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Stock impact report

Standard Life Aberdeen first-half assets up 5% as market gains offset outflows [Reuters (UK)]

ABRDN PLC UNSP ADR (SLFPY) 
Company Research Source: Reuters
Standard Life Aberdeen first-half assets up 5% as market gains offset outflows - Reuters 2 Min Read LONDON (Reuters) - British asset manager Standard Life Aberdeen ( SLA.L ) on Wednesday posted a 5% rise in first-half assets under management and administration as market gains more than offset continued net outflows of client cash. Total assets at the end of the period were 577.5 billion pounds, up from 551.5 billion at the end of December. Positive market moves added 41.2 billion pounds, against net outflows of 15.9 billion pounds. The exit of clients from higher-margin products such as its Global Absolute Return Strategies, crimped revenues, however, with fee-based income during the period down to 815 million pounds from 966 million a year earlier. The outflows followed a pattern set earlier in the reporting season by sector rivals including Schroders ( SDR.L ), Jupiter Fund Management ( JUP.L ), Amundi ( AMUN.PA ) and Man Group ( EMG.L ). A reduction in operating expenses Show less Read more
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