Aberdeen to replace Credit Suisse international equities team
Aberdeen Asset Management will replace Credit Suisse Asset Management's international equity funds investment team with its own global equities team when it completes the acquisition of Credit Suisse's assets at the end of April. Credit Suisse's international equities strategy is sub-managed by Capital International.
"The decision to manage these funds internally reflects our strong conviction in our investment process and our global equity team," said Aberdeen group head of equities and overseas regional business Hugh Young.
"This was a strategic decision, made after careful consideration, taking into account our current and future strategy in Australia and our successful global business model."
Morningstar Research placed the international equities fund 'on hold' in February after Aberdeen announced it would replace the fund with its own global equities strategy.
Morningstar met with Aberdeen "a few weeks ago" and will release a report on the fund and register the fund under the new Aberdeen manager at the completion of the acquisition, Morningstar senior research analyst Christopher Douglas said.
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