Positive market movements have helped push abrdn’s assets under management and administration over the £500bn mark, as net flows turned positive for the first time since last summer.
According to the firm's Q1 AUMA and trading update, total assets at the firm rose 3% to £507.7bn at 31 March 2024, largely driven by market performance, with net inflows accounting for 6% of the total rise. Across the group, net inflows of around £800m were a marked improvement on the £5.7bn and £6.7bn net outflows from the previous two quarters, respectively. abrdn takes 60% haircut on Virgin Money stake as bank assumes full ownership of investment venture Despite this, the firm's adviser arm still suffered net outflows for the period, down around £900m, while the investments bus...
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