F&C Investments’ multi-managers Gary Potter and Rob Burdett have sold out of the Aberdeen Emerging Markets fund in two of their mandates, and replaced it with a JPMorgan Asset Management offering, reports FT advisor.
In February 2013, Aberdeen moved to slow inflows into its emerging markets franchise by imposing a 2% initial charge on its £3.7bn Emerging Markets fund, the $15.5bn (£9.86bn) Aberdeen Global Emerging Markets Equity fund run by Devan Kaloo, and the $2.7bn Aberdeen Global Emerging Markets Smaller Companies fund.
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Potter said he had decided to introduce Richard Titherington’s $1.1bn (£738m) Emerging Markets Opportunities fund into his £112.2m Equity Managed fund and the £90.1m Balanced Managed fund.
Potter added: "The JPMorgan fund gives us a slightly more directional risk-on tilt. Given we are bullish about this year and next we felt we should make the switch as it matches our slightly more risk-on mood."
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