Standard Life's Outflow Woes Eclipsed by Accelerated Buybacks
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Standard Life Aberdeen Plc said it will accelerate a share buyback program, sending the shares higher, even as clients continue to pull money from the asset manager.
The first part of a 175 million-pound ($227 million) repurchase plan will commence in the coming days, the company, created in a merger a year ago, said on Tuesday. The shares rose by as much as 3.2 percent, the most since Feb. 23.