1st May 2025 06:58
Aberdeen Group PLC - Edinburgh-based asset manager - Assets under management decline by 2.2% to GBP500.1 billion as of March 31 from GBP511.4 billion on December 31, as Aberdeen suffers GBP5.2 billion in net outflows in the first quarter, compared to GBP800 million in net inflows a year before. The outflows are concentrated in Institutional & Retail Wealth at GBP4.1 billion, while the Insurance Partners area has GBP2.3 billion in net outflows. Aberdeen says a previously disclosed GBP4.2 billion redemption of a low-margin investment mandate was the main cause of the net outflows. They are partly offset by GBP1.6 billion in net inflows for the interactive investor retail platform.
Looking ahead, Aberdeen said it remains committed to its 2026 target of GBP300 million in adjusted operating profit, supported by GBP150 million in annualised cost saving by the end of 2025. This would be up 18% from GBP255 million in adjusted operating profit in 2024.
Current stock price: 146.80 pence
12-month change: up 0.4%
By Tom Waite, Alliance News editor
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