Abrdn has reported an 8% drop in fee-based revenue to £696m, with adjusted operating falling 28% to £115m, driven by market movements.
The financial services group's half-year results showed that a profit of £113m for the same period last year has now reversed to a loss before tax of £320m, largely due to losses of £313m from the change in fair value of significant listed investments.
Net outflows were £3.8bn, up from £1.9bn during the first half last year. Total net outflows were £35.9bn, up from £5.6bn year-on-year, largely reflecting final Lloyds Banking Group tranche withdrawal of £24.4bn.
