Abrdn suffered an embarrassing blow when it was dumped from the UK’s FTSE 100 index — the result of plunge in market value after dropping in share price more than 70% over the past five years.

The demotion comes after a difficult period for the £508bn Edinburgh-based asset manager, which posted a £320m loss for the first six months of 2022 and a net outflows of almost £36bn — the majority of which was pulled by Lloyds Banking Group. But it is not just Abrdn’s market value that has been shrinking.