Market volatility sees Aberdeen Group AUMA dip – Daily Business

Aberdeen Group has seen a dip in assets under management to £500.1 billion to the end of March from £511.4bn at the turn of the year as a result of market volatility.

Strong inflows in its DIY business interactive investor of £1.6bn were offset by net outflows in its Investments (£6.4bn) and Adviser (£0.6bn) divisions.

Chief executive Jason Windsor said: “Our strategy is to become the UK’s leading wealth business and to reposition our Investments business to areas of strength and market growth.

“So far this year, we have made good progress against these objectives, despite the current heightened levels of market uncertainty.

“interactive investor has seen significant growth in new customers, and in trading volumes, which have risen to record levels during the recent period of market volatility.

“In Adviser, net outflows improved in Q1, and while there remains work to be done, we are encouraged by the business’s progress, most notably in meeting or exceeding client service targets.

“In Investments, Q1 flows were impacted by the large redemption we noted at our Full Year results. We saw good inflows in fixed income in the quarter, but outflows in equities remained elevated.

“A major quant win in April has taken I&RW net flows to positive in the year to date. With clear strategic priorities and an ongoing focus on efficiency, we continue to target a material uplift in profitability.”

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