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Aberdeen and Standard Life shares skyrocket on merger deal

The group’s GARS fund also made headlines for experiencing continuous redemptions.

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.

Kristen McGachey

Kristen joined Last Word Media and the world of financial journalism in April 2016, leaving behind a career in a legal publishing firm as a senior researcher turned assistant editor. This native Angelino...

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