A further slowing in fixed-income redemptions helped Aberdeen Asset Management record a £600m net inflow of funds in July and August. What's more, revenue margins on inflows continues to be higher than on the outflows, which will help to increase fee income. And the subsequent boost in profits means the investment manager has been able to repay all bank debt from its operating cash flow.
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Net new business flows for the nine months to the end of June saw £1.2bn of redemptions on the fixed income side more than offset by £2.1bn equity inflows, leaving assets under management at £164.5bn. And by the end of August this had improved further to £168.8bn.