Fund manager Henderson has seen net outflows in the first quarter of 2012 but assets under management (AUM) have grown on the back of the recovery in equities.
Net outflows from the UK and US retail arms were £392m, more than offsetting net inflows of £291m from the European retail and investment trusts divisions.
AUM increased by £2.4bn to £66.7bn at 31 March 2012.
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The firm also says it has repaid debts of £142.6m from existing cash resources.
Andrew Formica, Henderson's Chief Executive said: "Although equity markets are higher than at the beginning of the year, continued market volatility and economic uncertainty during the period have kept investor demand for risk assets subdued.
"Whilst we expect markets to remain volatile, I am confident that our product diversity, investment performance and relentless client focus, position us well for the future."
The future wasn't looking very bright in early trading; Henderson shares had dropped 3.9% by 08:07 leaving the stock 27.5% down over the last 12 months.
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