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Standard Life Aberdeen (SLA)

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idpickering
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Standard Life Aberdeen (SLA)

#206285

Postby idpickering » March 7th, 2019, 5:13 pm

This from TMF;

FTSE 100-member Standard Life Aberdeen is down 40% in 1 year. Here’s what I’d do now

The last year has been a tumultuous time for a number of FTSE 100 shares. It has been especially challenging for Standard Life Aberdeen (LSE: SLA), with the asset manager’s share price dropping by over 40% during that time.

This, then, could be a good time to buy it for the long term. It trades on a low valuation, has a high yield and could benefit from various changes it is making to its structure. In contrast, another FTSE 350 share that released results on Thursday could be worth avoiding due to its high valuation and modest growth prospects.


https://www.fool.co.uk/investing/2019/0 ... id-do-now/

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Re: Standard Life Aberdeen (SLA)

#206287

Postby Dod101 » March 7th, 2019, 5:26 pm

I hold Schroders and certainly prefer them. Their SP is down less than 20% even after the 4.5% fall today on the back of their none too rosy results. Their dividend is also secure.

The only positive I see with SLA is the new chairman Douglas Flint, ex chairman of HSBC.

Dod

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Re: Standard Life Aberdeen (SLA)

#206354

Postby monabri » March 7th, 2019, 11:33 pm

Dod101 wrote:I hold Schroders and certainly prefer them. Their SP is down less than 20% even after the 4.5% fall today on the back of their none too rosy results. Their dividend is also secure.

The only positive I see with SLA is the new chairman Douglas Flint, ex chairman of HSBC.

Dod


SDRC

One year ago : 2365p

May 22 2018 : 2720p

Today: 2005p

So, depends on the reference point.

idpickering
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Re: Standard Life Aberdeen (SLA)

#207324

Postby idpickering » March 13th, 2019, 7:16 am

Results part 1 of 8 highlights; viewtopic.php?f=15&t=16727

idpickering
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Re: Standard Life Aberdeen (SLA)

#207410

Postby idpickering » March 13th, 2019, 12:48 pm

This from TMF;

Forget the Standard Life Aberdeen share price, I’d buy this FTSE 100 8% yielder

FTSE 100 asset manager Standard Life Aberdeen (LSE: SLA) has been a disappointing investment over the last couple of years.

Since Standard Life merged with Aberdeen Asset Management in 2017, shares in the combined firm have lost about 50% of their value. A generous dividend is some compensation, but how safe is this payout?

I’ve been taking a look at the firm’s latest results to find out more.

“Building blocks in place”

The company says that it’s now 75% of the way through its transformation plan, leaving it ahead of schedule. Chief executive Keith Skeoch believes that a growing focus on direct relationships with retail customers and new areas of active investment like real estate and private equity will produce long-term results.

However, the firm’s performance does not yet show any signs of improvement. Outflows from the group’s funds increased in 2018. Assets under administration fell from £608.1bn to £551.5bn during the year.

Pre-tax profit from continuing operations fell from £660m to £650m. As a result, the 21.6p dividend was not covered by adjusted earnings from continuing operations of 17.8p per share.


https://www.fool.co.uk/investing/2019/0 ... 8-yielder/

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Re: Standard Life Aberdeen (SLA)

#207414

Postby Alaric » March 13th, 2019, 1:10 pm

TMF (idpickering) wrote: Chief executive Keith Skeoch believes that a growing focus on direct relationships with retail customers and new areas of active investment like real estate and private equity will produce long-term results.


Haven't they just dumped most of their retail customers on the Standard Life side into the hands of Phoenix? There may have been a number of shareholders among them, given the demutualisation of Standard Life some years back.

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Re: Standard Life Aberdeen (SLA)

#207465

Postby richfool » March 13th, 2019, 4:27 pm

HL's assessment is here:

https://www.hl.co.uk/shares/share-resea ... it-profits

Short extract:
The merger of Standard Life and Aberdeen Asset Management was all about scale. Scale creates opportunities for cost savings, offsetting the pressure on fees from regulatory scrutiny and passive investment funds that have impacted margins across the wider industry.

Early signs aren't bad. Cost savings are running ahead of plan and a diversified distribution network also seems to be bearing fruit, with the financial adviser platforms performing well despite tough conditions in the institutional market.

That hasn't been enough to stop the money walking out the door though. The group lost 6.7% of total AUM to withdrawals in 2018, and recent market falls have compounded the pain.

idpickering
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Re: Standard Life Aberdeen (SLA)

#207868

Postby idpickering » March 15th, 2019, 12:35 pm

This from TMF;

This is what I’d do about the Standard Life share price and that 9.2% dividend yield

Investors in Standard Life Aberdeen (LSE: SLA) have had a torrid time of it over the past 12 months.

Including dividends, since mid-March 2018, the stock has lost 34.6%, underperforming the FTSE 100 by 38.8%. Over the past five years, the company’s performance isn’t much better.

Investors who bought the Standard Life share price in March 2014 have seen the value of their investment lag the FTSE 100 by 8.5% per annum including dividends.

Based on these numbers, I calculate that every £1,000 invested in the FTSE 100 five years ago is worth 50% more today than a similar investment in Standard Life.

After these declines, the company’s dividend yield has spiked to 9.2%, giving it the third highest dividend yield in the FTSE 100. The question is whether it is worth making the most of this opportunity and pouncing on Standard Life today, or should you stay away?


https://www.fool.co.uk/investing/2019/0 ... end-yield/

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Re: Standard Life Aberdeen (SLA)

#208561

Postby scrumpyjack » March 19th, 2019, 9:41 am

https://www.telegraph.co.uk/business/20 ... rong-pull/

SLA have won their legal case against Lloyds re taking away £100 billion plus of funds under a management contract

Shares up 1.8%

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Re: Standard Life Aberdeen (SLA)

#208577

Postby Dod101 » March 19th, 2019, 11:09 am

I have no interest in either company but I cannot see this is going to do SLA much good. They will presumably get a cash settlement based I suppose on the fees they are losing until the contract would have expired in 2022, but I doubt that it will be life changing for SLA. It is said to be to be low margin business anyway.

Dod

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Re: Standard Life Aberdeen (SLA)

#208737

Postby monabri » March 19th, 2019, 10:07 pm

Re-posted.

Link as given by Scrumpyjack above

https://www.telegraph.co.uk/business/20 ... rong-pull/

The Telegraph article (paywalled) says:

- Standard Life Aberdeen has landed a major victory after a tribunal ruled that Lloyds Banking Group was wrong to pull a £100bn contract in the latest twist in a long-standing dispute.

- Lloyds decided to ditch a £106bn asset management contract with Aberdeen after it merged with Standard Life in a £11bn deal in 2017.

- However a tribunal has ruled that the bank was not entitled to give notice to terminate the agreement.

- SLA said that it was “carefully considering the terms of the decision and the appropriate next steps”.

-A spokesman for Lloyds Bank-owned Scottish Widows said: “We are disappointed with the decision of the arbitration tribunal, and will look to discuss its outcome with Standard Life Aberdeen.


(disc: 2.9% by value of my portfolio of HYP+ITs)

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Re: Standard Life Aberdeen (SLA)

#208744

Postby jackdaww » March 19th, 2019, 10:40 pm

every little (bit of good news) helps.

holder of SLA and SDRC.

:)

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Re: Standard Life Aberdeen (SLA)

#209305

Postby idpickering » March 22nd, 2019, 9:10 am

This from TMF written by Harvey Jones;

Forget the Cash ISA! I’d rather buy the Standard Life share price and 8.5% yield

It’s fair to say that the merger between Standard Life and Aberdeen in 2017 to form FTSE 100 giant Standard Life Aberdeen (LSE: SLA) has fallen short of expectations.

Below Standard

Hopes of creating an all-conquering fund management behemoth suffered a setback when Lloyds Banking Group and Scottish Widows ended its £109bn asset management contract, claiming the new combined entity was a competitor to its investment division. This was a blow, even though it represented less than 5% of the group’s 2017 revenues.

Lloyds planned to shift £80bn to Schroders and £30bn to BlackRock, but on Tuesday a tribunal ruled against Lloyds, which may now have to hand over cash for breaking its deal early, or even leave funds with Standard Life until 2022. This may be low-margin business but the news rounds off a good few weeks for the group, which is up almost 13% over the last month. Its stock is still down a third over the past year, though.


https://www.fool.co.uk/investing/2019/0 ... 8-5-yield/

idpickering
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Re: Standard Life Aberdeen (SLA)

#215587

Postby idpickering » April 17th, 2019, 9:38 am

This from TMF penned by Kevin Godbold;

Should I go for Standard Life Aberdeen’s 8% dividend yield, or is caution needed?

Shareholders have endured a rocky ride since Standard Life merged with Aberdeen Asset Management during 2017 to form Standard Life Aberdeen (LSE: SLA). Hard on the heels of that move, the enlarged firm sold off its insurance business to Phoenix Group in a deal that left SLA with a stake of around 20% in Phoenix.

The old Standard Life shareholders who once owned shares in an insurance company with an asset management division attached now essentially hold the stock of an asset management business similar to the old Aberdeen Asset Management but bigger. They’ve also seen the shares they’re holding plunge around 45% since 2015, and I reckon a big factor in that move has been the uncertainty of it all.


https://www.fool.co.uk/investing/2019/0 ... on-needed/

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Re: Standard Life Aberdeen (SLA)

#238680

Postby richfool » July 23rd, 2019, 3:39 pm

Martin Gilbert is to stand down from Standard Life Aberdeen's board:
LONDON (Reuters) - Veteran fund manager Martin Gilbert is to step down from the board of British fund firm Standard Life Aberdeen <SLA.L> to take up a role as the chairman of digital bank Revolut, the Financial Times reported on Tuesday, citing sources.

His departure from the group, the product of an 11 billion pound merger between Standard Life Investments and Aberdeen Asset Management in 2017, could be announced as early as Wednesday, the FT said.

https://uk.finance.yahoo.com/news/marti ... 33948.html

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Re: Standard Life Aberdeen (SLA)

#238703

Postby flyer61 » July 23rd, 2019, 4:39 pm

Good riddance!

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Re: Standard Life Aberdeen (SLA)

#238704

Postby Dod101 » July 23rd, 2019, 4:43 pm

If that comes to pass that will make SLA marginally more interesting and remove a headache for Douglas Flint the Chairman. He of course built SLA into the company it is today and although I have been very critical of him that was quite a feat.

Dod

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Re: Standard Life Aberdeen (SLA)

#238813

Postby idpickering » July 24th, 2019, 7:19 am

Settlement of arbitration with Lloyds Banking Group / Scottish Widows

Standard Life Aberdeen plc ("the Company") is pleased to announce that it has agreed a final settlement with Lloyds Banking Group / Scottish Widows ("LBG") in relation to the arbitration proceedings between the parties concerning LBG's attempt to terminate investment management arrangements under which assets are managed by members of the Standard Life Aberdeen group ("SLA Group") for LBG entities.

In its decision of March 2019, the arbitral tribunal found that LBG was not entitled to terminate these investment management arrangements. The SLA Group has continued to manage approximately £104bn (as at 30 June 2019) of assets under management ("AUM") for LBG entities during the period of the dispute.

https://www.investegate.co.uk/standard- ... 00064927G/

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Re: Standard Life Aberdeen (SLA)

#238827

Postby monabri » July 24th, 2019, 8:47 am

"In addition, the SLA Group will receive an upfront payment of £140 million from LBG as final settlement to compensate for loss of profit in relation to the Transferring AUM"

Of which £30 m will go towards paying a fine .

https://www.insider.co.uk/news/standard ... m-18762262

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Re: Standard Life Aberdeen (SLA)

#238829

Postby richfool » July 24th, 2019, 8:51 am

Thanks for that link Ian. I heard similar on Bloomberg this morning. So I interpret the RNS to indicate that under the terms of the settlement:

· The SLA Group will continue to manage approximately one third of the total AUM (circa £35 billion as at 30 June 2019) on behalf of LBG entities until at least April 2022

· Approximately two thirds of the total AUM (the "Transferring AUM") will be transferred to third-party managers appointed by LBG through a series of planned tranches over the next nine months. During this period, the SLA Group will continue to be remunerated for its services in relation to the Transferring AUM.

· In addition, the SLA Group will receive an upfront payment of £140 million from LBG as final settlement to compensate for loss of profit in relation to the Transferring AUM.


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