This fund manager has taken a very different approach to picking a new corporate identity.
No, it’s not a typo, fund manager Aberdeen Standard Investments really is changing its name to just Abrdn.
In a short email this morning, the company said:
“Clarifying our brand has been a key part of our client-led growth strategy that is driven by our ambition to deliver best in sector performance.
“We are future looking and ambitious for your growth and want to build a brand that resonates in the sector, works digitally with our expanding customer and client base and is clearly distinguished and identifiable.”
The new name, which follows the Airbnb model on vowel use, has been widely ridiculed and reminds us of other corporate name changes that have been universally mocked. You might still refer to Snickers chocolate bars as Marathon, or Starburst as Opal Fruits, but they’re not the worst by a long shot.
It was 20 years ago that Royal Mail (LSE:RMG) decided it would rather be known as Consignia in what is widely regarded as one of the most disastrous corporate rebrandings ever undertaken. It lasted little more than a year.
Abrdn added today: “A brand is nothing without performance and it is this aspiration that we believe will continue to differentiate us as an asset management leader.”
At its last st of rsults, th company cut its annual dividnd by almost a third and rportd a 16.6% dclin in adjustd pr-tax profit to £487 million in 2020.
How long do you think it will be before Abrdn invites the missing e’s back into the fold?
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.