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Aberdeen Group PLC on Wednesday reported a continued improvement in results in the third quarter, as the Edinburgh-based asset manager continues its turnaround effort under a new chief executive. Aberdeen said assets under management and administration totalled £542.4 billion on September 30, up from £517.6 billion on June 30 and £511.4 billion on December 31. This was thanks to positive market performance and reduced net outflows. Net outflows were £500 million in the third quarter, improved from £3.1 billion a year before. For the first nine months of 2025 as a whole, net outflows were £1.4 billion, improved from £2.3 billion in the same period of 2024. ‘Over the last quarter we have made good progress against the plan we set out in March,’ said Chief Executive Officer Jason Windsor. ‘Net flows and other key operational metrics improved year-on-year, with increased group AuMA benefiting from positive markets.’ Windsor took over from Stephen Bird last year, changing the name of the company back to Aberdeen after a much-ridiculed interregnum as ’abrdn’, a period that also saw huge net outflows of funds. Aberdeen’s retail wealth platform, interactive investor, was the star performer in both the third quarter and the year to date. ii saw £1.9 billion in net inflows in the third quarter, up from £1.2 billion a year before, and £5.9 billion in the first nine months, up from £4.3 billion. Insurance Partners again had the worst performance, with £1.1 billion in net outflows in the third quarter, unchanged on year, and £5.6 billion in the first nine months, worsened from £2.5 billion a year before. The outflows in the Insurance Partners business primarily are due to the run-off of Aberdeen’s contract with Phoenix Group Holdings PLC. In September, Phoenix said a further £20 billion in AuM will be in-sourced, subject to a three-year notice period with Aberdeen. ‘We are working with Phoenix to manage this transition collaboratively in the medium- term, and continue to have a strong relationship as their key asset management strategic partner,’ Aberdeen said on Wednesday. ‘As Phoenix have indicated, we have the potential to attract a greater share of their policyholder business as they consolidate their asset manager partners.’ Looking ahead, Aberdeen said it is confident in hitting its 2026 target of £300 million in adjusted operating profit, saying it is on track to make £150 million in annualised cost saving by the end of 2025. The guided result for next year would be up 18% from £255 million in adjusted operating profit in 2024. Aberdeen shares were up 0.2% at 201.80 pence on Wednesday morning in London. The stock is up 21% over the past 12 months. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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