Aberdeen Group PLC (LSE:ABDN) reported net outflows in the first quarter as market weakness and planned redemptions weighed on assets, though its Interactive Investor (ii) platform delivered record growth.
The asset manager's assets under management and administration fell to £547.7 billion at the end of March from £556 billion at the end of last year.
Net outflows of £2.9 billion and the disposal of its financial planning business made a dent in the figure, along with shifts in markets.
Performance was led by ii, where net inflows reached a record £3 billion, up 88% compared to a year ago, and customer numbers swelled 14% year-on-year to 513,000.
Trading activity on ii also increased, with daily average trades up sharply on the previous quarter.
Chief executive Jason Windsor said ii delivered a "record quarter across a range of key metrics, supported by continued strong growth in SIPP customers".
The investments arm saw net outflows of £5.4 billion, driven largely by previously flagged equity withdrawals of around £4 billion, partly offset by inflows into fixed income and real assets.
Adviser outflows were £0.6 billion, unchanged year-on-year, as higher inflows were matched by redemptions.
Windsor said: "Looking ahead, we remain focused on delivery of our 2026 targets, while supporting customers through ongoing market uncertainty."
The group reiterated its 2026 financial year targets, including adjusted operating profit of at least £300 million and net capital generation of about £300 million.