Aberdeen Asset Management has unveiled a new Liquid Alternative Strategy fund to offer investors exposure to a portfolio of alternative strategies.
The fund aims to generate returns that do not depend on the direction of traditional asset markets, thereby offering positive diversification and enhanced risk-adjusted returns in a multi-asset portfolio.
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The fund, which invests mainly with hedge funds, will target investors who have concerns about the current levels of equity and fixed income markets.
The new fund will be managed by the firm’s 18-strong hedge funds team headed by Russell Barlow, who reports directly to global head of alternatives Andrew McCaffery.
Seeded with $500m, the Alternative Strategies fund has attracted significant early investment from existing Aberdeen clients. The fund has an ongoing charge of 1.6% with a minimum investment of $100,000.
The fund will select alternative investment managers to run dedicated mandates within it. The launch is part of the firm’s strategy of diversifying and growing its Solutions business.
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By GlobalDataAberdeen said that its alternatives platform will contain total assets under management of over $30bn following completion of the announced acquisitions of Arden Asset Management and Flag Capital Management.
McCaffery said: "Alternative investment strategies are becoming increasingly central to client portfolios and moving into the mainstream.This is why we have seen such strong demand for this fund. It is this kind of investor that will look to solutions like the Aberdeen Alternative Strategies Fund to help diversify their portfolios."
