Abrdn bets on 'improved' distribution strategy, reports £2bn outflows

The half-year results, which were published today (6 August), highlighted a 7% decline in operating revenue to £667m from £721m reported the same period the prior year. Abrdn's assets under management and administration saw an increase of 2%, reaching £505.9bn, up from £494.9bn in the previous year. The adviser segment reported increased adjusted operating profit by 33% to £65m, up from £49m in the first half of 2023, while net outflows soared to £2bn, compared to £600m previously. Gross inflows rose by 7% to £3.1bn, but the net outflows reflected higher-than-expected redemptions. ...