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
155.20p
16:40 03/05/24
3.71%
5.55p
Financial Services
14,418.79
16:54 03/05/24
1.19%
169.43
FTSE 250
20,164.54
17:00 03/05/24
n/a
n/a
FTSE 350
4,515.50
16:54 03/05/24
n/a
n/a
FTSE All-Share
4,469.09
17:14 03/05/24
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