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Abrdn swings to £320m loss after brutal first half

Asset managers continue to take a hammering amid tough investing conditions

The results reflect a 'challenging global economic environment and market turbulence,' CEO Stephen Bird says
The results reflect a 'challenging global economic environment and market turbulence,' CEO Stephen Bird says Photo: Hollie Adams/Getty Images

Abrdn, the FTSE 100 listed asset manager, posted a £320m loss for the first six months of the year, following a brutal period which saw it bleed almost £36bn in assets.

The Edinburgh-headquartered firm recorded a 28% drop in adjusted operating profit to £115m for the first six months of the year, down from £160m for the same period in 2021.

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