May 12, 2020 / 6:33 AM / 18 days ago

Standard Life Aberdeen says assets at 490 billion pounds at end-April

FILE PHOTO: The offices of Standard Life Aberdeen in Saint Andrew Square Edinburgh, Scotland, Britain February 15, 2019.REUTERS/Russell Cheyne

LONDON (Reuters) - Standard Life Aberdeen (SLA.L) 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 (LLOY.L).

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”.

Reporting by Simon Jessop, editing by Sinead Cruise

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