Aberdeen’s interactive investor inflows fail to offset withdrawals elsewhere

Aberdeen Group ($ABDN) reported assets under management and administration of £578.9 billion, 4% above the previous year-end but slightly below £579.4 billion at the half-year. The group experienced a £300 million net outflow during the quarter. Interactive investor attracted £2.5 billion of net inflows, up 32%, and increased its customer base by 8% to approximately 533,000.

Those gains were offset by £700 million of outflows from the Adviser business and £2 billion from Investments. The contrasting flows show the growing importance of the direct investment platform without establishing that the wider group has resolved its retention challenges. Aberdeen reaffirmed expectations for full-year adjusted operating profit of at least £300 million and net capital generation of around £300 million. Asset totals are influenced by market movements as well as flows and are not themselves revenue or profit.

Sources:

• Aberdeen Group — RNS trading update reproduced by London South East
• RNS reproduction — Investegate