|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||2.3400 - 2.3400|
|52-week range||1.3500 - 3.4000|
|Beta (5Y monthly)||1.21|
|PE ratio (TTM)||7.09|
|Forward dividend & yield||0.16 (6.72%)|
|Ex-dividend date||18 Aug 2022|
|1y target est||N/A|
British asset manager abrdn has bought a stake in digital assets exchange Archax, amid a wider push by investors into crypto-assets despite a recent plunge in value. The stake, acquired for an undisclosed sum, gives abrdn a seat on the board at Archax and makes the asset manager its largest external shareholder, an abrdn spokesperson said. Founded in 2018, Archax provides access to blockchain-based digital assets and became the first digital securities exchange to win regulatory approval from the Financial Conduct Authority, abrdn said in a statement.
Investment group goes into red amid ‘market turbulence’ and withdrawal of £24bn linked to cancelled Lloyds deal
(Reuters) -British asset manager abrdn said on Tuesday it would take longer to grow its revenues and boost profitability after half-yearly profit missed expectations on turbulent markets and inflationary pressures, sending its stock at the bottom of FTSE 100. Fund managers, which saw their assets under management reach record highs during the pandemic, are now witnessing an increase in outflows, as cautious investors shun riskier investments amid soaring inflation. The fund manager had forecast a cost-income ratio of 70% in 2023, which it said will now likely be delayed.