Aberdeen Asset Management is all set to change the names of its 13 funds in a move to make portfolios’ objectives clearer to investors, with effect from 1 January.

As part of the move, Devan Kaloo’s £3.1 billion Aberdeen Emerging Markets fund will be renamed as the Aberdeen Emerging Markets Equity fund and Hugh Young’s £2.3 billion Aberdeen Asia Pacific fund as the Aberdeen Asia Pacific Equity fund.

The name changes allow the company to include more details about the region a fund is invested into and to distinguish between bonds and equities.

All investors will be made aware opt the changes via a communication in November.

An Aberdeen spokesman said: "We have clarified the actual objectives of the funds through these name alterations."

"The changes were intended to make it clearer the asset class and the part of the market [the funds] invest in," he added.

The company’s spokesperson added that only the names of the funds would change and that there would be no change of strategy on any of the affected funds.