Abrdn Share Discussion Threads

[bbd2] 07/8/2024 08:55

Confused. The issuer is DiscoverIE. Have they changed the format of the form?

[mister md] 07/8/2024 08:55

Rest of portfolio on the up, abdn going in the opposite direction ...

[gaygay3] 07/8/2024 08:53

Markets not impressed with results

[cwa1] 07/8/2024 08:43

I doubt VERY much that ABDN decreasing their holding in a relatively small company will have much effect on them!

[bbd2] 07/8/2024 08:32

16.50 RNS Redhill

[prokartace] 07/8/2024 08:32

What a stunning performance we have

[cwa1] 07/8/2024 08:06

Times article:-

Abrdn laments ‘sunk cost’ of £1.49bn deal for Interactive Investor
Jason Windsor, the interim chief executive, has admitted that his predecessor paid a high price for the DIY investment platform
new
Patrick Hosking, Financial Editor
Tuesday August 06 2024, 5.45pm BST, The Times
Abrdn reported net inflows of £800 million in the six months to June, a reversal from the net outflows of £5.2 billion posted last time
Abrdn reported net inflows of £800 million in the six months to June, a reversal from the net outflows of £5.2 billion posted last time
ALAMY
Abrdn’s former chief executive Stephen Bird paid “a high price” when he forked out £1.49 billion in cash for Interactive Investor in 2021, his interim successor Jason Windsor has said.
Windsor said on Tuesday that the DIY investment platform for retail investors was doing well, but conceded the purchase price — which was equivalent to 40 times profits — had been full.
“It probably was a high price at the time,” he said, “but that’s history. It’s a sunk cost.”
Stephen Bird, who left Abrdn in May, said the Interactive Investor was “transformational”
Stephen Bird, who left Abrdn in May, said the Interactive Investor was “transformational”
JOSHUA BRATT FOR THE TIMES
The focus on Interactive comes amid speculation over whether its bigger rival Hargreaves Lansdown will agree a £5.4 billion takeover offer from a CVC-led private equity consortium, which values Hargreaves at a more modest 17 times profits. The two sides have provisionally agreed a price and have until Friday to strike a deal under takeover rules.
Bird, who left in May, hailed the Interactive deal at the time as “transformational” for Abrdn, giving it access to 400,000 retail investors and a promising third division capable of strong growth.
He had to pay a high price, it was argued, because Barclays was interested in buying the platform, while Interactive’s owner, the private equity group JC Flowers, was also considering a possible flotation.
Windsor, who arrived last year and is interim chief executive, was commenting after announcing early signs of a recovery in profitability at Abrdn, formerly Standard Life Aberdeen. Outflows of client money had been significantly contained, while operating profits in the six months to June crept £1 million higher to £128 million.
He hailed Interactive’s success in winning £3.1 billion of net inflows in the first half, which was more than in the whole of 2023. However, its adjusted operating profit fell from £61 million to £55 million.
Overall, Abrdn reported net inflows of £800 million, a recovery from the net outflows of £5.2 billion posted last time.
Abrdn, the product of the 2017 merger between Standard Life and Aberdeen Asset Management, has been plagued for years by clients pulling money out. It is one of the most widely held companies with about 1 million small shareholders and owns a mainstream asset management business and a platform for financial advisers as well as Interactive. The insurance arm has been sold and as it confirmed it was on track to make £150 million of cost savings by 2025.
It also reaffirmed plans to explore trying to extract some of the surplus from its staff pension fund, which grew from £700 million to about £800 million in the period.
Abrdn is one of the few large employers to confirm it would like to claw back some of the surplus built up in its defined benefit scheme. It is considering both a buyback with a conventional insurance company, but also “running on” the scheme while extracting some of its surplus.
Clawing back some of the pension surplus would be innovative and potentially difficult, though the government is exploring ways to make it easier. Windsor said Abrdn had “a really good relationship” with the trustees of the scheme and would “tread softly”.
Abrdn is waiting for a consultation by the Department for Work and Pensions before it can take any further steps. It is thought any clawback would have to be approved by The Pensions Regulator.
The scheme has 13,000 members. It was closed to new members in 2004 and to new accrual from existing members in 2019. About 4,000 of its members are already drawing a pension. Most Abrdn staff today are in a separate defined contribution scheme.
Shares in Abrdn closed down 1¼p, or 0.8 per cent, at 158¾p.

[netcurtains] 07/8/2024 08:05

Why is Phoenix up by the same amount that Aberdeen is down?

[redhill] 07/8/2024 07:59

What TR1 ?

[bbd2] 06/8/2024 17:31

Well that TR1 explains the swing

[netcurtains] 06/8/2024 17:24

The fall...

That is so mean...

[jubberjim] 06/8/2024 17:11

Skinny thanks for getting back

Still think markets very edgy but will be going in at 151.65 and not before

If Abdn starts motoring will bring the others with it
And hopefully I can climb in there Lgen Mng and Phnx with Dlg on the back burner

[skinny] 06/8/2024 16:19

jubberjim - I'm no expert at all - I just like lines!

The share price is toying with the 50 and 200 DMAs, with falling indicators and comparatively low volume.

Ultimately, as ever, but perhaps more so atm - its down to the current volatile markets.

Potential yield at current share price is 9.20%.


free stock charts from uk.advfn.com

[gaygay3] 06/8/2024 16:11

Abrdn up 5% this morning down 5.59 percent this afternoon does not make sense

[jubberjim] 06/8/2024 16:09

In line with my perception will buy if it reaches 151.65 and furthermore have revised my upward target to resistance initially at 175 level followed by further resistance at 195 and if that goes onwards back up to 235

Highly unlikely in the current climate but the news that the dividend has been held gives me hope after labouring in the dark for so long.

151 65 is where my buy has been set and never say never

Would like to know the views of the more knowledgeable chartists out there whether you agree or think I'm out of my tree

Here's hoping

[cwa1] 06/8/2024 13:28

NB: WRITTEN EARLIER TODAY WHEN PRICE WAS UP

Abrdn PLC (LSE:ABDN) shares rose after it reported a slight improvement in profit and progress with its transformation despite fund outflows continuing.

The asset manager and owner of the Interactive Investor investment platform saw net outflows of roughly £1 billion in the first half of 2024, which was an improvement on the £6.5 billion outflow a year ago, as it saw higher gross inflows of £31.3 billion partly offset by net outflows in equities, multi-asset and from insurance partners.

This means net operating revenues fell 12% to £406 million.

However, adjusted operating profits inched 1% higher to £128 million, as costs were cut 9%, partly from a 13% reduction in front- and middle-office staff.

Interim chief executive Jason Windsor, who has been temporarily promoted from chief financial officer after the company parted ways with CEO Stephen Bird in May after four troubled years, said that there had been progress made with the transformation programme announced in January.

Abrdn is “firmly on track” to meet targets for the year, he said, namely cost savings of around £60 million for the full year and at least £150 million of annualised savings by the end of 2025, as well as making “a positive impact on performance, particularly in Investments, which is the main focus of the programme”.

Actions to reduce outflows included making improvements to the group’s “service proposition”, launching a new cash savings solution and a “strategic reprice” of its adviser proposition to be more competitive.

The interim dividend was kept at 7.3p per share, with Windsor’s outlook statement acknowledging that despite an improvement in market conditions in the first half, “the outlook for global financial markets remains uncertain”.

Shares in the FTSE 250-listed company, which earlier this year fell to an all-time low below 135p, rose 3.5% in early deals on Tuesday to 165.65p.

[bbd2] 06/8/2024 13:19

Well that’s quite an afternoon reversal

[chinese investor] 06/8/2024 12:53

Don't forget the Government will looking at CGT, IHT, Pension Tax, Stamp Duty, etc.
Not good for "Investment Vehicles" such as ABDN !

[mcunliffe1] 06/8/2024 12:48

I accept that pro. IF, I hadn't bought ABDN this morning and instead, placed that money into my RR holding I'd be almost £200 up instead of almost £200 down.

Luck of the draw.

If I must, I'll hold the 3009 shares I bought this morning for the 7.3p div paid in Sept.

[prokartace] 06/8/2024 12:38

Mc. It was a statement , not a complaint :)
However it convieniently forgets that I could have sold out at around 235p in mar 2023 and taken a 71p profit plus divs before that and interest after. more than doubling what i have. i would also no longer have any capital risk

[jubberjim] 06/8/2024 10:36

Skinny


The font of knowledge regarding charts

I am going to stick my neck out and say in line with dividend being maintained that 151.65 now becomes support/resistance

Bit surprised this hasn't taken off in light of self same results this morning.

But market is very cautious or the BSD s are away on holiday

Have a good one

[mcunliffe1] 06/8/2024 08:06

prokartace: I'm guessing you've received 5 div. payments. You've held prior to May 2022, so 27-28 months total.

Had you stuck, say, £10k into a cash ISA at 4.8% you would have made £1120 over 28 months.

That same £10k has earned you over £2000 assuming you bought at about £1.70 including costs.

I'd be quite happy.

[prokartace] 06/8/2024 07:56

So far I have made 36p in dividends and no capital gain

[chinese investor] 06/8/2024 07:27

ABDN has turned the corner IMO !

Chinese Investor (ABDN) 11 Jul 2024 - 10:26:31
13p To 180p !

Chinese Investor (ABDN) 04 Jul 2024 - 08:56:07
23p To 180p !

Chinese Investor (ABDN) 14 Jun 2024 - 15:54:21
38p To 180p !

[netcurtains] 06/8/2024 07:06

The FTSE likes the results