Aberdeen alternatives business changes name
Aberdeen Asset Management has changed the name of its Alternative Investment Strategies business to Aberdeen Solutions.
Aberdeen Solutions, which manages assets of £24bn (€28.3bn), recently launched the Aberdeen Diversified Growth Fund in the UK as a complement to the existing Aberdeen Multi-Asset Fund and Aberdeen Managed Distribution Fund.
The division includes pooled fund and segregated mandates, whether as multi-asset, multi-manager, passive, fund of hedge funds, fund of private equity funds and pan-alternatives funds.
Aberdeen says the new name better reflects “the component strategies within the business, but also importantly emphasises the Group’s capability in combining these investment tools into meeting client needs whether expressed as relative, absolute or real return, or a liability driven outcome.”
Anne Richards, chief investment officer of Aberdeen Asset Management, the financial crisis had sparked off interest from both institutional and retail investors in multi-asset or multi-manager solutions and outcome-orientated investment. She said: “Aberdeen Solutions is well placed to cater for this growing demand with a broad range of pooled products and the expertise to construct bespoke portfolios.”
As of December 2011, Aberdeen Asset Management has assets under management of £174bn (€205.3bn).