Aberdeen launches second global smaller companies fund
Aberdeen launches Luxembourg-domiciled global smaller companies fund.
Aberdeen Asset Management has launched an offshore global smaller companies fund to be managed by its global equities team based in Edinburgh.
The Aberdeen Global – World Smaller Companies fund will invest in 40-60 stocks, focusing on companies with market capitalisations of less than $5bn (£3.2bn).
The fund will have a minimum investment of $1,500 and carry an annual management charge (AMC) of 1.5 per cent.
It is based on an existing US domiciled mutual fund managed by the global equities team that follows the same strategy.
Stephen Docherty, head of global equities at Aberdeen, said: “The benefits of investing globally are now ingrained with many investors as they seek diversification and to capitalise on the opportunities available around the world.
“However, so far much of their focus has understandably been on large cap companies. Smaller companies can be a complementary element of portfolios providing exposure to an under researched asset class that behaves differently to core global equity strategies.”
The £151.9m Aberdeen UK Smaller Companies fund has delivered third-quartile results over the five year period to August 10, ranking 32 out of 52 companies in the IMA UK Smaller Companies sector, according to Morningstar.