A high-profile shareholder in Abrdn dumped the stock after losing faith in management’s ability to turn the UK asset manager around.
US investment firm Harris Associates, which has more than $100bn in assets under management, “sold the stock last year as [we] lacked confidence that management could repair the business”, David Herro, the firm’s deputy chair, said.
Herro questioned whether Abrdn “overpaid” for the Interactive Investor business, which it bought in 2021 for £1.5bn.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
US tariffs and UK insurance hikes are worrying dealmakers, but some see a chance for Europe to prove its worth
Housebuilder reiterates full-year completion and profit guidance
Company says it has had good start to the year in Q1 trading update
A local private investor has snapped up the multi-let office for £6.1m
