Aberdeen’s shares also suffered post-Brexit, losing 21.4% in the days after the vote. However, its shares have struggled to recover to pre-2016 highs, as several of its funds continued to deliver lacklustre performances.
And, in February 2017, Aberdeen announced that it had been hit by £10.5bn outflows in the fourth quarter of 2016.
Surprisingly, Standard Life’s astronomical gains on the day were not enough to buoy the FTSE 100, which fell by 0.33% to the 7,350 mark this morning.
The index was weighed down by commodities companies, Anglo American and Glencore, as well as British banks, Royal Bank of Scotland and Lloyds Banking Group.