Aberdeen Asset Management dumped out of FTSE 100

The news from the London Stock Exchange’s quarterly review follows competitor BlackRock’s short position in Aberdeen taken last month amid speculation the Scotland-headquartered asset manager – the third biggest in Europe – would drop out of the FTSE 100.

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

This year £3.7bn has been stripped from Aberdeen’s share value as the effects of overexposure to emerging markets, fears over a hard landing in China, declining oil price and concerns over US monetary policy continued to hurt the wealth manager.

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