|Bid||200.00 x 0|
|Ask||235.00 x 0|
|Day's range||224.90 - 234.60|
|52-week range||170.30 - 338.25|
|Beta (5Y monthly)||1.18|
|PE ratio (TTM)||20.95|
|Earnings date||07 Aug 2020|
|Forward dividend & yield||0.22 (9.29%)|
|Ex-dividend date||02 Apr 2020|
|1y target est||380.07|
Standard Life Aberdeen reported estimated total assets of 490 billion pounds at end-April, after outflows of 24 billion pounds linked to the withdrawal of a large mandate by Lloyds Banking Group . Stripping the Lloyds assets out, the British asset manager said it had seen estimated net inflows of 1 billion pounds over the first four months of 2020. As uncertainty related to COVID-19 continues to grip markets, Standard Life Aberdeen said it was making progress towards its cost savings targets but that the "external environment may impact phasing of some of our activities over this year".
(Bloomberg Opinion) -- There’s always been a whiff of hypocrisy surrounding the World Economic Forum’s annual gathering in Davos, Switzerland, where the global elite congregates in a ritzy ski village to debate topics such as hunger and global warming, and basically tell the world how to manage itself better. In a world blighted by a pandemic, the event risks looking completely inappropriate.The organization celebrated its 50th anniversary in January, with an attendance list featuring 2,000 guests representing about 100 countries. Among them were at least 119 billionaires, according to calculations by my Bloomberg News colleague Tom Metcalf. Moreover, while the gender imbalance has improved in recent years, more than three-quarters of the attendees were male which is, frankly, still pathetic. Davos Man looks increasingly anachronistic.Those optics have raised misgivings for one of the Alpine gathering’s regular attendees. “When people are struggling and unemployment is soaring, the very idea of a global elite meeting in a Swiss ski resort is divisive at a time when we need unity of purpose,” Standard Life Aberdeen Plc Chief Executive Officer Keith Skeoch told the Daily Mail newspaper last week. So he decided to pull his company out of Davos. “It is very apparent that we are heading into a significant global recession that will create real hardship in our communities,” Skeoch said in a memo to staff last week. The 3 million pounds ($3.7 million) that would have been spent on the conference, including hosting a whisky bar where a traditional Scottish bagpiper would serenade guests, will instead be donated to “community projects” in the regions where Standard Life Aberdeen operates. The nature of such shindigs means Davos is often caught napping, missing the breaking news that should dominate its agenda. It reflects a basic flaw in human nature: We’re programmed to look for the next banana, and pretty terrible at long-term planning.So when asked about the biggest risks facing the world, respondents to the WEF’s 2020 survey rated extreme weather events, the failure of climate-change mitigation, major natural disasters, loss of biodiversity and human-triggered environmental damage highest. It was the first time climate concerns had dominated the list in the survey’s 14 years, reflecting the prevailing news agenda in the months before the conference.Chronic diseases haven’t made the top 10 of most likely outcomes since 2010, after being rated the second most-probable risk in 2007. Pandemics haven’t featured since ranking as the fourth and fifth highest-impact dangers in 2007 and 2008, respectively.While the world was aware that a virus was spreading outside of China in January, the danger it posed seemed minimal, with fewer than 30 deaths reported by the time delegates gathered. The looming epidemic did make a brief Davos appearance. In a Bloomberg Television interview, Thomas Buberl, the CEO of French insurer Axa SA, said “new viruses will pop up” because of mankind’s encroachment into more regions of the world. But Pascal Soriot at drugmaker AstraZeneca Plc said that while the virus “must be taken seriously,” his personal opinion was that global warming was a much bigger threat.Adapting Davos to respect the strictures of social distancing may prove impossible when the whole point is to rub shoulders with influential people from the globe’s four corners. If the show does go on, you could argue that companies would have a fiduciary duty to keep their senior managers away: I suspect there’s not a single insurance company that would pay out on a Key Person Protection policy if a CEO caught the new coronavirus, or even Covid-20, at a Davos breakfast or sipping cocktails at the Piano Bar.The potential hazards of attending the WEF’s conclave have occurred to at least one member of the financial aristocracy. “I had this nightmare that somehow in Davos, all of us who went there got it, and then we all left and spread it,” JPMorgan Chase & Co. CEO Jamie Dimon said in February. “The only good news from that is that it might have just killed the elite.”There’s also the growing awareness of the climate crisis as a real and present danger to act on. The pandemic has already had a beneficial, if potentially short-lived, effect on the environment, with lockdowns around the world curbing pollution by closing factories and slashing travel. Jellyfish have been spotted floating in the canals of Venice (although, sadly, not dolphins), and whales are enjoying swimming in quieter oceans without the low-frequency noise generated by ships.With the average Davos attendee generating about 2,000 pounds of carbon dioxide, the bulk of which is emitted by the plane flights there and back, a trip to the conference looks less and less justifiable. If the organizers want to get ahead of the curve by announcing something, they should declare that the 2021 gathering will be held via Zoom. For once, Davos would truly reflect the zeitgeist.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
British fund manager Aberdeen Standard Investments said it is prepared to support companies seeking to roll over their existing executive pay plans for a further year, given the turmoil caused by COVID-19. While many companies must put forward a new three-year plan at their forthcoming annual general meeting, the asset manager - part of Standard Life Aberdeen , one of the biggest investors in UK firms - said it was prepared to be flexible. While it would work with companies to ensure their long-term survival and steer clear of "inappropriate" short-term demands, Aberdeen Standard said firms also needed to be mindful of all those affected by the many challenges thrown up by the virus.
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Recruiter Morgan McKinley said new financial services jobs grew strongly in January and February before the COVID-19 pandemic halted the revival.
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Janus Henderson, Aberdeen Standard, Aviva, BMO Global Asset Management, L&G, Kames Capital, and Columbia Threadneedle have all suspended funds.
(Bloomberg Opinion) -- The 2017 merger that forged Standard Life Aberdeen Plc was designed to create a company able to compete in the $1 trillion club of the world’s largest asset managers. On its current trajectory, however, the firm, now led by Keith Skeoch after co-Chief Executive Officer Martin Gilbert stepped down last year, won’t even be able to hang on to its status as the U.K.’s biggest stand-alone fund.Last year, Standard Life Aberdeen reached a settlement with Lloyds Banking Group Plc, after the bank attempted to cancel a contract with the fund manager to oversee 104 billion pounds ($136 billion) of assets. An arbitration agreement left 35 billion pounds in place until at least April 2022.But Standard Life Aberdeen’s loss has been Schroders Plc’s gain. Lloyds transferred almost 45 billion pounds to Schroders by the end of last year, and a further 30 billion pounds is poised to move across in the first half of this year. As things stand, Schroders, led by Peter Harrison since 2016, is set to become top dog in the U.K. fund industry.On Tuesday, Standard Life Aberdeen reported that its total assets were 544.6 billion pounds at the end of last year. Net outflows in 2019 were 17.4 billion pounds, excluding that Lloyds money, better than the 40.9 billion pounds that it bled in 2018 but still heading in the wrong direction.More than bragging rights are at stake when counting assets to measure the market leaders in pure fund management. (Legal & General Plc’s investment arm is a bigger player in the U.K. with 1.2 trillion pounds of assets, but it’s tied to an insurance company.) The bigger the pile of other people’s money a firm manages, the more revenue it can generate. Despite an ongoing post-merger cost-cutting program, Standard Life Aberdeen’s cost-to-income ratio has been hurt by a decline in revenue, climbing to 71% in 2019 from 68% at the end of 2018.To be sure, those 2020 asset numbers aren’t set in stone for either Standard Life Aberdeen or for Schroders. The former beat the analysts’ consensus for 2019 by about 3%, so the forecasts for this year could move higher. Standard Life Aberdeen may yet be able to hang on to its U.K. crown. But with equity markets currently in meltdown around the world, the first quarter is likely to prove tough for active managers with customers fleeing to the sidelines. Standard Life Aberdeen is well outside of the global top 10 in asset management; on current trends, it’s unlikely to make it into the top tier any time soon.To contact the author of this story: Mark Gilbert at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
British asset manager Standard Life Aberdeen said its full-year profits fell 10% after revenues were hit by outflows and warned of a turbulent market outlook given the volatility sparked by the coronavirus outbreak. Market moves on Monday were evidence of "pure panic", effectively pricing in a global recession, Chief Executive Keith Skeoch told journalists. Another wild card was the effect of sharply lower oil prices on demand, as it effectively worked as a tax cut for consumers.
May.12 -- Keith Skeoch, chief executive officer at Standard Life Aberdeen, discusses the company’s inflows and outflows, his business outlook, the plan to return to work and the new active business. He speaks exclusively on “Bloomberg Markets: European Open.”