Aberdeen appointed to manage Brazil funds

Rio_de_JaneioroAberdeen Asset Management will be the investment adviser to two Credit Suisse Brazil funds from April.

The two funds are the Credit Suisse Equity Fund (Lux) Brazil fund and the Credit Suisse Bond Fund (Lux) Brazil fund.

The two funds will be merged into the firm’s Luxembourg-domiciled Aberdeen Global Sicav in June 2012 where they will appear as the Aberdeen Global – Brazil Equity Fund and Aberdeen Global – Brazil Bond Fund.

The Brazil equity strategy will be managed by Aberdeen’s global emerging markets team, led by Devan Kaloo.

In 2008, Aberdeen took over the bulk of Credit Suisse’s investment management business in an auction, and the Swiss banking group took a 25% stake in London-listed Aberdeen.

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