Standard Life Aberdeen Q1 assets up on market moves, deals

Credit: REUTERS/RUSSELL CHEYNE

British asset manager Standard Life Aberdeen posted a 3% rise in first-quarter assets on Tuesday as market gains and assets linked to recent deals more than offset currency losses and outflows from some funds.

By Simon Jessop

LONDON, May 14 (Reuters) - British asset manager Standard Life Aberdeen SLA.L posted a 3% rise in first-quarter assets on Tuesday as market gains and assets linked to recent deals more than offset currency losses and outflows from some funds.

Standard Life Aberdeen, Britain's second-biggest listed asset manager by market capitalisation, has suffered months of net outflows of client cash and in March announced a series of board changes to shake up its leadership structure.

While SLA said assets managed on behalf of institutional, insurance and retail clients had all risen in the latest quarter, it continued to see outflows from "a small number of strategies", without giving details on group net flows.

Total assets under management and administration at the end of March were 568.9 billion pounds ($737.12 billion), up from 551.5 billion pounds at the end of December.

SLA said assets were boosted by 3.5 billion pounds from Virgin Money, with which it plans a joint venture, and 700 million pounds through the acquisition of Asia-based real estate manager Orion Partners.

SLA is due to host its annual shareholder meeting on Tuesday.

($1 = 0.7718 pounds)

(Reporting by Simon Jessop, editing by Sinead Cruise)

((simon.jessop@thomsonreuters.com; +44 (0) 207 542 5052; Reuters Messaging: Reuters Messaging: simon.jessop.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More