There rarely appears to be a dull moment for Stephen Bird, chief executive of investment giant abrdn.

Mr Bird may have begun the day with a spring in his step as abrdn announced to the City that net outflows from its investment funds had been curbed in the first quarter.

It was a much-needed boost for the company’s troubled investment business, which has been blighted by outflows in recent years. Indeed, the company is currently in the midst of a major restructuring programme in a bid to return it to an “acceptable level of profitability”, a process expected to result in the loss of around 500 jobs.

Mr Bird came in for flak when it emerged in February that he was in line for a bonus of nearly £800,000 as the company reported a fall in profits, revenue and further outflows from its funds and reaffirmed plans to cut staff. So, he may well have breathed a sigh of relief when he was able to update the City with more positive news this morning.

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abrdn reported assets under management and administration (AUMA) had risen by 3% to £507.7 billion in the three months to March 31, “reflecting stronger markets and positive net flows”. Within that assets under management at its investment business increased to £374.3bn, from £366.7bn on December 31, 2023, while there were also increases in AUMA at both its Adviser and interactive investor divisions.

“Our cost transformation programme is on track as we take action to sustainably restore our business to a more acceptable level of profitability,” Mr Bird said. “Our key focus, and our most important priority, is on delivering investment performance for all of our clients.”

Yet the day did not pass entirely peacefully for Mr Bird and his senior leadership team. Climate change protestors opposed to the company’s investments in oil, gas and coal disrupted the company’s annual meeting in Edinburgh, both outside the Assembly Rooms and as chairman Sir Douglas Flint was delivering his opening remarks. Mr Bird was also urged by several shareholders to rule out investments in fossil fuels.

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In a clip posted by environmental campaign group Tipping Point UK on X, formerly Twitter, one protestor at the meeting declared: “abrdn, you are driving us towards a climate collapse by continuing to pour money into coal, oil and gas.”

The protestor then appeared to be escorted from the meeting. Mr Bird will have been glad to return to his spreadsheets after the AGM business, which included a minor rebellion over executive pay, had concluded. A resolution to approve the directors' remuneration report received 86.83% of the voted shares. All resolutions tabled by the board were passed.