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Aberdeen to spin off Property Investment Arm

Troubled fund manager Aberdeen Asset Management is attempting to raise capital by separately floating its property investment management division on the LSE.

While it intends to maintain a “significant minority shareholding” in Aberdeen Property Investors, it will lose control of the division which manages some £6bn in assets and accounts for 26 per cent of the Group&#39s total assets under management.

It has not set a date for the flotation, saying the process will be subject to market conditions and will depend on the formal approval of Aberdeen shareholders. HSBC Investment Bank will advise on the flotation.

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