Abrdn AUM rises 3% in first quarter as flows rebound

(Sharecast News) - Investment manager Abrdn recorded net inflows of £800m in the first quarter of the year, driven by stronger markets. Assets under management were up 0.8% year on year to £507bn. The inflow figure compares with a £6.2bn outflow in the same period last year.

Abrdn's interactive investor business reported £1.2bn of new cash, but the adviser business saw net outflows of £900m for the quarter.

Reporting by Frank Prenesti for Sharecast.com