Standard Life Aberdeen share price: what to expect from its half-year results
Over two years have past since Scottish chiefs Keith Skeoch and Martin Gilbert hashed out a plan to create the UK’s largest asset manager, but investors are still waiting for the deal to bear fruit ahead of its half-year earnings.
When is Standard Life Aberdeen’s results date?
Standard Life Aberdeen (SLA) will unveil its half-year results on August 7.
Standard Life Aberdeen’s results preview: what does the City expect?
Two years after Standard Life Investments and Aberdeen Asset Management merged to create the UK’s largest asset manager and investors are still waiting to see the deal bear fruit, with its share price tumbling more than 30% since being formed.
The £11 billion deal was meant to create a major active fund manager capable of becoming a European powerhouse and have the size to compete against the rise in passive fund management, but the merger has failed to create value for shareholders.
With the asset manager’s half-year results coming up next week, its bosses are under increased pressure to convey how it plans to generate value for shareholders who have grown impatient.
In its 2018 annual results, Skeoch told shareholders to remain calm and embrace its long-term growth strategy that will see the business benefit from its increased economies of scale that help lower costs.
‘We are working hard to deliver what is within our control,’ Skeoch said in its annual results. ‘Our integration process is running ahead of schedule and is now roughly 75% complete even though we are less than halfway through the original timetable.
‘We are encouraged by improvements in investment performance in key areas, and our ‘new active’ capabilities mean that we are set up well to capitalise on the trends and opportunities shaping our industry – while continuing to deliver value and returns for our shareholders,’ he added.
SLA is hoping that their hard work will stem capital outflows plaguing asset managers, as investors look to de-risk amid a myriad of macro-economic headwinds.
Lloyds settles £100 billion funds row with Standard Life Aberdeen
One bright bit of news for investors ahead of SLA’s half-year results is that it will retain the management of £100 billion worth of assets after settling a longstanding legal row with Lloyds Banking Group.
The high street lender agreed to pay SLA around £140 million to settle a disagreement over who had the right to manage the assets.
The settlement and allocation of funds in favour of SLA is welcome news and will help reduce investors fears about capital outflows from the asset manager.
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