ABRDN's Revenues Rise, but No Investment in Russia for Foreseeable Future
ABRDN, a prominent investment management firm headquartered in the United Kingdom, has announced an increase in revenue for the first quarter of 2022. Increased client demand and improved market conditions drove the company’s strong performance.
Revenues for the quarter reached £745 million, up from £617 million in the same period last year. ABRDN’s assets under management also increased, rising to £681.4 billion from £632.1 billion in the previous quarter.
ABRDN has disclosed that despite favorable findings, there are no intentions to engage in investment activities in Russia. This decision is based on the persisting political frictions between Western states and Russia, which have influenced the outcome. The decision was prompted by Russia’s recent military buildup near the Ukrainian border and concerns regarding their treatment of political opponents.
ABRDN’s CEO, Stephen Bird, commented on the decision, stating that the company is “closely monitoring developments” in Russia and will continue to evaluate the situation. He also emphasized the importance of responsible investing and the need to consider environmental, social, and governance (ESG) factors in investment decisions.
ABRDN Upholds its Ongoing Dedication to Responsible Investment Practices.
ABRDN’s investment strategy prioritizes responsible investing and ESG factors, as evidenced by the company’s decision to refrain from investing in Russia. The company received acknowledgment for its endeavors in this realm, including its endorsement as a signatory to the Principles for Responsible Investment (PRI), backed by the United Nations, in 2019.
ABRDN’s focus on responsible investing is demonstrated through implementing responsible investment strategies and developing responsible investment products. The company’s ESG offerings include a range of funds focusing on sustainable infrastructure, renewable energy, and social impact. ABRDN has also integrated ESG factors into its investment decision-making process, focusing on identifying companies demonstrating strong ESG performance.
In addition to its focus on responsible investing, ABRDN has also been recognized for its commitment to diversity and inclusion. The company has set ambitious targets for increasing diversity among its workforce and has implemented various initiatives to support this goal.
In conclusion, ABRDN has declared that it will not invest in Russia in the foreseeable future, emphasizing its dedication to responsible investing and its concentration on ESG factors. The first quarter of 2022 saw the company’s investment management expertise and leadership reflected in a strong performance. With its continued focus on responsible investing and commitment to diversity and inclusion, ABRDN is well-positioned to deliver strong results for its clients and stakeholders.