Aberdeen Group plc (LSE:ABDN) has reported a 4% increase in assets under management and administration (AUMA) to £578.9 billion in its third-quarter 2026 trading update, supported by market movements, acquisitions and inflows at its interactive investor platform.
The UK asset and wealth management group maintained its full-year guidance for adjusted operating profit of at least £300 million and net capital generation of approximately £300 million, despite continued outflows in parts of its adviser and investment management operations.
Overall net flows remained slightly negative during the quarter, with inflows across several investment categories offset by withdrawals from equity strategies, adviser services and legacy insurance-related assets.
Interactive investor recorded net inflows of £2.5 billion during the third quarter, bringing total inflows for the first nine months of 2026 to £9.3 billion.
The direct-to-consumer investment platform increased its customer base by 8% to 533,000, while the number of self-invested personal pension (SIPP) customers rose by 34%.
Aberdeen also reported increased trading activity at interactive investor, alongside the introduction of services including ii Advice and the ii360 trading platform.
The group’s Adviser business reported a 5% increase in assets to £84.5 billion, supported by market movements. However, the division recorded net outflows of £0.7 billion during the quarter.
Management acknowledged that the return to positive net flows in the Adviser division is taking longer than previously anticipated.
During the period, Aberdeen completed the transfer of service teams to internal management and made leadership changes intended to support its operations and relationships with independent financial advisers.
Within the Investments division, total assets under management increased to £393.2 billion, reflecting market gains and acquisitions, including Herald Investment Trust and MFS closed-end funds.
Institutional & Retail Wealth recorded net inflows of £1.0 billion, excluding liquidity products, with demand concentrated in fixed income, real assets and alternative investments.
The company reported inflows associated with Border to Coast and rail infrastructure investments, alongside demand for commodity and precious metal exchange-traded funds.
Equity investment strategies continued to experience net redemptions, although Aberdeen identified demand for certain global emerging markets income products.
The Insurance Partners business remained affected by the ongoing run-off of Standard Life’s legacy insurance portfolio, which continued to contribute to net outflows.
Separately, Aberdeen announced the sale of approximately half of its equity holding in Standard Life, generating proceeds of around £430 million.
The company said the proceeds would be allocated in accordance with its capital management framework, which includes investment in existing operations, maintaining balance sheet capacity, reducing debt and providing shareholder returns.
As part of its debt management activities, Aberdeen plans to redeem £210 million of Additional Tier 1 capital instruments at their first call date in December 2026.
The planned redemption follows the group’s broader approach to managing its capital structure and financial obligations.
Aberdeen operates across retail investment platforms, financial adviser services and institutional asset management, with investment capabilities spanning equities, fixed income, real assets and alternative strategies.
Looking ahead, management expects continued development of its retail investment and institutional businesses while addressing net outflows in the Adviser division and certain investment strategies.
The group reaffirmed its FY2026 targets of at least £300 million in adjusted operating profit and approximately £300 million in net capital generation, with the third-quarter update reflecting growth in total assets alongside differing flow trends across its operating divisions.
Leave a Reply