LONDON (dpa-AFX) - Standard Life Aberdeen plc (SLA.L) reported Tuesday that its estimated Assets under management and administration or AUMA as of April 30 2020 was 490 billion pounds, with estimated net outflows in the first four months of the year of some 24 billion pounds.
However, excluding around 25 billion pounds related to withdrawals by the Lloyds Banking Group, estimated net inflows were around 1 billion pounds.
The company noted that COVID-19 had only a modest impact on the service it provides.
At its 2020 Annual General Meeting to be held today, Chief Executive Keith Skeoch says, 'While financial markets remain volatile, as they react to the economic consequences of the pandemic, the response from our clients and customers has been considered. 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.'
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