Aberdeen Asset Management has agreed acquire an 80% stake in Indonesian fund house NISP Asset Management from its parent, NISP Sekuritas.
NISP Asset Management, which was spun out of NISP Sekuritas in 2011, manages roughly US$300 million in mutual funds, protected funds, and discretionary accounts on behalf of institutional, corporate and retail clients in Indonesia.
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The deal is subject to approval from regulators and NISP shareholders.
Following the acquisition, NISP Asset Management will be rebranded as Aberdeen.
Currently, Aberdeen has invested nearly US$2.8 billion in Indonesian equities. Its assets under management stood at US$320.6 billion at the end of January.
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