Excluding the GARS outflows, net flows across SLI were £3.1bn which the firm said included the benefits of increasing diversification.
Total assets under management increased by just £0.2bn, from £277.9bn at the end of 2016, to £278.1bn on 31 March this year.
Standard Life published its results for the first quarter alongside new details surrounding its merger with Aberdeen Asset Management which included the new name and news 800 jobs will be cut.
While pensions and savings performed the best for SLI with 40% growth in inflows during the quarter, its institutional and wholesale channels also saw net inflows of £1bn.
The performance was attributed to strong demand for the Standard Life wrap platform and growing inflows to its Elevate platform which it acquired in the fourth quarter of 2016.
In the trading update the firm said: “Short-term investment performance has improved since the start of the year with third party funds above benchmark over one year up from 20% at the start of the year to 77% at 31 March 2017.
“Long-term investment performance has remained strong with 73% of third party funds above benchmark over three years and 86% over five years.”
