PHILADELPHIA, March 26, 2013 /PRNewswire/ -- Aberdeen Asset Management Inc. ("Aberdeen") today announced the launch of two new mutual funds: Aberdeen Latin American Equity Fund (Class A Ticker: ALEAX ) and Aberdeen European Equity Fund (Class A Ticker: AEUAX).
"Aberdeen Asset Management has been investing in Latin American and European equities for nearly three decades and the strategies represent part of the firm's core competencies," said Gary Marshall, Aberdeen's Chief Executive. "The launch of the new funds comes amid rising demand from Aberdeen's U.S. clients for global exposure at a regional level. Aberdeen is delighted to be able to expand our product offering and deliver these new strategies in the U.S."
The Aberdeen Latin American Equity Fund will be managed by the company's highly-regarded Emerging Markets Equity team, led by Devan Kaloo, Head of Global Emerging Markets Equities. By employing Aberdeen Asset Management's disciplined bottom-up equity investment process, the team will seek to achieve long-term capital appreciation by investing in equity securities of Latin American companies.
The Aberdeen European Equity Fund will be managed by Aberdeen's Pan European Equity team based in London, led by Jeremy Whitley, Head of UK and European Equities. Also employing Aberdeen Asset Management's bottom-up equity investment process, the team seeks to achieve long-term capital appreciation by investing in equity securities of European companies.
Devan Kaloo, Head of Global Emerging Markets at Aberdeen, comments:
"With the developed world facing anemic growth rates, high unemployment and continued government austerity measures, we believe investors need to look to the developing world for opportunities and growth. In this regard, we believe that the outlook for Latin America is compelling. In our view, the region benefits from improved economic fundamentals, vast natural resources, a significant pool of consumers with favorable demographics, low public debt, and financially strong companies. We believe Latin America should not be overlooked in a well-diversified global portfolio.
"By employing Aberdeen's rigorous, bottom-up equity investment process, we aim to identify Latin American companies that meet our strict quality criteria and, in our view, are attractively valued and offer prospects for long-term share price and dividend growth."
Jeremy Whitley, head of UK and European Equities at Aberdeen, comments:
"The crisis in the Eurozone has led many U.S. investors to avoid a European allocation. We believe that Europe as a whole is underappreciated and the time is right to gain exposure to strong global franchises by investing in quality European companies. In our opinion, Europe possesses many quality companies with strong business models, quality management teams and extensive intellectual capital, which are supported by strong corporate governance models and robust legal frameworks. While European governments may be in poor financial health, we feel that investors can find high-quality companies at attractive valuations across Europe."
To learn more about the Aberdeen Latin American Equity Fund, visit: http://www.aberdeen-asset.us/aam.nsf/usretail/mutualequitiesLatinAmerican.
To learn more about the Aberdeen European Equity Fund, visit: http://www.aberdeen-asset.us/aam.nsf/usretail/mutualequitiesEuropean.
Concentrating investments in the European or Latin American region subjects the Fund to more volatility and greater risk of loss than geographically diverse funds.
Latin American countries may be subject to a greater degree of political, sovereign and economic instability than is the case in the United States and Europe. The developing nature of securities markets in many countries in the Latin American region may lead to a lack of liquidity.
A number of European countries have experienced and continue to experience severe economic and financial difficulties. Financial markets in Europe have experiences extreme volatility and declines in asset values and liquidity. These difficulties may continue, worsen or spread within and outside Europe.
Emerging Markets risks are greater for securities of companies in emerging markets countries because the countries may have less stable governments, more volatile currencies and less established markets.
Foreign securities are more volatile, harder to price and less liquid than U.S. securities. They are subject to different accounting and regulatory standards, and political and economic risks. These risks are enhanced in emerging markets countries.
Equity stocks of small and mid-cap companies carry greater risk, and more volatility than equity stocks of larger, more established companies.
Derivatives are speculative and may hurt the Fund's performance. They present the risk of disproportionately increased losses and/or reduced gains when the financial asset or measure to which the derivative is linked changes in unexpected ways.
Investing in mutual funds involves risk, including possible loss of principal. There is no assurance that the investment objective of any fund will be achieved.
Please read the prospectus for more detailed information regarding these risks.
Investors should carefully consider a fund's investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other fund information, please call 866-667-9231 to request a summary prospectus and/or statutory prospectus, or download at www.aberdeen-asset.us. Please read the summary prospectus and/or the statutory prospectus carefully before investing any money.
Aberdeen Asset Management
Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management Inc. ("AAMI"), an independently-run asset manager, has been listed on the London Stock Exchange since 1991, and is currently operating from 31 offices in 23 countries. AAMI and its affiliates invest on behalf of institutional and wholesale clients, primarily in equities, fixed income, alternative investment strategies and property. AAMI and its affiliates manage more than US$314.3 billion of assets for both institutions and private individuals as of December 31, 2012.
Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers: AAMI, Aberdeen Asset Management Limited and Aberdeen Asset Management Asia Limited (collectively, the "Aberdeen Advisers"). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC.
SOURCE Aberdeen Asset Management Inc.