28th Aug 2015 09:46
LONDON (Alliance News) - Aberdeen Asset Management PLC on Friday said it has launched a USD500 million fund designed to give access to a portfolio of alternative strategies.
"Alternative investment strategies are becoming increasingly central to client portfolios and moving into the mainstream.This is why we have seen such strong demand for this fund. Many investors are constrained by complexity, liquidity, transparency and regulation. It is this kind of investor that will look to solutions like the Aberdeen Alternative Strategies Fund to help diversify their portfolios," Andrew McCaffery, global head of alternatives at Aberdeen, said in a statement.
The launch of the Aberdeen Alternative Strategies Fund is the latest step in the FTSE 100 asset manager's diversification, following its acquisitions of hedge fund specialist Arden Asset Management LLC and private equity manager Flag Capital Management earlier this year.
The fund is meant to generate returns that do not depend on the direction of traditional asset markets, targeting investors who have concerns about the current levels of equity and fixed income markets.
Aberdeen said the fund has attracted "significant early investment" from existing Aberdeen clients.
Aberdeen shares were up 0.2% at 315.80 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ADN.L