Aberdeen Asset Management is gearing up to launch four new funds, likely before the year-end, Alessandro Bronda, head of global property investor solutions at Aberdeen, told PropertyEU. ‘We will launch three residential funds, one each for Sweden, Denmark and Germany that will invest in a bit of everything because that creates diversity,’ Bronda said.
Aberdeen Asset Management is gearing up to launch four new funds, likely before the year-end, Alessandro Bronda, head of global property investor solutions at Aberdeen, told PropertyEU. ‘We will launch three residential funds, one each for Sweden, Denmark and Germany that will invest in a bit of everything because that creates diversity,’ Bronda said.
The German fund has a target size of around EUR 1 bn. The Swedish and Danish funds have a target size of around EUR 250 mln each, Pertti Vanhanen, head of fund management at Aberdeen, told PropertyEU.
The German fund will invest in Germany’s ‘Big Six’, including Frankfurt and Munich. The Swedish fund will concentrate on cities such as Stockholm, Gothenburg and Malmö, Vanhanen said, with the Danish fund concentrating on Copenhagen, Aarhus and Billund, he added.
In addition, Aberdeen will launch its third Asian fund - ‘Asia 3’ - later this quarter, Bronda said. The value-added fund, which has a target size of $500 mln, will invest in all assets classes. Other funds are also on the cards. Aberdeen is mulling the possibility of launching a global fund of funds, Bronda said. ‘Such a fund would offer good diversification for small investors.’ The target size of the fund has yet to be disclosed.
The fund manager will also have the second closing of its pan-European spezialfonds for German institutional investors before the year-end, Vanhanen said. ‘We are hoping to raise between EUR 80 mln and EUR 100 mln in this closing. With gearing, we expect to take the fund size to up to EUR 370 mln,’ he said.
