Tuesday, July 01, 2008
Aberdeen Officially Enters U.S. Fund Business
has put the finishing touches on its acquisition of Nationwide Funds
. The company now has 26 mutual funds that will be known as the Aberdeen Funds.
Company Press Release
WEST CONSHOHOCKEN, Pa., July 1 /PRNewswire/ -- Aberdeen Asset Management
Inc. (Aberdeen) today announced the completion of the reorganization of 26
Nationwide Funds, representing approximately $2.2 billion in assets under
management, into newly created Aberdeen Funds.
This was the final step in a two-step transaction that began in October
2007 with Aberdeen's acquisition of Nationwide Fund Advisors' active equity
investment management business. Since that time, Aberdeen has been acting as
subadviser to a majority of the 26 reorganized Nationwide Funds.
"Aberdeen's acquisition of the 26 Nationwide Funds provides an established
mutual fund platform for us to build on and to offer a wide range of mutual
fund offerings, managed by highly regarded investment teams, to the US
market-place," said Martin Gilbert, Chief Executive Officer of Aberdeen Asset
Management PLC, parent company of Aberdeen.
"We are very happy that we were able to provide a seamless transition for
shareholders since the same portfolio managers and other investment
professionals that provided day-to-day portfolio management for the 26
Nationwide Funds (except for Nationwide Tax-Free Income Fund) will continue to
provide day-to-day portfolio management of the corresponding Aberdeen Funds,"
said Vincent Esposito, Head of North American Mutual Funds for Aberdeen.
On June 1, 2008, Aberdeen Asset Management PLC celebrated its 25th
anniversary in the asset management business. Over the past 25 years, Aberdeen
Asset Management PLC and its affiliates have grown to become a global asset
manager managing over $213 billion, as of March 31, 2008, of assets
principally on behalf of leading national and corporate pension funds, central
banks and other financial institutions from its 26 offices located around the
world. It employs over 1,800 staff in 21 countries, including investment
centers in the three main time zones through London, Philadelphia, Singapore
Aberdeen Asset Management Inc. ("AAMI") is a wholly owned subsidiary of
UK-listed Aberdeen Asset Management PLC, an independent asset management
company. AAMI manages $46 billion in assets as of March 31, 2008.
Investors should carefully consider a fund's investment objectives, risks,
fees, charges and expenses before investing any money. To obtain this and
other fund information, please call 866-667-9231 to request a prospectus, or
download a prospectus at www.aberdeeninvestments.com. Please read it carefully
before investing any money.
Aberdeen Funds are distributed by Aberdeen Fund Distributors LLC, Member
FINRA, 300 Barr Harbor Drive, Suite 300, West Conshohocken, Pa. 19428.
Nationwide Fund Advisors is the investment adviser to the Nationwide
Funds. Nationwide Funds are distributed by Nationwide Fund Distributors LLC,
Member FINRA, 1200 River Road, Suite 1000, Conshohocken, Pa. 19428.
Nationwide Fund Advisors and Nationwide Fund Distributors LLC are wholly
owned subsidiaries of Nationwide Financial Services, Inc. Nationwide Financial
Services is an affiliate of Nationwide Mutual Insurance Company.
SOURCE Aberdeen Asset Management Inc.
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