Aberdeen Standard Investments (ASI) has made the decision to rebrand its UK funds following the merger of Aberdeen Asset Management and Standard Life.
The names of the majority of the UK funds will be prefixed with 'ASI' in place of 'Aberdeen' or 'Standard Life Investments', as of 7 August.
ASI said it was making the changes alongside updates to the use of benchmarks in its fund documentation, as required by the FCA.
"The FCA has made some changes to its rules that UK funds need to comply with by 7 August," ASI said in a notice.
"We have also taken the opportunity to make some other changes to the UK funds. The ASI brand was created in 2017 following the merger of Aberdeen Asset Management and Standard Life. We believe that aligning the names of our UK funds with the new ASI brand will create ease, consistency and simplicity for investors and the wider public when engaging with our ASI business."
Some funds where Aberdeen Standard Capital is the sub-adviser will have Aberden Standard Capital at the beginning of each name in place of Standard Life Wealth.
- A constraint - a factor that a fund manager uses to limit or constrain how they construct a fund's portfolio with the intention of limiting risk.
- A target - a level of performance that a fund manager has in mind when managing a particular fund.
- A comparator - an index or similar factor against which a fund manager invites investors to compare a fund's performance.
As such, ASI has amended its fund documentation to explain whether any benchmark is used and if so why that particular benchmark has been selected. The firm added it has also identifed how it has categoried the use of that benchmark.
Brooks Macdonald has bought Edinburgh-based wealth and asset manager Cornelian Asset Managers for a fee of up to £39m.
Demerger expected to complete in Q1 2020