Aberdeen Asset Management, a new sponsor of the IFP, reported growth of 2.5 per cent as assets under management rose to £185.8bn.

This is up from £181.2bn in the previous quarter, slightly above earlier forecasts from analysts.

Gross new business for the quarter totaled £10.9bn, compared to £11.2bn for the same quarter last year.

This brings the total for the nine months to 30 June to £33.9bn compared to £36.3bn in 2010.

Fixed income products exceeded its target and outflows slowed. Several other strategies also remain on track to exceed their target in late 2011. Net inflows went primarily into global equities (£1.3bn) and global emerging markets (£1.2bn).

The firm said that Asia- Pacific was a particular focus with the Asian Local Currency Short-Duration Bond Fund attracting £0.2bn in investment since March.

Martin Gilbert, chief executive of Aberdeen, said: “Aberdeen continues to make progress in what have been volatile market conditions. Flows into higher margin products have more than offset redemptions in terms of revenue ensuring profit, cashflow and margins remain strong.

“The investment environment is likely to be turbulent for at least the next few months. However, market volatility also

creates opportunities particularly for long-term investors with a fundamental approach like Aberdeen.”