Standard Life Aberdeen sees 'modest impact' amid Covid-19 pandemic

Standard Life Aberdeen (SLA) chief executive Keith Skeoch said the global investment giant was paying a shareholder dividend from a position of “financial resilience” as he highlighted an “encouraging” performance in the face of the Covid-19 crisis.

Standard Life Aberdeen was releasing a trading update to coincide with its virtual annual shareholder meeting. Picture: Graham Flack

Releasing a trading update to coincide with its virtual annual general meeting, the Edinburgh-based group said it had seen “only a modest impact” on client and customer service from the pandemic.

Skeoch noted that net fund outflows for the first four months of 2020 were estimated at £24 billion. However, after stripping out some £25bn relating to a Lloyds Banking Group mandate, net flows were positive to the tune of £1bn, which he described as an “encouraging signal”.

Sign up to our daily newsletter

The i newsletter cut through the noise

Assets under management and administration as of 30 April were estimated to be £490bn, compared with the £544.6bn reported at the end of 2019.

Skeoch said the firm’s commitment to pay the final dividend in respect of 2019 was supported by SLA’s capital strength. Shareholders will pocket 14.3p a share, taking the full-year 2019 payout to 21.6p.

The current volatile investment backdrop was “a time for careful stock picking” and “active management”, SLA’s chief executive noted.

He added: “During these turbulent times, we continue to focus on what we can control and are continuing the process of reshaping our cost base to ensure that it is future fit. We are making progress towards our synergy targets, but the external environment may impact the phasing of some of our activities over this year.”

Read More

Read More
Standard Life Aberdeen's Keith Skeoch highlights economic ‘pothole’ as annual pr...

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

With the coronavirus lockdown having a major impact on many of our advertisers - and consequently the revenue we receive - we are more reliant than ever on you taking out a digital subscription.

Subscribe to and enjoy unlimited access to Scottish news and information online and on our app. With a digital subscription, you can read more than 5 articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit now to sign up.

Our journalism costs money and we rely on advertising, print and digital revenues to help to support them. By supporting us, we are able to support you in providing trusted, fact-checked content for this website.

Joy Yates

Editorial Director


Want to join the conversation? Please or to comment on this article.