Aberdeen Asset Management has launched the liquid alternatives portfolio, first mentioned in Funds Europe's April issue, making it one of the world’s largest multi-managers in this field.
The Aberdeen Alternative Strategies Fund (AASF) is a $500 million (€444 billion) Ucits-compliant fund seeded by Aberdeen and with “significant” early investment from a group of clients.
“The fund’s launch establishes Aberdeen as one of the world’s largest multi-manager liquid alternatives managers,” the company says.
AASF offers daily liquidity and is “designed to provide returns that are not dependent on the direction of traditional asset markets, thereby providing positive diversification and improved risk-adjusted returns in a multi-asset portfolio”.
Aberdeen says this style of investment is becoming more popular among investors concerned about the current levels of equity and fixed income markets and the potential for more correlation between asset classes in the future.
An 18-strong team that overlooks mandates given to selected alternative managers, including hedge funds, is led by Russell Barlow who reports directly to Andrew McCaffery (pictured), global head of alternatives.
“Many investors are constrained by complexity, liquidity, transparency and regulation. It is this kind of investor that will look to solutions like the Aberdeen Alternative Strategies Fund to help diversify their portfolios,” McCaffery says.
The launch is part of Aberdeen’s wider strategy for the diversification and growth of its Aberdeen Solutions business.
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