Standard Life's Outflow Woes Eclipsed by Accelerated Buybacks

Standard Life Aberdeen Plc said it will accelerate a share buyback program, sending the shares higher, even as clients continue to pull money from the asset manager. "The stock is very undervalued and it makes a lot of sense for us to accelerate that because it’s beneficial to our shareholders," co-Chief Executive Officer Martin Gilbert said in a media call. Client outflows are adding to pain in Europe’s asset-management industry, which is grappling with a range of issues from squeezed margins and regulatory headaches to competition from cheaper passive funds.