InvestmentsNov 21 2013

Edinburgh Dragon trust manager exits Aberdeen

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by

Aberdeen Asset Management’s Andrew Gillan has quit the firm after 12 years at the company, Investment Adviser can reveal.

Mr Gillan is a senior investment manager on Hugh Young’s successful Asian equities team based in Singapore, and manages the £626.9m Edinburgh Dragon investment trust. He is set to move to another Singapore-based fund management company in December.

The trust will now be run by Adrian Lim, who Aberdeen said has been a co-manager with Mr Gillan on the product. A spokesperson for Aberdeen said the group would be looking to appoint another manager from within the existing team to work with Mr Lim on the trust.

In five years the trust’s share price has gained 171.5 per cent, compared with its MSCI All Countries Asia Pacific ex Japan index benchmark, which rose 150.3 per cent. It currently trades at a discount of 9.3 per cent to the value of its portfolio.

A spokesperson for Aberdeen said: “Although Andrew has been a senior member of our Asian equity team, our practice has always been to cross-cover research and portfolio responsibilities.

“With 41 full-time equity managers around the region including 14 based in Singapore and 10 with more than 10 years’ continuous experience with Aberdeen alone, we have one of the largest, best-resourced teams in the region. It is our firm intention to continue to build it from the ground up.”