Latest news with #AberdeenGroup
The Independent
27-05-2025
- Business
- The Independent
John Lewis rental home plan gets go-ahead after planning appeal
The John Lewis Partnership (JLP) has won an appeal to push through controversial plans to redevelop a Waitrose store and build hundreds of new homes in west London. The employee-owned business, which has been seeking to diversify its operations, had faced local opposition over plans to build 428 rental homes in West Ealing. JLP first submitted its build-to-rent redevelopment plan almost two years ago and launched an appeal in June last year after the local council failed to decide on its proposals. On Tuesday, the retail group, which also runs the Waitrose supermarket chain, said a Government planning inspector confirmed the plans were given the go-ahead. It is the latest planning decision where Government planning officials have stepped in to approve applications in order to help speed up developments. The proposed homes are near to West Ealing Crossrail station and include 83 affordable rental homes. The project is one of developments being pursued by a £500 million joint venture between JLP and investment firm Aberdeen Group. Katherine Russell, director of build-to-rent at JLP, said: 'We're pleased that the Inspector has found in favour of the multimillion-pound investment that will create vital new housing and a modernised Waitrose store to serve a community we have been part of for decades. 'The decision underpins a clear policy commitment to supporting brownfield development close to key transport hubs. 'We will continue to work closely with local people to bring forward the development responsibly and ensure it delivers long-term benefits, both to residents and the wider community as a whole.' Svitlana Gubriy, head of indirect real assets at the Aberdeen Group, said: 'We are incredibly excited about the future of the build-to-rent sector, which is undergoing a transformative shift. 'With the fundamentals of demand and supply supporting steady cash flows and sustaining long-term value of the sector, the focus is increasingly shifting on fostering community engagement and addressing local needs.'
Zawya
19-05-2025
- Business
- Zawya
Bahrain's Investcorp to spend $550mln on Oman's Port of Duqm expansion
Bahrain's Investcorp will invest $550 million on the expansion of Oman's Port of Duqm through its infrastructure platform. Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with the LSE-listed Aberdeen Group, will be the shareholder in the project, alongside the Port of Duqm Company, Belgium's DEME Group and the Port of Antwerp Bruges, under the consortium Cap Infra. The new infrastructure at the Port of Duqm marks AIIP's fourth investment commitment, following ADNOC's Project Wave in the UAE and two infrastructure concessions for social and public assets in Saudi Arabia. The Port of Duqm, situated in the south-east of Oman with direct access to the Indian Ocean, is a transit point for trade and commerce for the sultanate. (Writing by Bindu Rai, editing by Seban Scaria)
Bloomberg
08-05-2025
- Business
- Bloomberg
Aberdeen, Mesarete Capital Mull Joining Lebanon Bondholder Group
Aberdeen Group PLC and hedge fund Mesarete Capital LLP are considering joining a group of overseas creditors negotiating next steps for holders of Lebanon's sovereign bonds, according to people familiar with the matter. The firms have had talks about joining a recently reshaped bondholder committee, the people said, asking not to be named because the discussions were private. Representatives of the group met in person with Lebanese officials for the first time in Washington in April, on the sidelines of the International Monetary Fund and World Bank spring meetings.
Scotsman
30-04-2025
- Business
- Scotsman
Aberdeen Group sticks to guns despite tariff turmoil as Interactive Investor blossoms: shares rise
'Our strategy is to become the UK's leading wealth business and to reposition our investments business to areas of strength and market growth' – Jason Windsor, CEO Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Aberdeen Group has suffered fallout from the recent market turmoil but strong growth at its Interactive Investor business has helped offset some of the drag. The Scottish funds giant, which recently ditched its derided Abrdn brand name, said it was fully committed to its targets for the 2026 financial year. That came despite assets under management and administration (AUMA) dipping to £500.1 billion in the first quarter, from £511.4bn at the tail end of last year, reflecting global stock market weakness and a previously flagged redemption. Advertisement Hide Ad Advertisement Hide Ad However, the group's latest trading update also highlighted strong organic growth at Interactive Investor, which was bought by Aberdeen for £1.5 billion in late 2021, with year-on-year increases in total customers of 9 per cent to 450,000 and a 29 per cent rise in self-invested personal pension (SIPP) clients to 88,000. The Interactive Investor business appears to have benefited from recent national advertising and marketing activity. There were strong inflows of £1.6bn at the platform during the quarter. A sign at Abrdn's offices in Edinburgh's South Gyle area. The Scottish investment group is undergoing a rebrand from Abrdn to Aberdeen Group. Picture: Scott Reid Adviser net outflows of £600 million were the lowest in more than a year as service levels improved. The previously highlighted £4.2bn redemption from a low-margin mandate was the main driver of net outflows of £6.4bn in the investments division. Aberdeen said it remained committed to its 2026 targets of adjusted operating profit above £300m and net capital generation of around £300m. Chief executive Jason Windsor said: 'Our strategy is to become the UK's leading wealth business and to reposition our investments business to areas of strength and market growth. So far this year, we have made good progress against these objectives, despite the current heightened levels of market uncertainty. Advertisement Hide Ad Advertisement Hide Ad 'Interactive Investor has seen significant growth in new customers, and in trading volumes, which have risen to record levels during the recent period of market volatility. Jason Windsor is Aberdeen Group's chief executive. 'In adviser, net outflows improved in [the first quarter], and while there remains work to be done, we are encouraged by the business's progress, most notably in meeting or exceeding client service targets. 'In Investments, [first quarter] flows were impacted by the large redemption we noted at our full year results. We saw good inflows in fixed income in the quarter, but outflows in equities remained elevated. 'A major quant win in April has taken [investments] net flows to positive in the year to date. With clear strategic priorities and an ongoing focus on efficiency, we continue to target a material uplift in profitability,' he added. Advertisement Hide Ad Advertisement Hide Ad Shares nudged higher in Wednesday morning trading in London. Analysts at Panmure Liberum noted: 'The company has delivered assets under management in line with our estimates but with some significant signs of promise for the future. 'Activity levels at Interactive Investor have been strong and customer acquisition has continued. Adviser net outflows have slowed usefully on reduced redemptions. The investments [division] saw outflows as anticipated but has landed a material new mandate in April. 'The company has also reiterated its profit ambitions for [the 2026 financial year], which remain ahead of our estimates, despite recent market volatility. Improving business momentum underpins why we believe the shares to be materially undervalued.' Advertisement Hide Ad Advertisement Hide Ad In March, the group announced that it was ditching the Abrdn name to become Aberdeen as it posted the first increase in annual profit for three years. Former chief executive Stephen Bird, who stepped down in May 2024, led the change from Standard Life Aberdeen to Abrdn in 2021. However, announcing its 2024 full-year results, the Edinburgh-headquartered group said it would be changing its name to Aberdeen Group plc. Windsor told investors: 'This is a group to be proud of, with a promising future. We will deliver by looking forward with confidence and removing distractions. To that end, we are changing our name to Aberdeen Group. This is a pragmatic decision marking a new phase for the organisation, as we focus on delivering for our customers, people and shareholders.' In 2021, the group said it planned to create new branding after the funds firm sealed a deal to sell the 196-year-old Standard Life brand to Phoenix Group. Insurer Phoenix Group had acquired Standard Life Assurance in 2018. Advertisement Hide Ad Advertisement Hide Ad At the time, former boss Bird said: 'Our new brand Abrdn builds on our heritage and is modern, dynamic and, most importantly, engaging for all of our client and customer channels.' The results for 2024 revealed a full-year profit before tax of £251m, compared with a loss of £6m in 2023. Adjusted operating profit came in at £255m, up 2 per cent on the year before. At its investment arm, total assets under management and administration rose by 3 per cent to £511.4bn. Windsor said: 'The group grew profit in 2024 for the first time in three years, with each business increasing its contribution. As our momentum shifts to growth, we have a clear focus on improving client experience and shareholder returns. 'We have strengthened and streamlined our senior leadership team and, with our sharper focus, we are committing to better results again in 2025 and 2026. Alongside our results, we are setting out our strategy to become a leading wealth and investments group, with new 2026 targets that underline the potential for the profitable growth we see in all of our businesses.' Advertisement Hide Ad Advertisement Hide Ad
Wall Street Journal
19-03-2025
- Business
- Wall Street Journal
Malaysian Retailer Looks to Line Up Investors Ahead of IPO, Sources Say
Malaysian discount-store retailer Eco-Shop is looking to line up investment commitments from several international and domestic asset managers ahead of a planned initial public offering that could value the company at close to $1 billion, people familiar with the situation said. U.K.-based wealth and investment firm Aberdeen Group ABDN -0.37%decrease; red down pointing triangle, Singapore-based asset manager Lion Global, Malaysia's AHAM Asset Management, and Assure General Insurance are likely to come in as cornerstone investors, one of the people said.
