The £80m Seneca Global Income & Growth trust has reduced its holding in the £390m Aberdeen Asian Income trust in favour of a new position in the open-ended $366.1m Samarang Asian Prosperity fund, as it wants to back "asset managers not asset gatherers".
The Seneca trust, co-managed by Tom Delic, has taken a new position in the small cap pan-Asian fund, which is run by Andbank Asset Management's Greg Fisher, which is more favourable than the Aberdeen portfolio...
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