Analysts at Canaccord Genuity have raised their price target for Aberdeen Asset Management by more than 10% following its deal to buy Scottish Widows Investment Partnership (SWIP).
Aberdeen Asset Management is the biggest faller in the FTSE 100 index on the first trading day of 2014, as investors take profits after a stunning run higher for the business recently.
Consolidation has been the watchword in the asset management sector this year and, consequently, the structure of the funds industry is changing as rapidly as the City skyline.
Scottish Widows Investment Partnership (SWIP) has switched pricing on its £2.5bn Property trust from a mid- to an offer-price basis after a surged in inflows.
Aberdeen's chief executive Martin Gilbert has committed the fund group to competing on a global scale after it secured the takeover of Scottish Widows Investment Partnership (SWIP) in a deal worth up to £650m.
Strategic bond managers are taking short-term positions in emerging market debt after the summer sell-off brought valuations back down to attractive levels.
Aberdeen has beaten off competition from Macquarie to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group in a deal worth up to £650m.