abrdn suffered £3.1bn net outflows in the third quarter, pushing its shares down 8% despite assurances by new CEO Jason Windsor that the firm's ‘transformation programme’ remains "on track”.
In its quarterly trading update today (24 October), the firm reported £3.5bn in net outflows from its investment arm, bringing the year-to-date total for the division to £4.5bn — a significant drop from the £13.5bn withdrawn by investors during the same period last year. The FTSE 250 asset manager said outflows were primarily driven by equities, which remain impacted by "challenging conditions" for flows in Asia and emerging markets, along with a shift towards passive and quantitative strategies. Investors pulled a net £2.4bn from the firm's equities strategies during the quarter, off...
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