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Standard Life profits rise just ahead of merger
Insurance and asset manager Standard Life enjoyed a 6% jump in profits for the first half to 30 June just ahead of its £11bn merger with Aberdeen Asset Management.
Operating pre-tax profits hit £362m, higher than analysts expected despite investors pulling out £3.7bn worth of assetes during the six months.
The question is how will the new entity Standard Life Aberdeen (SLA) cope with the pressure from low cost passive funds?