.


Nicholas Hai, chairman of Arrowcroft, said: “We take great pride in having restored these magnificent historic buildings and, in so doing, led the regeneration of Liverpool’s waterfront and created an attraction that has global recognition. It is now listed by Unesco as a World Heritage site.
"After 33 years under our ownership we recognise that it is time to move on and it is pleasing that its future will be in the hands of a highly respected Institution. We wish Aberdeen well in their stewardship of this development and into the next chapter of Albert Dock.”


Robert Cass, head of UK Property Transactions at Aberdeen, said: “We are delighted to have acquired this historic development on behalf of our clients.
"The outstanding environment and strong sense of place, coupled with the ongoing growth and development in the City, offer a compelling opportunity.
"We commend Arrowcroft for their vision and dedication to restoring the development and very much look forward to working pro-actively both with Gower Street Estates and other stakeholders in promoting and furthering the wider Albert Dock and Waterfront areas.”

Soooo glad I wasn't tempted to buy these for the dividend. I think I prefer UEM now anyway.
2517

Chances are probably slim to none but, if we do get a dead cat bounce gap to fill @ 270p.

StockMarketWire.com

Aberdeen Asset Management's assets under management rose to GBP290.6 billion at the end of December - up from (GBP283.7 billion at the end of September.

The group also announced that chairman and non-executive director Roger Cornick intends to retire from the board at the end of this financial year on 30 September 2016. He will be succeeded as chairman by Simon Troughton, who is currently the senior independent non-executive director.

Aberdeen saw net outflows of GBP9.1 billion (quarter to 30 September 2015: GBP12.7 billion).

Other highlights:

- Arden and Advance acquisitions were completed during quarter and Parmenion completed in early January

- Flows outlook remains difficult and market volatility continues

- Additional cost savings have been identified and will be implemented in late 2016 and 2017

Chief executive Martin Gilbert said: "During the quarter we added to the business further, completing the acquisitions of Arden and Advance, followed by Parmenion in early January. Like the rest of the industry we continue to contend with the structural imbalances of the global economy and the cyclical slowdown in emerging markets, as well as the impact of falling oil and commodity prices. Despite the day-to-day fluctuations in investor sentiment we remain focussed on those issues that we can control. We are committed to our fundamental approach to investing, managing the business efficiently with a keen focus on costs and most of all striving to deliver the long-term returns that our clients and shareholders have come to expect from Aberdeen.

"Our increasingly diversified business model and strong balance sheet mean we are well placed to navigate the current difficult market conditions offering a wide range of investment capabilities for investors."

Wee gap closed, can it push on upwards from here?

Looks to me like the only way they are getting much "growth" is by buying in "growth". i.e buying other Fund Managers, this is what MAN were / are doing.
This may sound OK, but it slowly dilutes the equity base.

I like Financials generally but I think Banks may be the Financials to buy into now. Give Barclays and RBS another six months of stress and reorganization then they may start to recover. UK Govt also wants to sell its Lloyds shares.

RBS is valued at a large discount to its assets now, and may be the one to take a punt on.
It will not be allowed to fail I believe, and Gov wants a higher price

In the meantime rk, I'll just keep moving my stop up :0)

Morning 2507GEORGE if you are looking in, re UEM know very little about them so need to do some research when I get the chance. Interesting chart, has broken out of a sideways move since last August. Have you traded them before or own a few?

Morning Chris UEM is an investment trust and is a play on emerging market infrastructure and an alternative to ADN. They were recommended by David Stevenson in Moneyweek mag (8th Jan 16) and they've done well since.

As for ADN they've come back strong and now I wish I had got sucked in for the divi, (posts 422 & 431). Ha! Ha!
2517

2517 thanks for that, early doors yet for emerging markets generally but we live in hope :0)

For my records re post 435
Adn closed 289.30 on 14/3/16
RBS closed 232.20 on 14/3/16
EMG closed 152.10 on 14/3/16

rekirkham - Not sure what your point is? Let's go back to my post 432 0n 22/01 ADN SP 220p. Check out post434 on 03/03. Err job done wouldn't you agree. I personally have no interest in RBS but if you want to be pedantic check out SP on 22/01 to date.

You may well be right that RBS going forward may be a better punt than ADN but today I still prefer ADN :0)

Taken some profit on ADN, RBS chart continues to be a basket case some support at 220p.

ADN 253p - probably well oversold for today - one to watch now for a bounce back sometime soon ?

220p needs to hold otherwise lower would be my guess. Watching

ADN 240p support.

Aberdeen Asset Management PLC announces its interim results for six months to 31 March 2016
03 May 2016 - Group
Financial highlights

Net revenue £483.6 million (-20%)
Underlying profit before tax £162.9 million (-40%)
Underlying earnings per share 9.6p (-41%)
Interim dividend per share unchanged at 7.5p
AuM £292.8 billion
£70 million of annualised cost efficiencies to be delivered during 2017
March 2016 March 2015
Net revenue £483.6m £605.2m
Underlying results: before amortisation and acquisition-related items
Profit before tax £162.9m £270.2m
Diluted earnings per share 9.6p 16.2p
Statutory results
Profit before tax £98.8m £185.4m
Diluted earnings per share 5.4p 10.7p
Dividend per share 7.5p 7.5p
Core operating cashflow £114.3m £227.4m
Gross new business £21.5bn £23.4bn
Net new business -£16.7bn -£11.3bn
Assets under management at period end £292.8bn £330.6bn
Martin Gilbert, Chief Executive of Aberdeen Asset Management PLC commented:

“These results reflect the challenging conditions Aberdeen has faced during the past three years, in particular the weakness in emerging markets. However our balance sheet strength has allowed us to continue to invest in the business, including the completion of a number of bolt-on acquisitions which have added new capabilities and new client channels. We have strengthened the management team with senior appointments in distribution and operations. Our broad product suite and global distribution platform means we are well placed to meet the long-term needs of an ever increasing number of investors around the world."

Management will host a presentation for analysts and institutions today at 09:30 (UK) to be held at the offices of Aberdeen Asset Management, Bow Bells House, 1 Bread Street, London EC4M 9HH. The event will also be available to view via a live webconference.

To register please use the following weblink: http://edge.media-server.com/m/p/zzud3n75

LATEST BROKER VIEWS

Date Broker New target Recomm.
3 May Numis 295.00 Hold
3 May Liberum Capital 262.00 Hold
3 May Peel Hunt 330.00 Add
3 May Cantor... 270.00 Hold
29 Apr Societe... 240.00 Hold
26 Apr Citigroup 265.00 Sell
18 Apr RBC Capital... 275.00 Underperform
13 Apr Goldman Sachs 294.00 Neutral
11 Apr Jefferies... 243.00 Hold
8 Apr Exane BNP... 225.00 Underperform
Broker Recommendations for Aberdeen Asset Management

Broker Forecast - JP Morgan Cazenove issues a broker note on Aberdeen Asset Management PLC

BFN

JP Morgan Cazenove today reaffirms its neutral investment rating on Aberdeen Asset Management PLC (LON:ADN) and raised its price target to 275p (from 245p).

Story provided by StockMarketWire.com

Broker Forecast - Jefferies International issues a broker note on Aberdeen Asset Management PLC

BFN

Jefferies International today reaffirms its hold investment rating on Aberdeen Asset Management PLC (LON:ADN) and raised its price target to 253p (from 243p).

Story provided by StockMarketWire.com

Bouncing strongly today

Bought some at the end of the day @ 269.90p

Last results

Shares Magazine - 28 Nov '16

Aberdeen Asset Management (ADN) jumps 3.6% to 296.45p as full year results are ahead of expectation, despite reporting a 39% decline in pre-tax profit to £352.7m. Pre-tax profit and earnings per share beat consensus forecasts by circa 7%, aided by currency benefits and positive market performance. Net outflows were £32.8bn. The company predicts ongoing volatility in global markets in the short term.

changing of trend

272.50p +1.80p +0.66%

The rise is not much so far but considering the market is mainly down is a good omen to be up

Last night UT close of 270.70p was almost 1p higher than the spread at close 269.85p

another good UT close above spread at the time with a large trade, very important

16:35:10
273.20 UT
670,820K

Rising strongly gain this morning. Looks like the share price is reacting to bull markets. My 289 purchase is still under the water, but my 259 addition puts me in profit overall. Hopefully back to 300 in quick time.

280.80p +10.10p (+3.73%)

Another strong move up this morning and now well up from the troubled waters

StockMarketWire.com

Aberdeen Asset Management's assets under management fell to �302.7 bn in the three months to the end of December from �312.1bn at the end of September.

Net outflows of �10.5bn were partly offset by �3.3bn asset appreciation and the group said the bulk of net outflows were largely low margin and anticipated.

The group said a �2.2bn reduction in AuM was due to rationalisation of US Fixed Income business and there was growing interest in its wider range of capabilities.

Chief executive Martin Gilbert said: "Investor sentiment had been improving steadily in the early part of the quarter, but stalled following the US presidential election result with investors putting asset allocation decisions on hold.

"Encouragingly, despite the market volatility our equity strategies produced strong returns for the year.

"While growing interest in a number of our strategies is likely to continue to be masked, in the short-term, by significant withdrawals by a small number of clients, I am encouraged by the progress being made.

"Overall Aberdeen remains in good shape, we have a strong balance sheet, a global client base and wide range of capabilities to meet the needs of investors."

Not an very good performance on the financials, so share price having a knocked too

She went to 283p high but managed to get out @ 276p with just about 6p profit
It does not pay long term this days, so I will continue with trading, providing some workout with larger gains

Bit of a no brainer chart wise that both would fall back inside BB. Interesting to see what happens next.

SL has been seriously dull for as long as i can remember
i think i acquired mine when it first went public and have stuck them in a drawer
i think they've risen perhaps 40% in 5+ years

Both good trading shares though cynic for me, consensus appears to favour SL. going forward, I'm not holding my breath :0)

May flush out a bidder for one or the other.

Wonder how the SNP will like this , job losses probably .

i can't see either now being a t/o target

Yep they seem to have it tied up .

By Alistair Strang | Tue, 14th March 2017 - 10:28
Aberdeen Asset Management

We listed this pair as potential ISA candidates back in February. Aberdeen Asset Management (ADN) is currently trading around 280p, priced near our original mutter being 265p.

ADN [which last week agreed a merger with Standard Life] has recently started some movement which is of interest, worthy of comment.

Essentially, should the share now trade above 309p, we'd be looking for fairly near-term growth toward 334p initially with secondary, if bettered, at a longer term 376p.

As the chart highlights, the 'blue' downtrend since 2015 appears extremely relevant and a break now above is liable to move pretty firmly.

Once again, we'd hope "the Scottish thing" fails to impact on the company share price potentials. Below 'red' on the chart - currently 245p - would tend to foul our optimism pretty thoroughly.