Abrdn CEO, CFO, chairman buy shares after results

Bosses at Edinburgh-based investment giant Abrdn — including the CEO, CFO and chairman — have bought a total of £300,000 worth of shares in the asset manager since it announced its results on Tuesday.

Abrdn’s shares have fallen more than 20% so far this year to around £1.91 to give the firm a stock market value of about £4.3 billion.

But on Tuesday, Abrdn reported a 47% rise in 2021 adjusted operating profit to £323 million as its fee-based revenue rose 6% to £1.515 billion.

Chief financial officer Stephanie Bruce bought 40,000 shares at about £1.99 worth £79,760 on Thursday, while CEO Stephen Bird bought 50,000 shares at about £1.99 worth £99,575 on Wednesday.

On Tuesday, chairman Douglas Flint bought 10,765 shares about about £1.96 worth £21,131 and non-executive director Jonathan Asquith bought 50,865 shares at about £1.96 worth £99,924.

On Tuesday, Abrdn said net outflows fell to £6.2 billion from £29 billion in 2020.

It said assets under management and administration rose £7 billion or 1% to £542 billion “reflecting positive market movements, the impact of corporate actions and net flows.”

The Edinburgh firm said IFRS profit before tax rose to £1.115 billion from £838 million “primarily reflecting the recognition of the full market value of our residual stake in HDFC Asset Management and the gain on sale of the c5% stake in September 2021.”

Full year dividend was maintained at 14.6p.

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