FTSE 100 OPEN: Aberdeen on top as AUM surge in 2012

Aberdeen Asset Management was the biggest riser in early trading as the firm announced net outflows of £1.4 billion for the five months to February 28.

The figure represents an £800m year-on-year rise in net outflows, with net inflows of £1.4 billion reported during the first two months of 2012.

However, Aberdeen saw assets under management rise £10.5 billion in the first two months of the year, with increased flows to higher margin products.

Martin Gilbert, chief executive of Aberdeen, says: “Performance remains strong and our disciplined investment approach means we are well placed to continue to deliver for our investors.”

The asset manager saw its share price increase by 1.5% to 253.6p (at 0803 GMT). It was joined at the top by BAE Systems, up 1.4% to 248p and Randgold Resources, increasing by 1.3% to 5,725p.

Heating and plumbing company Wolseley and real estate investor Hammerson were both up 1.3% to 2,496p and 419.3p, respectively.

Building materials company CRH was the biggest faller (at 0806 GMT), dropping 0.9% to 1,307p.

Precious metals company Polymetal International and business software group Sage both dropped 0.7% to 954p and 289.8p, respectively.

Interdealer broker ICAP and Financial Times publisher Pearson both dropped 0.3% to 416.4p and 1,215p, respectively.