This contributed to a decrease in assets under management (AuM) from £511.4bn at the end of 2024 to £500.1bn by the end of March 2025.

Despite the Q1 outflows, which saw £6.4bn leave the investment division, the firm secured a £6bn quantitative strategy mandate in April, pushing year-to-date institutional net flows into positive territory. Adviser platform outflows slowed to £600 million, the lowest level in over a year, attributed to improved service levels.

The group’s retail platform, interactive investor (ii), showed positive momentum, with customer numbers increasing 9% year-on-year to 450,000 and a notable 29% rise in higher-value SIPP accounts.

Chief executive Jason Windsor, appointed last September, reaffirmed the company’s strategy to become the UK’s leading wealth business and reposition its investment arm. He expressed confidence in meeting full-year financial targets, including adjusted operating profit exceeding £300m, despite market uncertainty.

Aberdeen Group, which reverted to its original name from “abrdn” in March, continues its cost-cutting programme initiated in January 2024, targeting 500 job reductions and £150m in annual savings to improve the investment division’s profitability.