The investment industry is facing headwinds, as investors turn their backs on active equity and bond managers in favour of multi-asset, passive and cash products. But Aberdeen Asset Management is under greater pressure than most.

The group is expected to confirm it suffered net outflows of £30 billion, or more, over the 12 months to September 30, following the loss of £10 billion in its final quarter, when it reports its year-end results on November 30.