Aberdeen Asset Management investors withdraw more than £40bn

Assets under management fall 12.5% to 283.7bn as investors grow nervous about China and other emerging markets

Aberdeen Asset Management's funds under management fell by more than 40bn last year as clients grew nervous about shares in China and other emerging markets that the fund manager had built its reputation on.

At the end of September, Aberdeen's assets under management were 283.7bn compared with 324.4bn a year earlier - a fall of 12.5%. Net outflows were 33.9bn and equivalent withdrawals from equity funds increased to 16.4bn from 13bn the year before.

Related: Aberdeen Asset Management shares hit by emerging market fears