Earnings release
Page 1
RNS Number : 7458ZAberdeen Group PLC21 October 2026 21 October 2026 Aberdeen Group plc Q3 2026: AUMA and flows trading update Key highlights: - AUMA of £578.9bn up 4% (31 December 2025: £556.0bn), reflecting positive markets and acquisitions.- Continued strong growth in interactive investor, with Q3 net inflows of £2.5bn up 32% year-on-year and YTD netinflows of £9.3bn also up 58%. Total customers up 8% to 533k (Q3 2025: 492k), with SIPP customers up 34%.- Adviser AUMA of £84.5bn, up 5% (31 December 2025: £80.4bn) with Q3 net outflows of £0.7bn in line with Q2.- Investments AUM of £393.2bn. Q3 net inflows in I&RW of £1.0bn, excluding liquidity, benefiting from strongtrends in fixed income, real assets and alternatives.- Sale of half of our stake in Standard Life in early October for c.£430m.- Confident in the delivery of the Group's FY 2026 targets of adjusted operating profit of at least £300m and netcapital generation of c.£300m. AUMA and flows (unaudited) AUMA Net flows 30 Sep 26 30 Jun 26 31 Dec 25 Q3 2026 YTD Q3 2025 YTD Q3 2026 Q3 2025 £bn £bn £bn £bn £bn £bn £bn Wealth interactive investor 111.8 107.7 97.5 9.3 5.9 2.5 1.9 Adviser 84.5 84.8 80.4 (2.0) (1.4) (0.7) (0.5) Investments Institutional & Retail Wealth 219.5 218.9 222.7 (7.1) (0.3) 0.5 (0.7) Insurance Partners 173.7 178.6 167.7 (3.3) (5.6) (2.5) (1.1) Investments total 393.2 397.5 390.4 (10.4) (5.9) (2.0) (1.8) Eliminations (10.6) (10.6) (12.3) (0.2) - (0.1) (0.1) Total 578.9 579.4 556.0 (3.3) (1.4) (0.3) (0.5) Jason Windsor, Chief Executive Officer, said: "In Q3 we have been firmly focused on delivering against our strategy, building on the progress already made. "interactive investor's strong growth has continued, with year-to-date net inflows of £9.3bn, customer numbersincreasing to 533k, and year-on-year growth of 34% in SIPP customers. Customer engagement has also beenstrong, with trading activity well above last year's average, albeit lower than the elevated levels earlier this year. "In Adviser, net outflows of £0.7bn were in line with Q2. While returning to net inflows is taking longer thananticipated, we continue to take significant steps forward. The platform is performing well and we are confident thechanges we are making will successfully position the business to meet the needs of the rapidly evolving IFAmarket. "In Investments, our I&RW business delivered net inflows of £1.0bn ex-liquidity, with good momentum across keygrowth areas, including fixed income, real assets and alternatives. "With positive momentum across the Group, we remain confident in delivering our FY 2026 Group targets ofadjusted operating profit of at least £300m and net capital generation of c.£300m."
Page 2
All figures in this announcement are unaudited and subject to revision.
Page 3
interactive investor (ii): Strong growth continues - Continued growth in customer numbers, with total customers of 533k up 8% year-on-year. Strong growth inSIPPs with 131k customers, up 34% year-on-year.- In a seasonally quieter quarter, Q3 net inflows were 32% higher at £2.5bn (Q3 2025: £1.9bn). YTD netinflows of £9.3bn, 58% higher year-on-year, demonstrating the continued appeal of ii's proposition. - AUMA of £111.8bn up 19% (31 December 2025: £93.9bn1), also benefiting from positive markets.- Following the elevated activity in the first half, daily average retail trades were up 6% versus Q3 2025, at28.1k.- ii's record of delivery continues with the recent full launch of ii Advice, ii360 (the advanced tradingplatform), and our enhanced Premium Service. Adviser: Improved service and strengthened leadership, net flows remain challenging - The return to net inflows is taking longer than anticipated, with net outflows in Q3 of £0.7bn unchangedrelative to Q2. Within this, we saw gross inflows into Wrap of £1.4bn and continued net inflows into MPS.- AUMA of £84.5bn up 5% (31 December 2025: £80.4bn) reflecting positive markets.- Good traction in Aberdeen SIPP following its launch in December 2025, with AUM now over £1.4bn.- Completed insourcing of service teams in July, giving us more control of the end-to-end customerexperience.- Adviser CEO Richard Denning has strengthened his leadership team to support a more targeted take-to-market strategy, with recent hires including a new Chief Distribution Officer and Chief Client ExperienceOfficer. Investments: Net inflows in fixed income, real assets and alternatives - Institutional and Retail Wealth (I&RW) net inflows excluding liquidity of £1.0bn (Q3 2025: £0.2bn) includednet inflows of £0.9bn, £1.1bn and £0.8bn in fixed income, real assets and alternatives respectively. - Encouraging trends in strategic focus areas, with real asset growth including positive inflows relating to ourpartnership with Border to Coast and rail infrastructure projects, and flows into commodity and preciousmetal ETFs within alternatives.- Equities net outflows of £1.9bn (Q3 2025: £1.6bn net outflow) remained a headwind in Q3, although wehave seen positive momentum and net inflows across our GEM income product range.- Insurance Partners outflows of £2.5bn (Q3 2025: £1.1bn) largely reflect Standard Life's heritage businessin run-off.- Total AUM was up at £393.2bn (31 December 2025: £390.4bn) with the year-to-date increase driven bypositive markets and the acquisitions of Herald Investment Trust (£0.8bn) and the MFS closed end funds(£1.3bn). Outlook - In October we reduced our stake in Standard Life plc from c.10.3% to c.5.2%, generating c.£430m. Weintend to deploy these proceeds in accordance with our disciplined capital allocation policy, which isfocused on maintaining a strong balance sheet, investing in the business to support sustainable profitablegrowth, reducing and optimising debt over time, and delivering sustainable returns to shareholders.- Consistent with this policy, and as indicated at our HY 2026 results, we have notified relevant bondholdersthat we will redeem £210m of Additional Tier 1 (AT1) debt at its first call date in December 2026.- We are confident in the delivery of the Group's FY 2026 targets of adjusted operating profit of at least£300m and net capital generation of c.£300m. 1. Excludes financial planning business AUMA of £3.6bn, the sale of which concluded on 30 January 2026. Management will be hosting a call for analysts at 8:30am (BST). To access a webcast of the conference call,please use the following link: https://brrmedia.news/ABDN_Q3_26 Enquiries: Institutional equity investors and analysts Duncan Heath 0207 1562 495 0788 4109 285 Corbin Chaplin 0131 3729 133 0777 4332 428 Media Duncan Young 0792 0868 865 Iain Dey (Teneo) 0797 6295 906 Appendix interactive investor Quarterly net flows and additional data Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Total customers at period end1,2 (k) 533 525 513 500 492 461 450 Customers holding a SIPP account1,2 (k) 131 125 116 105 98 92 88 Net flows (£bn) 2.5 3.8 3.0 1.4 1.9 2.4 1.6
Page 4
Customer cash balances1 (£bn) 8.3 8.6 8.7 8.0 7.3 7.0 6.8 Daily average retail trading volumes1 (k) 28.1 36.1 35.4 29.2 26.6 26.4 24.0 Market Share: Trades UK Cash Market1,3 - 30% 30% 29% 29% 27% 26% Market Share: Trades non-UK1,3 - 32% 32% 35% 34% 31% 31% Market Share: SIPP AUA1,3 - 21% 21% 20% 19% 18% 18% Market Share: Total AUA1,3 - 21% 21% 21% 21% 21% 20% 1. Excludes our financial planning business.2. Q4 2025 and Q3 2025 total customers are presented net of Jarvis customers who were expected to close their accounts by mid-2026 -based on trends seen from previous M&A activity.3. Source: BWC Benchmarking, data for Q3 2026 not yet available. Analysis of AUMA OpeningAUMA at 1 Jul2026 Grossinflows RedemptionsNet flows Market andothermovements Corporate actions4 ClosingAUMA at 30Sep 26 3 months ended 30 September2026 £bn £bn £bn £bn £bn £bn £bn Wealth interactive investor 107.7 5.1 (2.6) 2.5 1.6 - 111.8 Adviser1 84.8 1.9 (2.6) (0.7) 0.4 - 84.5 Investments Institutional & Retail Wealth 218.9 10.0 (9.5) 0.5 (1.0) 1.1 219.5 Insurance Partners2 178.6 3.7 (6.2) (2.5) (2.4) - 173.7 Investments total 397.5 13.7 (15.7) (2.0) (3.4) 1.1 393.2 Eliminations3 (10.6) (0.9) 0.8 (0.1) 0.1 - (10.6) Total AUMA 579.4 19.8 (20.1) (0.3) (1.3) 1.1 578.9 OpeningAUMA at1 Jan 2026 GrossinflowsRedemptions Net flows Market andothermovements Corporate actions6 ClosingAUMA at30 Sep 26 9 months ended 30 September 2026 £bn £bn £bn £bn £bn £bn £bn Wealth interactive investor5 97.5 17.4 (8.1) 9.3 8.6 (3.6) 111.8 Adviser1 80.4 5.5 (7.5) (2.0) 6.1 - 84.5 Investments Institutional & Retail Wealth 222.7 29.5 (36.6) (7.1) 1.8 2.1 219.5 Insurance Partners2 167.7 13.1 (16.4) (3.3) 9.3 - 173.7 Investments total 390.4 42.6 (53.0) (10.4) 11.1 2.1 393.2 Eliminations3 (12.3) (2.7) 2.5 (0.2) (0.6) 2.5 (10.6) Total AUMA 556.0 62.8 (66.1) (3.3) 25.2 1.0 578.9 1. Includes Platform AUA at 30 September 2026 of £80.7bn (30 June 2026: £81.1bn, 31 December 2025: £77.0bn). 2. Insurance Partners AUM at 30 September 2026 includes £172.5bn (30 June 2026: £177.5bn; 31 December 2025: £166.6bn) relating toStandard Life plc and £1.2bn (30 June 2026: £1.1bn; 31 December 2025: £1.1bn) of other AUM. 3. Eliminations remove the double count reflected in Investments, Adviser and ii. 4. Corporate actions in Q3 2026 relate to the acquisition of Herald Investment Trust (£0.8bn) and MFS closed end funds (£0.3bn). 5. AUA at 1 January 2026 includes £3.6bn in relation to the financial planning business. The sale of this business completed on 30 January 2026. 6. Corporate actions for the 9 months to 30 September 2026 relate to the sale of the financial planning business (ii and Eliminations) and theacquisitions of Herald Investment Trust (£0.8bn) and MFS closed end funds (£1.3bn). Quarterly AUMA 30 Sep 26 30 Jun 26 31 Mar 26 31 Dec 25 30 Sep 25 12 months ended 30 September 2026 £bn £bn £bn £bn £bn Wealth interactive investor 111.8 107.7 95.3 97.5 93.0 Adviser 84.5 84.8 78.6 80.4 79.0 Investments Institutional & Retail Wealth 219.5 218.9 214.5 222.7 218.0 Insurance Partners 173.7 178.6 168.9 167.7 164.3 Investments total 393.2 397.5 383.4 390.4 382.3 Eliminations (10.6) (10.6) (9.6) (12.3) (11.9) Total AUMA 578.9 579.4 547.7 556.0 542.4 Quarterly net flows
Page 5
3 monthsto30 Sep 26 3 monthsto30 Jun 26 3 monthsto31 Mar 26 3 monthsto31 Dec 25 3 monthsto30 Sep 25 15 months ended 30 September 2026 £bn £bn £bn £bn £bn Wealth interactive investor 2.5 3.8 3.0 1.4 1.9 Adviser (0.7) (0.7) (0.6) (0.8) (0.5) Investments Institutional & Retail Wealth 0.5 (2.2) (5.4) (1.8) (0.7) Insurance Partners (2.5) (0.8) - (1.2) (1.1) Investments total (2.0) (3.0) (5.4) (3.0) (1.8) Eliminations (0.1) (0.2) 0.1 (0.1) (0.1) Total net flows (0.3) (0.1) (2.9) (2.5) (0.5)
Page 8
Institutional & Retail Wealth AUM Detailed asset class split OpeningAUM at 1Jul 2026 GrossinflowsRedemptions Net flows Market andothermovements Corporate actions1 ClosingAUM at 30Sep 26 3 months ended 30 September 2026 £bn £bn £bn £bn £bn £bn £bn Developed markets equities 8.4 0.2 (0.6) (0.4) - 0.8 8.8 Emerging markets equities 10.5 0.5 (1.1) (0.6) (0.3) - 9.6 Asia Pacific equities 10.7 0.3 (0.7) (0.4) (0.2) - 10.1 Global equities 9.0 0.3 (0.8) (0.5) (0.1) - 8.4 Total equities 38.6 1.3 (3.2) (1.9) (0.6) 0.8 36.9 Developed markets credit 27.4 1.9 (1.1) 0.8 (1.0) 0.3 27.5 Developed markets rates 2.0 0.1 (0.4) (0.3) - - 1.7 Emerging markets fixed income 12.0 0.6 (0.2) 0.4 (0.2) - 12.2 Total fixed income 41.4 2.6 (1.7) 0.9 (1.2) 0.3 41.4 Diversified growth/income 0.8 - - - - - 0.8 MyFolio 13.5 0.5 (0.5) - (0.2) - 13.3 Other multi-asset 7.6 0.2 (0.3) (0.1) - - 7.5 Total multi-asset 21.9 0.7 (0.8) (0.1) (0.2) - 21.6 UK real estate 15.5 0.7 (0.1) 0.6 (0.1) - 16.0 European real estate 10.6 - - - (0.1) - 10.5 Global real estate 1.8 0.1 (0.1) - - - 1.8 Real estate multi-manager 2.7 - - - (0.1) - 2.6 Infrastructure equity 6.8 0.5 - 0.5 (0.3) - 7.0 Total real assets 37.4 1.3 (0.2) 1.1 (0.6) - 37.9 Alternatives and private market solutions 19.4 0.1 (0.2) (0.1) 1.1 - 20.4 Commodities 13.7 1.3 (0.4) 0.9 0.9 - 15.5 Private credit 1.4 - - - 0.1 - 1.5 Total alternative investment solutions 34.5 1.4 (0.6) 0.8 2.1 - 37.4 Total quantitative 27.0 1.7 (1.5) 0.2 (0.1) - 27.1 Total excluding liquidity 200.8 9.0 (8.0) 1.0 (0.6) 1.1 202.3 Total liquidity 18.1 1.0 (1.5) (0.5) (0.4) - 17.2 Total 218.9 10.0 (9.5) 0.5 (1.0) 1.1 219.5 1. Corporate actions in Q3 2026 relate to the acquisition of Herald Investment Trust (£0.8bn) and MFS closed end funds (£0.3bn). OpeningAUM at 1Jan 2026 GrossinflowsRedemptions Net flows Market andothermovements Corporate actions2 ClosingAUM at 30Sep 26 9 months ended 30 September 2026 £bn £bn £bn £bn £bn £bn £bn Developed markets equities 9.8 0.6 (2.9) (2.3) 0.5 0.8 8.8 Emerging markets equities 9.0 1.5 (3.3) (1.8) 2.4 - 9.6 Asia Pacific equities 12.8 0.9 (4.8) (3.9) 1.2 - 10.1 Global equities 8.6 1.0 (1.7) (0.7) 0.5 - 8.4 Total equities 40.2 4.0 (12.7) (8.7) 4.6 0.8 36.9 Developed markets credit 26.5 4.1 (3.5) 0.6 (0.9) 1.3 27.5 Developed markets rates 2.4 0.4 (0.9) (0.5) (0.2) - 1.7 Emerging markets fixed income 11.0 2.2 (1.2) 1.0 0.2 - 12.2 Total fixed income 39.9 6.7 (5.6) 1.1 (0.9) 1.3 41.4 Diversified growth/income 0.8 0.1 (0.1) - - - 0.8 MyFolio1 15.7 1.4 (1.9) (0.5) (1.9) - 13.3 Other multi-asset 7.6 0.7 (0.8) (0.1) - - 7.5 Total multi-asset 24.1 2.2 (2.8) (0.6) (1.9) - 21.6 UK real estate 16.2 1.0 (0.4) 0.6 (0.8) - 16.0 European real estate 11.0 - - - (0.5) - 10.5 Global real estate 1.7 0.2 (0.2) - 0.1 - 1.8 Real estate multi-manager 1.3 1.4 - 1.4 (0.1) - 2.6 Infrastructure equity 6.8 0.8 (0.3) 0.5 (0.3) - 7.0 Total real assets 37.0 3.4 (0.9) 2.5 (1.6) - 37.9 Alternatives and private market solutions 18.3 0.5 (0.3) 0.2 1.9 - 20.4 Commodities 15.8 3.1 (2.9) 0.2 (0.5) - 15.5 Private credit 1.8 0.1 (0.2) (0.1) (0.2) - 1.5 Total alternative investment solutions 35.9 3.7 (3.4) 0.3 1.2 - 37.4 Total quantitative 25.2 5.9 (5.1) 0.8 1.1 - 27.1 Total excluding liquidity 202.3 25.9 (30.5) (4.6) 2.5 2.1 202.3 Total liquidity 20.4 3.6 (6.1) (2.5) (0.7) - 17.2 Total 222.7 29.5 (36.6) (7.1) 1.8 2.1 219.5
Page 9
1. Market and other movements include the transfer of £3.0bn of assets from MyFolio funds in Institutional & Retail Wealth to InsurancePartners. 2. Corporate actions in 2026 relate to the acquisitions of Herald Investment Trust (£0.8bn) and MFS closed end funds (£1.3bn). Forward-looking statements This announcement contains statements that are or may be "forward-looking statements". All statements otherthan statements of historical facts included in this announcement may be forward-looking statements, includingstatements that relate to the Aberdeen Group's future prospects, developments and strategies. Often, but notalways, forward-looking statements can be identified by the use of forward-looking words such as "plans","expects", "is expected", "believes", "targets", "aims", "anticipates", "projects", "would", "could", "should", "may","might", "envisages", "estimates", "intends", "underway", or the negative of those, or by the use of references toassumptions, budgets, strategies, prospects and schedules. Although the Aberdeen Group believes that the expectations reflected in such forward-looking statements arereasonable as at the date of this announcement, it can give no assurance that such expectations will prove to becorrect. By their nature, forward-looking statements involve risk and uncertainty because they are based on informationavailable at the time they are made, including current expectations and assumptions, and relate to future eventsand/or depend on circumstances which may be or are beyond the Aberdeen Group's control. Neither Aberdeen Group plc, its affiliates nor any of its associates or directors, officers or advisers, provides anyrepresentation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur. Recipients of this announcement should not place anyreliance on these forward-looking statements and all forward-looking statements contained in this announcementare expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Exceptas required by law or regulation, neither Aberdeen Group plc nor its affiliates assume any obligation to update orrevise these forward-looking statements, whether as a result of new information, future events or otherwise. Pastperformance is not an indicator of future results and the results of Aberdeen Group plc and its affiliates in thisdocument may not be indicative of, and are not an estimate, forecast or projection of, Aberdeen Group plc's or itsaffiliates' future results. Please see Aberdeen Group plc's most recent Annual Report and Accounts for further detail of the risks,uncertainties and other factors relevant to its business and securities. LEI: 0TMBS544NMO7GLCE7H90 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authorityto act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this informationmay apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. Forfurther information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END