Aberdeen wins €115m property mandate, launches Global Small Companies fund
Aberdeen Asset Management is defying the European holiday break, announcing the win of a €115m property mandate and the launch of a Global Smaller Companies fund.
The mandate from Swedish institutional investors marks the first closing of its new Aberdeen Residential Sweden Fund, which has a conservative investment strategy and mainly invests in high-quality rental housing in growth areas.
Göran Bengtsson, Aberdeen’s head of Investment Management Property in Sweden said housing in Sweden is experiencing strong investor interest. “We feel we have managed to fill a gap in the market with this new product for mid-sized institutional investors. It is very gratifying that the first closing was so successful, giving us a good opportunity to finalise interesting transactions in the coming months.”
As at 30 June 2012, Aberdeen manages property investments of some € 3.6bn in Sweden.
Aberdeen has also announced the launch of a global smaller companies fund to be managed by its 14-strong global equities team based in Edinburgh.
The Luxembourg-domiciled Aberdeen Global World Smaller Companies Fund will be marketed to distributors and institutional investors around the world.
The 40-60 stock portfolio will focus on companies with market capitalisations of below $5bn. It is based on an existing US domiciled mutual fund managed by the global equities team that follows the same strategy.
Stephen Docherty, head of Global Equities at Aberdeen noted that the benefits of investing globally are now ingrained with many investors as they seek
diversification and to capitalise on the opportunities available around the world.
“However, so far much of their focus has understandably been on large cap companies. Smaller companies can be a complementary element of portfolios providing exposure to an under researched asset class that behaves differently to core global equity strategies.”