SLI buys controlling stake in FoHFs manager

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SLI is to buy 75.1% stake in fund of hedge funds manager Aida Capital.

The £139bn manager says acquiring the controlling stake in Adia, subject to regulatory approval, will give the group's clients access to a wider range of alternative assets. Aida currently manages the Guernsey-based Aida Open-Ended fund and the Aida Closed-Ended fund, listed on the London Stock Exchange. The group's existing management team will continue to manage these funds as well as creating and managing fund of hedge fund products for Standard Life Investments and its clients. SLI chief executive Keith Skeoch says: "Standard Life Investments already has a strong track record i...

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