abrdn confirms plans to merge or close 100 funds

‘Subscale, inefficient or not aligned’

clock • 2 min read

abrdn is merging or shuttering 100 funds in a move to save on costs, the Scottish investment house confirmed to Investment Week, as AUM at its asset management arm declined 17% in the first half of 2022.

A spokesperson said: "We have now reviewed around 550 funds and concluded that 20% with an AUM of approximately £7bn were subscale, inefficient or not aligned with our core strengths." abrdn confirmed the funds in question would merge or close and that the move would result in "simplified fund ranges across UK and Luxembourg domiciled funds". It also said that the closures and mergers would remove any duplication and simplify its product offering and free up resources. abrdn set to offload private equity business - reports  "This programme of work will continue through the secon...

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
member?

Login

More on Companies

Microsoft and Meta shares dip as results fail to meet investors' expectations on AI delivery

Microsoft and Meta shares dip as results fail to meet investors' expectations on AI delivery

S&P 500 and Nasdaq both fell

Sorin-Andrei Dojan
clock 31 October 2024 • 3 min read
Columbia Threadneedle merges UK small-cap unit into European smaller-cap team

Columbia Threadneedle merges UK small-cap unit into European smaller-cap team

Catherine Stanley and Gordon Happell leave

Sorin-Andrei Dojan
clock 31 October 2024 • 1 min read
Odey Wealth Management files for voluntary liquidation

Odey Wealth Management files for voluntary liquidation

Evelyn Partners appointed as liquidator

Cristian Angeloni
clock 28 October 2024 • 1 min read
Trustpilot