MutualFundWire.com: This Multinational Asset Manager Does Not Want to Be Sold

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Thursday, November 19, 2015

This Multinational Asset Manager Does Not Want to Be Sold

The chief of a multinational, Europe-based asset manager with a U.S. mutual fund business continues to publicly fight talk of a sale.

Martin Gilbert
Aberdeen Asset Management
Founder, Chief Executive Officer

Martin Gilbert, founder and CEO of Scotland-based Aberdeen Asset Management [profile], tells Bloomberg Television that the publicly-traded asset manager is not on the block. Barron's also picked up on the news.

"We don't want to be sold," Gilbert said yesterday in the Bloomberg interview. "It's a great advantage being an independent asset manager."

Last month reports surfaced that Gilbert had been having informal deal discussions with rivals. Aberdeen immediately fought back against the story, yet mister market liked it: thanks to volatility in emerging markets (Aberdeen's specialty) and outflows, Aberdeen's AUM and share price have both fallen significantly in 2015, yet when the deal story broke Aberdeen's shares rose nearly three percent even as the broader market dipped.

Printed from: MFWire.com/story.asp?s=53007

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