abrdn is back in the black after recording better than expected profits and an improved flows picture in the first half of the year, as the search for a new chief executive officer continues.
In its half-year results published today (6 August), the FTSE 250 asset manager reported adjusted pre-tax profits of £187m, ahead of analyst consensus of £162m. This compares to a £169m pre-tax loss reported in the same period last year. Total net outflows slowed from £4.4bn a year earlier to £1.6bn. Including liquidity products, the firm returned to positive territory with £800m net inflows, compared to £5.2bn net outflows in the first half of last year. abrdn: The journey from Europe's second-largest fund manager to the FTSE 250 abrdn's investments arm suffered £3.4bn net outflow...
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