In the image of its British counterparts, Aberdeen did not escape the decline in investor appetite for risk in March, against the backdrop of the Middle East conflict: “We continued to implement our strategy in the first quarter, despite a context marked by increased geopolitical and stock market uncertainty,” said Jason Windsor, CEO.
In a press release published on April 22, the British asset manager revealed assets under management and administration of £547.7 billion at the end of March 2026, compared to £556 billion at the end of 2025.
This decrease in assets under management is justified by unfavorable market movements due to the geopolitical context (£4.3 billion) and a net outflow for asset management activities amounting to £2.9 billion. The net outflows were particularly concentrated in the Institutional & Retail Wealth division with £4.6 billion in withdrawals.
Important flows expected
Low-margin equities were the most penalized with £4 billion in asset losses, while fixed income securities and real estate assets each garnered £300 million and £100 million in net subscriptions, respectively.
On the other hand, the Scottish-based asset management company is positive about the flows in the second quarter with the acquisition of two new mandates. The first is an advisory mandate of around £1.2 billion in real assets and the second focuses on credit for £1 billion.
Aberdeen also expects significant flows towards its equity fund linked to emerging markets throughout the year. However, assets under management for the segment decreased from £390.4 billion to £383.4 billion sterling in the first quarter.
New CEO
In other divisions, the asset manager is satisfied with the performance of its online investment platform Interactive investor. It amassed £3 billion while increasing its total number of clients by 14% over the year.
For its advisory business, the company recorded £600 million in net outflows. In March, the appointment of Rich Denning as CEO of the division was announced. With his assuming office in May, he will be responsible for improving segment growth and service. To achieve this, the company continues to bring service teams in-house to streamline the customer experience.
In its publication, Aberdeen is “firmly committed” to achieving its objectives for the fiscal year 2026. The management company still aims for an adjusted operating income of at least £300 million and a net capital generation of around £300 million.
Having exceeded the goals of its transformation plan launched in early 2024, the Scottish asset manager is positive about the momentum of the Interactive investor platform and “structural tailwinds in the British wealth management market.” Aberdeen also estimates that its assets under management and administration now amount to £573 billion at the close of the market on April 17th. This significant increase is attributed to the recovery of the financial markets.
Bastien Boname
