Abrdn falls to pretax loss as market turmoil weighs

Abrdn's assets under management fell 8% to 500 billion pounds from 542 billion pounds, while the company reported a further year of net outflows of client funds.

Abrdn announced a 14.6 pence per share full-year dividend for investors, broadly in line with analyst forecasts. The sale involves the transfer of around 6.1 billion pounds of assets and about 140 employees, the company said. The company, which was once known as Standard Life Aberdeen, was formed through the merger of Aberdeen and Standard Life in 2017.demonstrated its appeal among retirement savers and investors, posting net inflows of 9.8 billion pounds in 2022 and funds under management of 148.4 billion pounds, down from 154 billion pounds in 2021.

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Abrdn swings to pretax loss as markets turmoil weighsBritish asset manager abrdn fell to a full-year pretax loss and reported a slide in client funds for 2022, as global markets turmoil and runaway inflation weighed on its finances. The calm before the storm. The main storm is forming.
Source: Reuters - 🏆 2. / 97 Read more »