Standard Life Aberdeen Share Discussion Threads

[speedsgh] 07/8/2018 16:24

Exodus from giant Gars fund shows no sign of slowing -

Outflows from Standard Life Aberdeen fund that was once the UK's largest continue to weigh on investment group...

[fenners66] 07/8/2018 13:43

"We are actively taking steps to improve our investment performance in key areas and are encouraged by the impact of these initiatives."


That's what they do for a living and now they are actively taking steps ! ?

Do they think it is a good message to highlight they are going to try and start to do what they are paid for ? !

If there are active steps - why have they not done them already ? Or are they sacking the under-performers as part of the £350m savings ?

[chinese investor] 07/8/2018 13:12

Thanks wilksey1.

[wilksey1] 07/8/2018 13:02

Chinese Investor you need to update your dividend payment in the header 7.3p thanks

[chinese investor] 07/8/2018 12:28

Thanks !
I've corrected the error !

[eipgam] 07/8/2018 11:41

55 mill... at £3.18

or 1.8% of issued shares

[cyberian] 07/8/2018 11:03

Chinese Investor....500,000?????

[speedsgh] 07/8/2018 09:45

Numis sees ‘deep value’ in Standard Life Aberdeen -

The market is undervaluing Standard Life Aberdeen (SLA) especially after the successful flotation of its Indian joint venture business HDFC Asset Management Company, says Numis.

Analyst David McCann retained his ‘buy’ recommendation and target price of 433p on Standard Life Aberdeen after oversubscribed shares in HDFC went to a c.65% premium, implying value of 50p per share for SLA shareholders, far above Numis’ last published valuation of 28p.

‘Back of the envelope, at SLA’s current share price of 308p, we calculate this means the market value of SLA’s investments at live prices and capital returns/current year dividends alone nearly explain the whole SLA share price,’ he said.

‘We believe this highlights the deep value opportunity for patient investors.’

McCann added that the market was ‘materially undervaluing SLA and we believe it offers a significant value opportunity’.

The shares were flat at 308.1p yesterday.

[chinese investor] 07/8/2018 09:42

£175 million buys a lot of SLA shares !

55,000,000 of them !

[dr biotech] 07/8/2018 09:38

Let’s hope so. Will be interesting to see how the day unfolds as the joint CEOs try to get their message out

[chinese investor] 07/8/2018 08:42

Is the nightmare over ?

[ygor705] 07/8/2018 07:55

Profitability below analysts estimates but targeted cost savings post the merger and disposal of the life business look attractive. As has been said elsewhere, the outflow of funds has come in below estimates but it is still an outflow. Shares must be yielding over 7% after the increase in the dividend and the share buyback should cushion any pressure on the shares from here. I'm not excited for the share price short term but cannot see any great reason to sell on fundamentals at this level.

[dr biotech] 07/8/2018 07:54

Needless to say I’m not expecting a rebound anytime soon, but markets aren’t always rational

[joshuam] 07/8/2018 07:47

Still one of the strongest balance sheets in the sector

[unastubbs] 07/8/2018 07:44

outflows not as high as analyst consensus (£16b v £17b), dividend increased by 4.3% and tranche 1 (£175m) share buyback to commence imminently. these should rise strongly today i suggest with ftse futures also pointing to a good start.

[chinese investor] 07/8/2018 07:42

Closing AUMA from continuing operations

H1 2017 H1 2018
627.0 610.1

[speedsgh] 07/8/2018 07:41

from part 2 of 4:

Half-year Report: Part 2 of 4 -

Proposed dividend
We propose an interim dividend for 2018 of 7.30p per share which is an increase of 4.3%. This will be paid on 25 September 2018 to shareholders on the register at close of business on 17 August 2018.

[speedsgh] 07/8/2018 07:41

Half-year Report: Part 1 of 4 -

Accelerating the share buyback programme
· Initial tranche of £175m to commence in the next few days, as part of the capital return2 of up to £1.75bn

Sale2 of insurance operations completes transformation to a capital light investment company
· Enhancing our strategic partnership with Phoenix Group ("Phoenix")

Improving momentum in gross inflows diversified across asset classes and channels
· Gross inflows of £38.0bn (H1 2017: £39.5bn, H2 2017: £36.0bn) including increase in flows from Phoenix
· Net outflows remain a challenge in a tough market but were concentrated in a narrow range of strategies
· Increased pace of innovation in "new active" investment solutions with the launch of 20 new funds (FY 2017: 22) and targeted bolt-on acquisitions strengthening our capabilities in private markets, ETFs and closed ended funds
· We have a good and diverse pipeline including further significant business transitioning from Phoenix

Profitability supported by cost control
· Adjusted profit before tax from continuing operations of £311m with improvement in the cost/income ratio to 69.4% (FY 2017: 70.6%) and continued focus on reducing the ratio to 60% over the medium term
· Now targeting a total of over £350m of savings including merger related cost synergies of £250m as well as efficiency savings from a simplified global operating model in excess of £100m

Financial strength supporting investment for growth and progressive dividend policy
· Strong holding company cash position of £1.0bn (FY 2017: £1.2bn) excluding net cash proceeds of c£180m to be received following the successful IPO of HDFC AMC
· Interim dividend up 4.3% to 7.30p

Martin Gilbert and Keith Skeoch, Chief Executive Officers, commented:

"Conditions for the asset management industry continue to be challenging. However, our gross inflows remain robust and are spread across a diverse range of investment capabilities, and our market-leading adviser platforms continue to grow. Our investment and distribution teams are winning new mandates and we have a good and diverse pipeline of business from around the world. We are actively taking steps to improve our investment performance in key areas and are encouraged by the impact of these initiatives.

"We are also pleased by progress on the integration programme and achievement of cost synergies. The sale of our UK and European insurance operations will complete our transformation to a capital light business and enhances our strategic partnership with Phoenix. Our financial strength allows us to return up to £1.75 billion of capital to shareholders and we will commence the first tranche of £175m in the next few days. We will still have one of the strongest3 balance sheets in the sector, which enables us to continue to develop and broaden our areas of strength and focus on delivering long-term performance for our clients."

[timmy11] 06/8/2018 16:03

sorry its heng an life

[timmy11] 06/8/2018 15:49

also forgot it owns 50 per cent in heng life in hong kong
anyone know the value

[essentialinvestor] 06/8/2018 15:09

Tim, I've made the same point re HDFC and PHNX,
it's why SLA is at least worth watching.
I'm cautious on SLA atm as the vast bulk of profitability
comes from their UK based asset management business.
Tomorrow, the market will hone in on any net outflows
and AUM, very little else will be paid attention to.

[timmy11] 06/8/2018 14:50

standard life aberdeen sale to phoenix 3 billion

hdfc share in india 4.3 billion

20 per cent share in phoenix 800 million

and market cap is only 9.2 billion

[oilretire] 06/8/2018 14:06

Half year results tomorrow so maybe clarification/updates on the debates here?