SINGAPORE (Oct 26):  Is Aberdeen Asset Management looking for a buyer?

According to the Financial Times, Europe’s second-largest fund house has begun to sound out potential buyers for the group as it struggles to put an end to a slump in its profitability, share price and assets under management.

People familiar with the process said Martin Gilbert, Aberdeen’s 60-year-old founder and chief executive, had made informal approaches to a number of rivals in recent months, reported FT.

Aberdeen has been hit by recent turmoil in emerging markets, where the group built its reputation and much of its investments are based.

Its share price has fallen by 25% over the past six months, and the fund house suffered net outflows of almost GBP10 billion ($21.4 billion) in the three months to the end of June, worse than analysts had expected.

Total assets stands at GBP307 billion including an 11.97% stake in City Developments and a 4.94% stake in Oversea-Chinese Banking Corporation.