Abrdn PLC

DigitalBridge and Aberdeen Investments have completed the combination of ZEmobility and VGMobility, creating one of the largest sustainable transportation platforms globally, with over 5,400 buses deployed across Latin America. The transaction combines ZEmobility, an electric bus platform with 2,800 vehicles across Colombia and Chile jointly owned by DigitalBridge and Aberdeen Investments, and VGMobility, a similar platform with 2,600 vehicles across the same geographies. The combined platform comprises 16 concessions across Colombia and Chile and provides social infrastructure to transport authorities in Bogotá and Santiago under long-term, government-backed and availability-based lease contracts. The platform will continue operating under the ZEmobility brand while incorporating incremental VGMobility functions, solidifying its position as the leading public transport decarbonisation platform in Latin America with more than 5,400 vehicles. Sadiq Malik, Managing Director and Head of InfraBridge at DigitalBridge, said the combination brings together the two leading electric bus platforms in the region, while Ivan Wong, Partner for Concession Infrastructure at Aberdeen Investments, said the combined platform is helping accelerate the decarbonisation of public transport in Latin America.

Bloomberg reports that slowing demand for government bonds in Southeast Asia is opening opportunities for institutional investors to buy bonds at more attractive yields. Western Asset Management and Aberdeen Investments remain positive on the region, citing strong domestic demand and economic fundamentals, even as short-term markets are pressured by global bond yields, high oil prices, and heavy bond issuance. Thailand's auction of government bonds maturing in 2036 on September 2 drew a bid-to-cover ratio of just 1.13 times, the lowest for a 10-year benchmark bond since May. Malaysia's auction of bonds maturing in 2046 in late August drew a ratio of 1.63 times, the second-lowest this year. In the Philippines, last week's auction of 5-year bonds had the lowest bid-to-cover ratio since 2013, and Indonesia's regular government bond auction last week drew total bids of 66 trillion rupiah, or about 3.77 billion dollars, the lowest since the July 7 auction. Desmond Fu, head of investment management at Western Asset Management, said long-dated bonds remain exposed to term premium shocks in global markets and heavy issuance, so he favors short- to medium-dated bonds, and views weak-demand auctions as an opportunity to invest at higher yields. Feza Wibawa, investment manager at Aberdeen Investments, said the recent market weakness stems more from a tougher external environment than from any deterioration in Southeast Asian economic fundamentals, and remains positive on regional assets over the medium to long term. Thailand's August inflation rose 2.53% year on year, exceeding economists' expectations for the first time in four months, while Indonesia's inflation accelerated 3.19% year on year, also above market forecasts.

Aberdeen Group reported a 2% increase in first-half IFRS profit before tax to 276 million pounds from 271 million pounds a year earlier. Adjusted operating profit grew 21% to 151 million pounds, while net operating revenue rose 2% to 643 million pounds. Diluted earnings per share declined to 13.2 pence from 13.5 pence, though adjusted diluted EPS improved to 8.2 pence from 7.5 pence. The company reaffirmed confidence in delivering its fiscal 2026 targets of at least 300 million pounds in adjusted operating profit and approximately 300 million pounds in net capital generation, and beyond 2026 it targets medium-term net capital generation growth of 5% to 10% per annum absent major market irregularities. Shares were trading at 236.40 pence on the London Stock Exchange, down 4.91%.

MFS Government Markets Income Trust has changed its investment adviser to abrdn Inc. and simultaneously renamed itself Aberdeen Government Markets Income Fund, effective after the close of NYSE trading on July 2, 2026. The fund’s ticker symbol MGF and CUSIP remain unchanged, and it continues to list on the NYSE. Five new trustees took office following shareholder election on June 18, 2026: Todd Reit as Chair, Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard. The fund’s investment objective and fundamental policies are unchanged under the new management agreement. Aberdeen’s Global Fixed Income team will manage the fund, with portfolio managers Bill Bellinzoni, Bill Hines, Anthony Merola, and Jonathan Mondillo jointly responsible for day-to-day management.

Aberdeen Group's fair value estimate has edged higher to 224 GBp per share, driven by revised revenue growth and margin assumptions. Bullish analysts have set price targets in the mid-200 GBp range, with Deutsche Bank lifting its target to 265 GBp and maintaining a Buy rating, while Citi has also moved to a Buy rating with a 265 GBp target, citing potential upside not fully reflected in the current share price. JPMorgan retains an Overweight stance with a target of 241 GBp. However, several banks, including Morgan Stanley, have trimmed their targets, signaling caution around execution and valuation. The fair value adjustment reflects an increase in the revenue growth assumption to 102.28% and a slight rise in the net profit margin assumption to 16.64%.

MFS Investment Management announced that effective after market close on July 2, 2026, abrdn Inc., the US subsidiary of Aberdeen Investments, will replace MFS as the investment adviser of the MFS Government Markets Income Trust and the MFS Intermediate Income Trust. On the same date, five new trustees will be appointed to each fund's board and the current trustees will resign. Following the change, MFS Government Markets Income Trust is intended to be renamed Aberdeen Government Markets Income Fund, and MFS Intermediate Income Trust is intended to be renamed Aberdeen Intermediate Income Fund.