Aberdeen merges funds

By Robert Stock Aberdeen Asset Management has confirmed that it is to merge its two equity in...

By Robert Stock Aberdeen Asset Management has confirmed that it is to merge its two equity income funds into the Murray Johnstone Oeic to avoid around £2m in stamp duty liabilities. The move, which is likely to take place during June or July, will merge the £391m Aberdeen High Income and the £184m Aberdeen Extra Income into the £56m Aberdeen Equity Income (ex-Murray Johnstone Equity Income) Oeic sub-fund. Aberdeen believes the plan will create a more marketable and less confusing equity income proposition for investors. The fund will carry the track record of the Aberdeen Extra...