ABRDN's Revenues Rise, but No Investment in Russia for Foreseeable Future
ABRDN, formerly known as Standard Life Aberdeen, has reported a rise in revenues for the first quarter of 2022, with strong inflows from its asset management business. The company saw inflows of £3.3 billion, driven by strong performance in its active equities and private markets businesses.
The company’s total assets under management increased to £559.1 billion, up from £529.4 billion in the previous quarter. A combination of positive market movements and net inflows from clients drove the growth. This rise was driven by flows from the company’s Private Client and Asset Management businesses.
ABRDN CEO Stephen Bird stated that the company is focused on expanding its global footprint, particularly in the United States and Asia. The company has recently opened a new office in San Francisco and plans to expand its operations in Asia through strategic partnerships and acquisitions. Read full details: https://www.wsj.com/market-data/quotes/uk/xlon/ABDN
ABRDN Refrains from Investing in Russia
ABRDN has stated that it will not invest in Russia for the foreseeable future due to political and economic stability concerns. The decision was made in response to the recent military buildup near the Ukrainian border and the ongoing political tensions between Russia and the West. The company has also been affected by the Western sanctions against Russia, which have restricted it from accessing liquid foreign capital markets. The company reduced its exposure to Russia and increased its exposure to the United States in recent quarters in response to these factors.
ABRDN’s decision not to invest in Russia reflects the growing concerns among investors about the country’s geopolitical risks. Many investors have been wary of investing in Russia due to concerns about corruption, political instability, and economic sanctions.
ABRDN is a global asset management company headquartered in the United Kingdom. The company manages many assets, including equities, fixed income, real estate, and private markets. With a focus on expanding its global footprint, ABRDN is well-positioned to continue to grow and succeed in the asset management industry.