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
156.60p
16:44 14/05/24
0.93%
1.45p
Financial Services
14,287.07
17:09 14/05/24
-0.56%
-79.80
FTSE 250
20,618.52
17:09 14/05/24
n/a
n/a
FTSE 350
4,631.25
17:09 14/05/24
n/a
n/a
FTSE All-Share
4,583.23
17:14 14/05/24
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