abrdn plc (SLFPF) Q4 2024 Earnings Call Transcript

2025-01-21 09:33:23 ET

abrdn plc (SLFPF)

Q4 2024 Earnings Conference Call

January 21, 2025 03:30 AM ET

Company Participants

Jason Windsor - Chief Executive Officer

Conference Call Participants

Nicholas Herman - Citi

Mandeep Jagpal - RBC Capital Markets

Hubert Lam - Bank of America

Enrico Bolzoni - JPMorgan

Greg Simpson - BNP Paribas

David McCann - Deutsche Numis

Michael Werner - UBS

Charles Bendit - Redburn Atlantic

Steven Haywood - HSBC

Presentation

Operator

Good morning, and welcome to the abrdn Q4 AUMA and Flows Trading Update. I will now hand over to Jason Windsor, CEO. Please go ahead.

Jason Windsor

Good morning, everybody, and thank you very much for joining our call this morning. I'm joined in the room this morning by Ian Jenkins, Interim CFO. Let me start by walking through the key points of today's statement. At the end of December, AUMA was £511 billion, up 1% in the quarter and 3% for the full year. As it has done throughout 2024, interactive investor delivered strong organic growth in Q4.

In the year as a whole, customer numbers are up 8% to 439,000. In Investments, we saw a net inflow in the quarter, including £2.3 billion in Institutional & Retail Wealth, IRW, driven by alts, quants and liquidity. And in Adviser, AUMA was flat in the quarter, with positive markets offsetting outflows.

Returning to net inflows remains our top priority for this business. One year ago, we announced an ambitious transformation program to create a stronger and more efficient group. And I'm encouraged by the progress we made in 2024. We've achieved just over £100 million of run rate savings, and we remain on track to deliver our target of at least £150 million of annualized savings by the end of 2025....

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