Assets under management at Aberdeen Asset Management fell $9bn over July and August, but the Scottish manager beat bearish forecasts from analysts and reassured shareholders that the manager was on course for a profitable year.

The fall in assets beat analyst expectations and Aberdeen Asset Management expects profits for 2011 to be at the top end of market expectations after assets under management fell just 4.8% over July and August, from £185.8bn to £176.9bn, according to a scheduled financial statement issued this morning.