ASI to review property strategy in wake of M&G suspension - reports

Group will rethink retail exposure

Aberdeen Standard Investments (ASI) is set to shake up its property investment strategy under its new global head of real estate, according to reports.

In the wake of the suspension in trading of the M&G Property Portfolio, Aberdeen said it would rethink its exposure to retail assets and look to diversify its property business, The Times reported. ASI appointed Neil Slater, former CEO of its Japanese business, to the role as head of its real estate division, which oversees £43bn of assets around the world, six weeks ago. And Slater's first job will be to review the division's strategy and capabilities as its £1.2bn UK property fund has come under pressure. It was recently reported by the FT that the fund saw outflows of £31m on the d...