Aberdeen Asset Management kicked out of FTSE 100

Aberdeen Gilbert Martin Gilbert 700x450The London Stock Exchange’s quarterly review has seen Aberdeen Asset Management relegated into the FTSE 250 following continued share price erosion.

BlackRock took a short position in competitor Aberdeen last month amid speculation the Scotland-headquartered asset manager – the third biggest in Europe – would fall out of the FTSE 100.

This year £3.7bn has been stripped from Aberdeen’s share value for a multitude of reasons including overexposure to emerging markets, fears over a hard landing in China, declining oil price and concerns over US monetary policy.

Aberdeen’s reliance on emerging markets saw it report a £9.1bn net outflown in January over the final quarter of 2015.

Other asset managers reported to have shorted the stock include Odey Asset Management and AQR.