Aberdeen Asset Management has agreed to sell a stake worth £100m to Japanese financial institution Mitsubishi UFJ Trust and Banking.
The fund manager has issued 200 million shares at 50 pence a time to Mitsubishi, who is the firm’s biggest shareholder.
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The shares will not offer voting rights, but will help the Japanese firm qualify for a 5% dividend payment per annum.
Aberdeen intends to use the money as seed capital to support new product launches.
Aberdeen Asset Management chief executive Martin Gilbert commented: "In line with Aberdeen’s strategy to diversify our range of capabilities and solutions for the evolving investment environment, we have raised £100 million through a Preference Share issue to provide additional capital to seed new products."
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