Positive markets help Standard Life Aberdeen boost assets in first quarter
Assets under management at Standard Life Aberdeen increased by three per cent in the first quarter, helped by positive market movements.
The company said assets under management hit £568.9bn, up from £551.5bn at the same point last year.
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It said positive market movements were partly offset by the strength of sterling.
Gross inflows were helped by £3.5bn from Virgin Money which it is launching a joint venture with.
It also received a £700m boost from the acquisition of Asia-based real estate manager Orion Partners.
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It said net outflows “continued to be concentrated in a small number of strategies,” but did not provide further details.
Standard Life Aberdeen's shares rose 1.3 per cent to 261p.
The company is reporting on its half year results on 7 August.