UK's Aberdeen posts Q3 net outflows as client withdrawals weigh, shares slip (updated)

Aberdeen

Yesterday 08:52

Adds details from trading statement and share movement in the Overview section
Overview
The UK asset manager's total Q3 net outflows rose q-on-q to £300 million ($401.3 million), driven by client withdrawals in its adviser and investments businesses
Shares of the FTSE 100 firm fell 3.3% in early trade
The company says returning to net inflows in the adviser business is taking longer than anticipated
UK asset manager's Q3 AUMA rose 4% yr/yr to £578.9bln, driven by markets and acquisitions
Interactive investor platform saw Q3 net inflows up 32% yr/yr and customer growth
Company sold half its stake in Standard Life for about £430mln

Outlook
Aberdeen Group targets FY 2026 adj operating profit of at least £300 mln
Company expects FY 2026 net capital generation of around £300 mln
Aberdeen Group to redeem £210 mln of AT1 debt in December 2026

Result Drivers
INTERACTIVE INVESTOR INFLOWS - Co said strong net inflows and customer growth at interactive investor drove results
MARKET GAINS & ACQUISITIONS - Co attributed AUMA growth to positive markets and acquisitions
INVESTMENT INFLOWS - Net inflows in fixed income, real assets and alternatives supported results

Company press release: ID:nRSU7458Za

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 AUMA
 
GBP 578.90 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 6 "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Aberdeen Group PLC is GBp240.00, about 2.1% above its October 20 closing price of GBp235.00
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

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Oct 19 - UK risks becoming 'AI customer' rather than creator, advisers warn

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


($1 = 0.7476 pounds)

 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)