Aberdeen sells two offshore portfolios and closes a third

Professional Adviser
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Aberdeen Asset Management has sold two offshore funds and closed another as part of an ongoing drive...

Aberdeen Asset Management has sold two offshore funds and closed another as part of an ongoing drive to focus on its core business and reduce debt. The group has closed its £3m Dublin-domiciled American Growth portfolio and returned the cash value of clients' investments. Gary Marshall, marketing director at Aberdeen, said the fund has been wound-up because it was uneconomic for both the group and clients. Aberdeen has also sold the management rights of its two Guernsey-domiciled emerging market debt funds to manager Julian Adams. The management buyout sees Adams leave the group to he...

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