Equity market recovery boosts Aberdeen A recovery in the equity markets has helped Aberdeen Asset Management overcome subdued investor appetite for more risk and report full-year increases in revenues, pre-tax profit and assets under management. The Scottish group on Monday reported a 10 per cent rise in assets under management to £187.2bn compared with the same period last year, buoyed by demand for its higher-margin products, as well as a recovery in the equity markets. However, new client funds of £36bn - down from £43bn last year - were offset by £36bn of outflows. This has been a difficult and uncertain year in the financial markets. We have been rewarded by continuing strong interest in our funds and significant growth in assets under management," said Martin Gilbert, Aberdeen chief executive. Aberdeen shares have risen more than 85 per cent over the past year, which buoyed its market capitalisation to more than £4bn and pushed the group into the FTSE 100 index for the first time in its 29-year history. In the 12 months to September 30, net revenues rose from £784m to £869.2m, while pre-tax profit increased from £224.1m to £269.7m. Diluted earnings per share rose from 14.06p to 17.55p. A final dividend of 7.1p was proposed, bringing the total payout for the year to 11.5p, up from 9p in 2011. The solid results are in contrast to a year ago, when the tumultuous market conditions and a raft of client withdrawals forced the group to disclose a greater-than-expected near-£9bn drop in funds under management - a fall that knocked £4m from the group's results. Aberdeen, which manages just over $4bn in hedge fund assets, recently suggested that it would aim to more than double the size of its fund of hedge funds business to $10bn within a few years. Aberdeen shares rose 2.8 per cent to 352p in early trading.