abrdn reports revenue increase of 6% for first time since merger in 'reset year'

Narrows outflows to post higher AUM

clock • 2 min read
Stephen Bird, CEO of abrdn, said 2021 was the firm's "reset year"

Stephen Bird, CEO of abrdn, said 2021 was the firm's "reset year"

abrdn narrowed net outflows in 2021 to £6.2bn to post a rise in assets under management, and reported a 6% increase in revenue for the first time since its merger with Standard Life.

AUM climbed 1% in 2021 to £542bn, from £535bn in 2020, which abrdn attributed to positive market movements, the impact of corporate actions and net flows. The asset manager announced fee-based revenue for the full-year 2021 of £1.5bn, up from £1.4bn in 2020, a 6% increase, while IFRS pre-tax profit rose to £1.1bn, up from £838m the previous year, in what abrdn CEO Stephen Bird called its "reset year". The increase in pre-tax profits was down to the "recognition" of the full market value of abrdn's residual stake in HDFC Asset Management and the gain on sale of the 5% stake in Septembe...

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