Standard Life Aberdeen PLC (LON:SLA) reported a 3% increase in first-quarter assets, supported by positive market movements and recent deals.

Assets under management and administration rose to £568.9bn at the end of March from £551.5bn at the end of December.

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Assets were boosted by £3.5bn from Virgin Money, with whom SLA is forming a joint venture, and the acquisition of Asia-based real estate manager, Orion Partners.

In March SLA agreed to buy a 50% stake in Virgin Money’s investment business as part of new joint venture to expand the companies’ retail asset management services. As part of the deal, Virgin Money’s retail investment customers will gain access to fund management services and technology from Aberdeen Standard Investments, SLA’s investment arm.

Also in March, SLA announced a leadership shakeup following months of net outflows of client cash.

The group said it continued to see outflows from a “small number of strategies” in the first quarter without giving specific details.

However, assets managed on behalf of institutional, insurance and retail clients rose in the period.

Shares were little changed in morning trading at 259p.