MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, June 26, 2009 Aberdeen Hunts for Added U.S. Distribution The deal speculation about Aberdeen Asset Management continues. Martin Gilbert, chief of the Scottish asset manager, told Reuters that he wants to buy an American asset manager this year. "We want to increase our distribution capability in the U.S.," Gilbert stated, declining to comment on reports that Aberdeen is bidding on Lincoln Financial Group's asset management arm, Delaware Investments. Aberdeen is not new to the U.S. asset management business or to M&A. Last summer Aberdeen closed on its acquisition of Nationwide Financial's active asset management arm, which gave its first 26 Aberdeen Funds in the U.S. Reuters' Claire Milhench also names Janus and Putnam as "consolidation players as they are sub-scale." It was not clear whether that meant they are potential buyers or sellers. In January, The MFWire reported that OppenheimerFunds was looking at buying Janus, and Franklin Templeton reportedly also eyed the Denver-based fund firm. Putnam CEO Bob Reynolds, meanwhile, has repeatedly told the press of his skepticism regarding asset management deals (though he has declined to completely rule acquisitions out as a possibility). Printed from: MFWire.com/story.asp?s=21912 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |