abrdn exits FTSE 100 as F&C gains promotion

First time four trusts in FTSE 100

abrdn’s departure from the FTSE 100 has been confirmed following weeks of speculation.

It was made official last night (Wednesday 31 August) when the FTSE Russell announced its FTSE All Share Index Quarterly Review, which is based on Tuesday 30 August closing price. At that point, abrdn had slipped to the 118th largest listed company in the UK. Its demotion from blue-chip status to the FTSE 250 is the latest in a run of bad news for the Scottish based fund group. Nearly 18 months after its rebrand the firm's half-yearly report revealed that profits were down 18% compared to the same period last year and IFRS tax losses of £320m. In the same report, it lowered its outloo...