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Aberdeen soft closes GEM range

Aberdeen is soft-closing its global emerging markets (GEM) product range following strong inflows.

Its flagship Emerging Markets fund, managed by Devan Kaloo and his team, now has over £900m under management. The group runs about £7 billion of GEM assets across a range of pooled and segregated portfolios worldwide.

Over the nine months to the end of June, Aberdeen says it has seen £1.3 billion of inflows into the range, compared with its total equity inflows of £1.9 billion. Year-to-date, the industry as a whole has seen $41.6 billion (£25.4 billion) of inflows into the asset class, according to data from EPFR.

In a statement, the group said: “While we fully support the rationale behind investing long-term in emerging market equities, we believe it is in the best interests of our existing clients to actively manage the growth of this product to ensure that we remain capable of delivering performance for them.”
Aberdeen will review this decision in six months time.

The move follows the closure of Aberdeen’s GEM capability to new segregated institutional business from July 2008. Regional, including Latin America and Eastern Europe, Asian equity and small-cap strategies remain unaffec


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