Aberdeen plans closed-ended LatAm income fund for Diment/Kaloo

Aberdeen is preparing to launch a closed-ended Latin American income fund for head of emerging market debt Brett Diment and head of global emerging markets Devan Kaloo.

The investment trust, which will be launched in conjunction with Canaccord Wealth Management, will hold bonds and equities and aim for an annual yield of 4.25%. The initial asset allocation within the portfolio will be 40% fixed income and 60% equities, though bonds are expected to account for 73% of income generated by the trust. It will be listed in Jersey and have a management fee of 1%. Income will be distributed on a semi-annual basis. The trust will be Aberdeen’s first launch focused on Latin America, although the group already runs £16.1bn of emerging market assets and a fur...