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Aberdeen buys EquitiLink Group for $80m

Aberdeen Asset Management has acquired EquitiLink Group for $80m.

The Australia-based group manages five North American closed-end funds with total assets of $2.7bn, investing mainly in Asian fixed interest securities and equities.

AAM already has an office in Singapore managing £1.7bn of Asian equities which will now be more than doubled to £3.8bn.

The EquitiLink Group is expected to be acquired with net tangible assets of $3.8m after pre-completion distributions and asset transfers.

The total assets managed by AAM, following the acquisitions of EquitiLink Group, Murray Johnstone and Barclays Property Investment will now be £29.3bn.

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