Gilbert Warns of Headwinds Facing Asset Managers

Bloomberg Video

Nov.28 -- Aberdeen Asset Management Plc rose the most in seven weeks after saying it would maintain its dividend even though net outflows totaled 7.2 billion pounds ($9 billion) in its fiscal fourth quarter. Assets under management increased by 10 percent to 312.1 billion pounds in the 12 months through September, boosted by a weaker pound, even after 32.8 billion pounds of outflows over the period, the firm said Monday. Investors have fled emerging-markets assets, where Aberdeen is focused, on concern that President-elect Donald Trump will pursue inflationary policies that will force the Federal Reserve to become more aggressive in raising interest rates. Aberdeen had started to see some investors return to emerging-market assets before the election, following an extended period of outflows triggered by a slowdown in China and a slump in the oil price. CEO/Co-Founder Martin Gilbert discusses with Francine Lacqua on "Bloomberg Surveillance."