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Aberdeen says Q2 assets up on market, currency gains

British fund manager Aberdeen Asset Management posted a second quarter rise in assets under management (AuM) on Monday, boosted by gains in the value of its investments and positive currency moves after Britain's vote to leave the European Union.

The firm said total assets under management in the three months to end-June were 301.4 billion pounds ($395.83 billion), up from 292.8 billion at the end of March.

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While the firm had suffered net outflows of 8.9 billion pounds during the quarter, this was more than offset by a 9 billion pound rise in the value of its assets and 8.5 billion pounds gain from positive exchange rate movements.

"The last week of June saw considerable market volatility as investors reacted to the result of the U.K. referendum on EU membership, with initial weakness in the days after the vote then overtaken by a strong recovery which has continued into July," the firm said.

"The weakening of sterling against most major currencies, aided by resilient markets and good investment performance, has contributed to the increased value of our AuM."

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