abrdn to acquire £600m closed-end fund assets from First Trust Advisors

To be merged into existing funds

abrdn’s US arm is set to acquire £600m in assets from four closed-end funds managed by First Trust Advisors, subject to regulatory approval.

Under the deal, the four closed-end funds will be merged into existing abrdn funds. The abrdn Global Infrastructure Income fund will absorb the Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income fund, while the First Trust Specialty Finance and Financial Opportunities fund will merge into the abrdn Total Dynamic Dividend fund. abrdn to sell European private equity business for £100m Likewise, the First Trust High Income Long/Short fund and the First Trust/abrdn Global Opportunity Income fund will merge into the abrdn Income Credit Strategies fund.  The move ...