Abrdn assets up to £511bn; interactive investor ‘strong’

Abrdn CEO Jason Windsor

Edinburgh investment giant Abrdn said on Tuesday its assets under management and administration (AUMA) rose 3% in 2024 to £511 billion, with a 1% increase in Q4 “reflecting positive markets and a net inflow in Investments and interactive investor.”

In a Q4 2024 assets and flows trading update, Abrdn said its interactive investor business delivered continued strong growth, with net inflow in FY 2024 almost doubling to £5.7 billion.

Q4 net inflow in Investments of £0.5bn driven by alternatives, quantitative strategies and liquidity. Institutional & Retail Wealth returned to a net inflow of £0.3bn in FY 2024 (FY 2023: £(17.9)bn) …” said Abrdn.

“Adviser AUMA up 2% in 2024, with outflow of £3.9bn in FY 2024 offset by positive markets …

“interactive investor delivering continued strong growth, with net inflow in FY 2024 almost doubling to £5.7bn (FY 2023: £2.9bn), AUMA up 17% and customers up 8% to 439k …

“Good progress in transformation: FY 2024 adjusted operating expenses below £1,075m, in line with guidance; annualised run rate savings in excess of £100m achieved; on track to deliver target of at least £150m of annualised savings by the end of 2025 …

“FY 2024 adjusted operating profit expected to be in line with current market expectations, providing a solid base from which to grow …”

Abrdn CEO Jason Windsor said: “We made significant progress in 2024, exceeding our cost transformation targets and also laying the foundations for the new management team to achieve growth and efficiency as we enter 2025.

“Investments returned to inflow in the quarter, and while there remain challenges to overcome, it was pleasing to see our Institutional & Retail Wealth segment report £2.3bn of positive flow in Q4.

“interactive investor, which achieved the number 1 position in UK D2C net flows, performed very strongly throughout 2024, and we expect continuation of its growth this year.  

“Outflows in Adviser are being addressed, with an absolute focus on an improved service and value proposition for our clients. 

“I look forward to providing further information on our performance and strategy with the Full year results on 4 March.”