Aberdeen

Aberdeen's chief executive Martin Gilbert has committed the fund group to competing on a global scale after it secured the takeover of Scottish Widows Investment Partnership (SWIP) in a deal worth up to £650m.

The leading US equity markets hit fresh record highs on Monday, suggesting a ‘Santa rally' is well underway in the run up to Christmas.

Aberdeen CEO Martin Gilbert has said Lloyds Banking Group's plan to boost its wealth management capabilities is a crucial factor in the fund manager's deal to buy SWIP, but refused to be drawn on possible job cuts.

Aberdeen has beaten off competition from Macquarie to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group in a deal worth up to £650m.

A number of smaller investment trusts have been forced to cancel expansion plans as larger vehicles continue to dominate the market.

FUND MANAGER FOCUS

A planned deal which would create one of the largest asset managers in Europe grabbed our readers' attention this week.

Aberdeen Asset Management has said it is in discussion with Lloyds Banking Group over a possible acquisition of Scottish Widows Investment Partnership.

Multi-asset investors are returning to Chinese equities, as fears of a ‘hard landing' subside and the local economy shows signs of improvement.

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