Worries about outflows from Standard Life’s flagship multi-asset strategy hit its shares, ahead of an £11bn (€12.2bn) merger with Aberdeen Asset Management to form the UK’s largest active manager.

Standard Life Ireland has reported record annual sales of €1.36 billion for 2015 with demand for pension products and underlying investment growth boosting performance.

British insurer and asset manager Standard Life has reported strong net inflows for the third quarter as investors looked to increase returns against a backdrop of low interest rates and volatile markets.