Aberdeen Asset Management is converting its £3.5bn Property Trust to a property authorised investment fund (PAIF) structure, bringing it in line with a number of peers in the market.
The investment remit, strategy and risk profile of the trust, co-managed by Gerry Ferguson, James McLean, and Tim Sanker, will not change following the conversion, which is sheduled for 4 March. From that date the company will also introduce a new, fixed charge called the "operating, administrative and servicing fee" for the PAIF and a number of other Aberdeen operated funds, to replace the existing, fluctuating fee. In a client communication seen by Investment Week, the group said: "The change from a fluctuating to a fixed fee structure is being implemented across a significant numbe...
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