The firm saw £1.2 billion in net inflows in the fourth quarter of 2024, a significant turnaround from £5.7bn of outflows a year prior. Despite this, abrdn still recorded net outflows of £1.1bn for the full year, highlighting the ongoing difficulties faced by mid-sized investment companies.

Total assets under management and administration (AUMA) grew by 3% in 2024, reaching £511bn, helped by a 1% rise in Q4 due to favourable market conditions and net inflows into investments and its platform, Interactive Investor.

Interactive Investor has been a bright spot for abrdn, with full-year net inflows nearly doubling to £5.7bn. The platform also saw a 17% increase in AUMA and an 8% rise in its customer base to 439,000.

Abrdn met its adjusted operating expenses target of under £1,075 million in 2024 and expects adjusted operating profit to align with market expectations. The company has also exceeded its £100 million annual savings target and remains on track to reach at least £150m in annual savings by the end of 2025.

John Moore, senior investment manager at RBC Brewin Dolphin, said: “Abrdn has largely been the subject of headlines for the wrong reasons during the last few years, however, these results offer signs of optimism for the future.

“Interactive Investor is performing very well and is offsetting outflows in the advisor division, while the wider asset management business is showing signs of stability.

“Results in line with forecasts are a step forward for the company and it will be interesting to see the targets and vision that Jason Windsor sets out with the full results in March.”