AAM hires for property fund
Aberdeen Asset Management is looking to expand its property business in Asia with a real estate fund of funds.
The Scotsman says the group has hired Kang Pauay Ju to manage the planned AIPP Asia fund on behalf of its Aberdeen Property Investors (API) division.
Based in Singapore, Kang will identify, evaluate and manage investment opportunities for AIPP Asia and likely hire in to do so.
Hugh Young, managing director of Aberdeen Asset Management Asia, said the move would increase Aberdeen's ability to cross-sell products between Europe and Asia.
AAM is also opening an office in Tokyo on 4 September where it will provide advisory services. Wealthbriefing.com says part of the Japan equity fund management team, presently based in Singapore, will transfer to the new office.