Total AUM at Standard Life Investment rose by 7% to hit record £179bn for Q1 2013.
The company says results were driven by strong sales in both existing and new clients and benefit from positive market movements bringing third party AUM to a record £90.4bn.
Chief executive David Nish, said: “Standard Life has made a strong start to 2013, growing sales, net flows and assets.”
“SLI reinforced its position as a leading asset manager, delivering a very strong first quarter. This included reaching a record level of third party assets, which now represent over 50% of total AUM and a more diversified asset mix.”
Standard Life’s business in Asia and emerging markets saw a 20% rise in AUA to £253m (FY 2012: £215m) while sales in Hong Kong increased by 18% to £85m.
As the company is extending its geographic reach with new offices being set up in Singapore and Dubai in October and November last year, Standard Life has aimed to support further growth in the emerging markets and get closer to its customers.
To reinforce its presence on the Southeast Asian market, Standard Life is to transfer shared functions from London to Hong Kong and intends to hire about 20-30 people to attract new clients and enhance customer offering.
Alan Armitage, CEO of Asia and emerging markets, Standard Life, said: “Asia and the Emerging Markets are a key focus for our business growth, and we are committed to building a leading retail savings and investments business across the region.”
“Bringing our regional management team to Asia and establishing a hub here is a strategic next step in enhancing and streamlining our local business, product proposition and bringing more of our people closer to our local customers. It is an exciting time for our business and we look forward to establishing and transitioning our new team on the ground over the next six to 12 months.”