View more on these topics

64 funds with major positions in Standard Chartered


More than 60 funds have a major holding in allegation-hit Standard Chartered, with the bank a popular holding of Aberdeen’s Asian equities team.

Standard Chartered’s share price plunged this week after the New York State Department of Financial Services alleged the bank hid £160bn in transactions linked to Iran, which violates US law.

Data from FE Analytics shows 64 funds feature Standard Chartered in their top 10 holdings.

Aberdeen’s Asian equities team holds the stock in many of its portfolios including the £4.5bn Aberdeen Global Asia Pacific Equity fund, where it had a 3.1 per cent weighting at 30 June.

The team had a 3.6 per cent allocation to the bank in the £2.1bn Aberdeen Asia Pacific fund, a 4.1 per cent position in the £1bn Aberdeen Global Chinese Equity fund and a 3.1 per cent weighting in the £219.7m Aberdeen Asia Pacific and Japan fund at 30 June. The stock is also in the top 10 of the team’s £44m Aberdeen All Asia investment trust.

Overall, Aberdeen Asset Management owns about 6 per cent of Standard Chartered.

Other large portfolios that featured the bank in their top 10 allocations at 30 June include James Macpherson’s £956.2m BlackRock UK Equity fund and Jason Pidcock’s £621.7m Newton Oriental fund.

Standard Chartered “strongly rejects” the regulator’s allegations.

Wealth manager Charles Stanley has downgraded the bank from ‘accumulate’ to ‘hold’, adding: “The risk of holding this stock has appreciated markedly due to the regulatory risks.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm