Aberdeen overhauls mandate on Infrastructure fund

Aberdeen Asset Management has moved to make its Infrastructure fund more exposed to emerging market listed companies as part of an overhaul of its offshore range.

The group has changed the remit of the $419m Luxembourg-domiciled fund, allowing it to invest more in emerging markets than developed ones.

Previously at least 25% of the fund needed to be invested in developed market listed companies, but under the new remit 75% of the fund must now be invested in developing market listed companies.

The change has seen exposure within the fund, which is available to UK investors but only via a dollar share class, reduced from 25% in developed market equities to 22.5%.

Aberdeen said the change would give the fund more flexibility.

The offshore range has also undergone a name change for nine funds.

As part of the changes, the Infrastructure fund has become the Emerging Markets Infrastructure fund, while Dividend Europe has become European Equity Income.