Aberdeen Sees £2.9 Billion Outflows as Volatility Jolts Markets

Aberdeen Group Plc reported another quarter of net outflows as volatility sparked by the US-Iran war rippled across global markets.

Clients pulled a net £2.9 billion ($3.9 billion) in the first three months of the year, compared with £2.5 billion in the previous quarter, according to a statement Wednesday. The firm’s asset management unit was hit by previously announced redemptions of £4 billion in lower-margin equities as well as “adverse market movements,” partly offset by net inflows into fixed income, Aberdeen said.