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

Narrows outflows to post higher AUM

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...