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AFMF 'supportive' of investment manager takeover

15 September 2015 09:13

Advance Frontier Markets Fund says it is supportive of an agreed takeover of its investment manager Advance Emerging Capital by Aberdeen Asset Management.

The transaction is subject to regulatory approval from the UK Financial Conduct Authority and is expected to complete during the fourth quarter of 2015.

AFMF says the investment management team of AEC will remain unchanged and AEC is expected to benefit from the significant additional resources available from within Aberdeen.

At 9:13am:

(LON:ADN) Aberdeen Asset Management PLC share price was -2.95p at 309.45p

(LON:AFMF) Advance Frontier Markets Fund Ltd share price was +0.13p at 51.75p

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