Standard Life Aberdeen has been hit by outflows of more than $10bn from its mutual funds since the start of the year on concerns about performance and the group's merger, which was completed this summer, the Financial Times reports.
According to the Financial Times and Morningstar, the firm was the worst-selling fund house in the world in September. It was also the worst-selling European-headquartered firm globally in the first nine months of the year, with investors pulling $5.7bn from Standard Life and $4.5bn from Aberdeen. Redemptions from Aberdeen hit $2.7bn in September alone. Investors are understood to have pulled money from the firm as a result of disappointing performance by flagship funds such as GARS and concerns about the impact of the merger, particularly as the firm has announced plans to cut 800 ...
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