Abrdn AUM rises 3% in first quarter as flows rebound
Investment manager Abrdn recorded net inflows of £800m in the first quarter of the year, driven by stronger markets.
Abrdn
158.30p
16:45 10/05/24
3.03%
4.65p
Financial Services
14,431.33
17:09 10/05/24
-0.21%
-30.72
FTSE 250
20,645.38
16:30 10/05/24
n/a
n/a
FTSE 350
4,634.75
17:09 10/05/24
n/a
n/a
FTSE All-Share
4,586.29
16:50 10/05/24
n/a
n/a
Assets under management were up 0.8% year on year to £507bn. The inflow figure compares with a £6.2bn outflow in the same period last year.
Abrdn’s interactive investor business reported £1.2bn of new cash, but the adviser business saw net outflows of £900m for the quarter.
Reporting by Frank Prenesti for Sharecast.com