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Fund manager Aberdeen Asset Management provided a robust performance in the first nine months of its financial year and, while assets under management have fallen by 3.6 per cent since March to £164.7bn, much of this was due to falling equity markets. What's more, most of the funds outflow occurred in the lower-margin fixed-income and money market asset classes, whereas pooled funds, which generate higher profit margins, turned a £100m net outflow in the first nine months of last year into a net inflow of £3.9bn this year. Broker KBC Peel Hunt now forecasts adjusted full-year pre-tax profits of £193m and EPS of 12p (£85m and 6.3p in 2009).
