Standard Life Aberdeen saw net outflows slow to £31bn during 2017, less than the £37bn seen in 2016, while it has sold off its insurance business to Phoenix Group to focus on being a "global investment powerhouse".
In its full-year results for 2017, outflows for its Aberdeen Standard Investments arm were £22.1bn, down from £26bn at the end of 2016, while net outflows from equity products reduced from £13.9bn to £8.2bn. In the year that saw the group complete its merger of Aberdeen Asset Management and Standard Life Investments, absolute return fund SLI Global Absolute Return Strategies (GARS), which has been steadily losing assets following poor performance, saw outflows of £10.7bn, up from £4.3bn in 2016. Aberdeen Standard Investments sees wholesale outflows half; Integration making 'good progr...
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