Investors have voted against two fund mergers proposed by Aberdeen Asset Management as part of its ongoing rationalisation process.
The Scottish group failed to get approval for the merger of its £54m Multi-Manager Diversity fund into its Multi-Manager Diversified Assets Portfolio, and its £12m UK Flexible Strategy into its Multi-Asset fund. The mergers were intended as part of the company's ongoing fund rationalisation process, which has seen it attempt to reduce the number of umbrella investment companies containing different sub-funds, and merge similar products. Aberdeen AM acquires DFM and platform Parmenion It comes after the company acquired Scottish Widows Investment Partnership (SWIP) last May for £550...
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