PHILADELPHIA, Feb. 14, 2012 /PRNewswire/ -- Aberdeen Asset Management Inc. has been awarded a European multi-manager mandate from the Employees Retirement System of Texas ("ERS of Texas").
The Pan-European portfolio will be constructed and managed by Aberdeen's property multi-manager team, whose investment philosophy is to focus on proactive sourcing, in-depth analysis and quality underlying investments. Aberdeen currently manages around $2 billion in European property multi-manager mandates, with further assets under management in Asia and the Americas.
Robert Sessa, Director of Real Estate for ERS of Texas, comments: "We believe the current market volatility in Europe will provide us with attractive risk adjusted investment opportunities. We look forward to working with the Aberdeen team."
Jon Lekander, Global Head of Property Multi-Manager for Aberdeen, comments: "We are very pleased with the decision from ERS of Texas in awarding us this mandate. We are seeing increasing interest from US institutional investors as they look to take advantage of opportunities afforded by market re-pricing in Europe and to diversify their property exposure into overseas markets."
Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management Inc., is an independently‐run asset manager listed on the London Stock Exchange since 1991. Aberdeen PLC and its subsidiaries are referred to collectively herein referred to as ("Aberdeen") or (the "Group"). The Group operates from 30 offices in 23 countries and invests on behalf of institutional and wholesale clients, primarily in equities, fixed income, alternative investment strategies and property. The Group manages more than US$270 billion of assets for both institutions and private individuals as of December 31, 2011.
Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers which are wholly owned by Aberdeen PLC: Aberdeen Asset Management Inc., Aberdeen Asset Management Investment Services Ltd, Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Ltd. (collectively, the "Aberdeen Advisers").
SOURCE Aberdeen Asset Management Inc.