A reduction in outflows from direct discretionary clients helped with total outflows of £200m during the quarter, versus the £700m coming in.
Thursday’s statement followed a year of growth at the firm with the acquisition of Duncan Lawrie Asset Management, announced in December 2016, expected to complete in the second half of the current financial year.
Chief executive David Nicol said there was momentum behind their growth strategy and it had been “a pleasing start to the year”.
“Continued net organic growth in funds, driven by increasing inflows into our core discretionary service and a reduction in discretionary outflows, underlines the strength of the business during uncertain market conditions,” Nicol said.
“The solid performance is underpinned by a commitment to deliver on our clear strategy. The progress we are making combined with our financial strength gives us confidence in our long-term prospects.”
The total number of core funds stood at £33.5bn, recording growth of 3.4%, while core income rose 12% to £67.9m in total.
