News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Asset Management

Shares drop at Standard Life Aberdeen as investors pull £16bn

Flagship GARS fund loses another £6bn and equities outflows are worse, but assets buoyed by market gains

Keith Skeoch, chief executive of Standard Life Aberdeen
Keith Skeoch, chief executive of Standard Life Aberdeen Photo: Getty Images

Standard Life Aberdeen’s share price dropped by as much as 6% this morning after the UK-listed asset manager reported a drop in profits and continued outflows from its business.

The Edinburgh-headquartered investment manager announced on August 7 that assets under management had risen by 5% during the first six months of the year, but added investors pulled £15.9bn from its funds.

WSJ Logo