Abrdn PLC (LSE:ABDN)'s share price rose 3.7% in early trading after the Scottish asset manager said it saw net inflows of £800 million in the first quarter of the year.
This marks a minor reversal from the £6.2 billion in net outflows it experienced during the same period last year.
Assets under management increased to £507.7 billion, up 3% over the quarter.
The largest net inflows were recorded in its Interactive Investor business, which attracted £1.2 billion in new money.
Despite the positive quarter, Abrdn’s adviser business experienced net outflows of £900 million, worsening from £100 million a year ago.
In early trading, the stock was up 5.15p at 144p. Panmure, in an early note, said its investment case was based on a sum-of-the-parts valuation of Abrdn, which is about 100p higher than the current price.