* Total assets up 3% from end-December to 568.9 bln stg
* Market gains, deals more than offset currency moves
* Virgin Money JV, Orion deal buoys gross flows (Adds detail from statement, bullet points)
By Simon Jessop
LONDON, May 14 (Reuters) - British asset manager Standard Life Aberdeen posted a 3% rise in first-quarter assets on Tuesday as market gains and assets linked to recent deals more than offset currency losses and outflows from some funds.
Standard Life Aberdeen, Britain’s second-biggest listed asset manager by market capitalisation, has suffered months of net outflows of client cash and in March announced a series of board changes to shake up its leadership structure.
While SLA said assets managed on behalf of institutional, insurance and retail clients had all risen in the latest quarter, it continued to see outflows from “a small number of strategies”, without giving details on group net flows.
Total assets under management and administration at the end of March were 568.9 billion pounds ($737.12 billion), up from 551.5 billion pounds at the end of December.
SLA said assets were boosted by 3.5 billion pounds from Virgin Money, with which it plans a joint venture, and 700 million pounds through the acquisition of Asia-based real estate manager Orion Partners.
SLA is due to host its annual shareholder meeting on Tuesday.
$1 = 0.7718 pounds Reporting by Simon Jessop, editing by Sinead Cruise