Aberdeen Asset Management, the London-listed fund management group, said it reported a pre-tax profit for the year ended 30 September of £85.1 million ($141 million), down from £95.1 million a year before.

Assets under management rose to £146.2 billion from £111.1 billion in 2008, the firm said in a statement. It logged £19.1 billion in new business wins, funded in the year, with £3.6 billion awarded but not funded at the year-end.

Aberdeen said the UK asset management business it had bought from Credit Suisse last year had been fully integrated into its group.

“Our gross new business wins were healthy by year end, especially from our equity capability, while net outflows slowed significantly from the first half. The cost reductions made, the more stable market conditions and the Credit Suisse transaction earlier this year will all help position us well for the coming year,” Martin Gilbert, Aberdeen’s chief executive, said in a statement.

Revenue for the year of £421.9 million was 2 per cent lower than in 2008 as the effects of weak markets in the earlier part of the year have been offset by the additional revenue introduced by the Credit Suisse transaction, the firm said in its statement.

Operating costs were 2 per cent lower year-on-year. The Credit Suisse acquisition added about £11 million to operating costs for the period from completion of the transaction; the integration of this business into the wider Group has now been completed in line with the timetable, Aberdeen said.