Aberdeen to launch fourth Asia Pacific property fund of funds

Aberdeen Asset Management is set to launch a new Asian property fund of funds, after closing its third investment vehicle targeting the region having raised more than £300m.

The new fund, to be named Aberdeen Asia Enhanced Core Property fund of funds, will target an annual return of 8%-10% and will focus more heavily on developed markets and lower risk strategies than its predecessor. The launch is planned for the first quarter. The group shut the third fund in the Asia Pacific range - which invests across the risk spectrum and targets a return of at least 13% per annum - having raised £308m in total. The Singapore-based management team is led by Puay Ju Kang, and invests on behalf of a number of segregated multi-manager mandates on top of property funds ...