Outflows have slowed down at Aberdeen Asset Management, with the UK-listed firm reporting net redemptions of £800 million ($1.28 billion) for the fourth quarter of 2010, compared to £2.6 billion for the same period a year before. Assets under management rose over the period.

Aberdeen said it had garnered £12.3 billion of gross new business for the last quarter, up from £9.7 billion a year previously; it also won £2.1 billion of new mandates which had not yet been funded by 31 December 2010.

The firm’s assets under management totalled £183.3 billion at the end of 2010, rising 2.6 per cent from £178.7 billion at the end of the prior quarter. The £5.4 billion rise was attributed to market appreciation, performance and FX effects.

Martin Gilbert, Aberdeen’s chief executive, lauded the quarter as a “solid” one and highlighted in particular a slowdown in outflows from its fixed income business.

“Investment performance remains healthy across each of our primary asset classes. Equities in particular have posted robust returns, while our fixed income teams have strongly outperformed industry benchmarks,” he said.