Full Year 2019 Standard Life Aberdeen PLC Earnings Call Transcript
Good morning and welcome to Standard Life Aberdeen's 2019 Full Year's Result Webcast.
Even though it's a webcast, I have to show you the usual disclaimer.
And I'm also joined today by Stephanie Bruce, our Chief Financial Officer; Rod Paris, our Chief Investment Officer; Campbell Fleming, our Global Head of Distribution; and Noel Butwell, the CEO of Standard Life.
2019 was another year of intense change for our industry, reiterated in early 2020 by a return to high levels of market uncertainty. 2019 for Standard Life Aberdeen was a year when we saw momentum starting to build in the business, particularly in the second half of the year. It was a strong year for investment performance with 74% of assets under management ahead of benchmark and an improving 3- and 5-year track record.
We saw encouraging momentum in gross and net flows in the second half of the year, and our first quarter of positive flows since 2017 in the fourth quarter. This was mainly driven by our Institutional and
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