Fund Management

Large UK asset manager sees sharp fall in profits

Lost business from Lloyds Banking Group and market turmoil affect profits negatively at Standard Life Aberdeen.
Photo: David Cheskin/AP/Ritzau Scanpix
Photo: David Cheskin/AP/Ritzau Scanpix
by HELLA ANDERSEN

UK's second-largest asset manager Standard Life Aberdeen experienced a 30 percent fall in profits in the first half of this year. Heavy outflows linked to the asset manager's lost business with Lloyds Banking Group and market turmoil after the outbreak of the coronavirus pandemic took their toll, reports the Financial Times.

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