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Aberdeen takes pole position in race for Credit Suisse’s UK fund business

Aberdeen Asset Management is set to buy all or part of Credit Suisse’s traditional fund management business, say reports.

The share-based deal could double the group’s assets under management, with Schroders also understood to be interested in the firm.

Credit Suisse put the division, which has about £145bn in equity and bond funds, up for sale earlier this year after a strategic review.

Aberdeen has also been touted as the main suitor for troubled New Star Asset Management, however the group has made it clear that it would not take substantial debt onto its balance sheet.

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