Aberdeen Group (LSE:ABDN) said total assets under management and administration (AUMA) rose 4% to £578.9bn at the end of the third quarter, up from £556bn at the end of December, in a trading update covering the period to 30 September.
The London-listed investment manager and platform business attributed the rise to positive markets and recent acquisitions.
Interactive investor, Aberdeen's direct-to-consumer investment platform, delivered net inflows of £2.5bn in the third quarter, up 32% year-on-year, taking year-to-date net inflows to £9.3bn, 58% higher than the same period last year. Total customers at the platform rose 8% to 533,000, with SIPP customers up 34% to 131,000.
The adviser business reported AUMA of £84.5bn, up 5% from £80.4bn at the end of December, though net outflows of £0.7bn in the quarter were unchanged from the second quarter.
Adviser chief executive Richard Denning has strengthened his leadership team with new hires including a chief distribution officer and chief client experience officer, as the business works to return to net inflows.
"While returning to net inflows is taking longer than anticipated, we continue to take significant steps forward," said Jason Windsor, Aberdeen's chief executive.
The Investments division reported total AUM of £393.2bn, with net inflows of £1bn in Institutional & Retail Wealth, excluding liquidity, driven by fixed income, real assets and alternatives; equities remained a drag, with net outflows of £1.9bn, while Insurance Partners, which reflects Standard Life's heritage business in run-off, saw outflows of £2.5bn.
Aberdeen confirmed it reduced its stake in Standard Life from approximately 10.3% to approximately 5.2% in October, generating around £430m, proceeds it intends to deploy under its capital allocation policy of maintaining a strong balance sheet, investing for growth, reducing debt and funding shareholder returns.
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Consistent with that policy, the company has notified bondholders it will redeem £210m of Additional Tier 1 debt at its first call date in December, a step flagged at its half-year results in July.
Windsor said the group remains "confident in delivering" its 2026 targets of adjusted operating profit of at least £300m and net capital generation of approximately £300m, targets first set out at the half-year results, when adjusted operating profit stood at £151m for the first half.