March 10, 2020 / 7:20 AM / 5 months ago

Standard Life Aberdeen FY adjusted profit down 10% on outflows

LONDON, March 10 (Reuters) - British asset manager Standard Life Aberdeen on Tuesday posted a 10% fall in full-year adjusted pretax profit, hit by the impact of lower revenues as investors continued to pull money from its funds.

Fee based revenue fell 13% to 1.63 billion pounds ($2.12 billion) amid outflows of 17.4 billion pounds, largely from its equities and multi-asset products.

As a result, pretax profit, adjusted for restructuring costs and impairments, fell to 584 million pounds from 650 million, it said in a statement.

$1 = 0.7675 pounds Reporting by Simon Jessop, editing by Sinead Cruise

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