Profits drop 62% across abrdn investment arm as performance slides further

Three-year outperformance dwindles

James Baxter-Derrington
clock • 3 min read

Adjusted operating profits fell 62% to £50m across abrdn’s investment arm, despite cost reductions of £102m over full-year 2023.

A 17% reduction in revenues contributed to this drop, along with a considerable drop in investment performance, which weakened to 42% of assets under management performing above benchmark on a three-year basis, down from 65% in 2022, according to the firm's full year results. Net outflows tempered on the previous year but still represented 4% of opening AUM, with £19bn exiting the investment business, compared with £41bn in 2022. abrdn takes 60% haircut on Virgin Money stake as bank assumes full ownership of investment venture Over the coming year, abrdn intends to achieve further ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Companies