HedgeCo.Net

West Palm Beach (HedgeCo.net) - Research and Markets has announced the addition of the "High Net Worth Alternative Investments" report to their offering.

The report identifies demand for hedge funds, capital protected funds, private equity funds and real estate funds from high net worths, The scope of the report covers France, Germany, Italy, Spain, UK, Nordic region, Belgium/Netherlands, Switzerland, Australia, China, India, Hong Kong, Singapore and Taiwan.

Includings hedge funds, capital protected funds, private equity funds and real estate funds (open ended and closed ended) thr peport shows the results of the Wealth Management Market Leaders survey of 280 wealth management companies worldwide, and on high net worths (those with more than $1m in onshore liquid assets)

HNW alternative investment asset allocations are expected to decline slightly in both Australia and France in the next two years, as high net worths reposition their portfolios. Real estate allocations and commodities allocations will decline among Australian HNWs while both hedge fund and derivative allocations will increase.

While British HNWs plan to increase their exposure to capital protected products and private equity funds, and their wealth managers will devote significant resources to the development of these product areas, they are failing to anticipate their clients demand for closed-ended real estate funds.

At the same time German wealth managers are focusing strongly on capital protected products which, while certainly in demand by most HNWs, will not see a significant increase in terms of portfolio allocations.

Tags: alternative investment, alternative investments, asset allocations, australia china, belgium netherlands, hedge fund, hedge funds, hong kong singapore, investment asset, liquid assets, management market, market leaders, nordic region, palm-beach, private-equity-funds, product areas, significant resources, wealth management companies, wealth managers, west palm beach

West Palm Beach (HedgeCo.net) - Hedge fund manager, Aberdeen Asset Management PLC, has entered into an agreement with Credit Suisse to acquire their £40 billion ($58 billion) long-only asset management arm, making Aberdeen the the UK’s largest listed fund manager.

Credit Suisse sold the fund arm for approximately 240 million shares in Aberdeen, valued at £250 million ($363 million). The closing of the deal is to take place on 30 June 2009,  subject to shareholder and regulatory approval.

Aberdeen’s largest hedge fund shareholder, Martin Hughes, Chief Executive of Toscafund, said, “Toscafund has already confirmed its support for this transformational acquisition, which has been made possible by the excellent operating platform offered by Aberdeen. Toscafund believes that the transaction is of clear benefit to the clients and shareholders of Aberdeen Asset Management and Credit Suisse.”

The acquired business is a long-only traditional asset manager with a leading presence in Europe, Asia and Australasia. It offers a broad product range, diversified predominantly across fixed income, money market and equities, with a variety of investment styles that will be integrated into Aberdeen’s investment processes. Its products are sold primarily to third party clients, with a significant minority of assets sourced through Credit Suisse’s Private Banking division, one of the world’s largest wealth managers.

Aberdeen has agreed an extension of the existing distribution agreement with Credit Suisse, this will give Aberdeen greater access to the banking network of Credit Suisse.

With the new acquisition, Aberdeen has opportunity to achieve greater scale in certain markets where the Group already has a presence, such as the UK, Australia, Germany, Switzerland and Japan. The Acquisition will also strengthen Aberdeen’s offering in certain product areas

“The acquisition confirms Aberdeen’s position as a leading global asset manager and provides us with greater access to the distribution network of Credit Suisse and its Private Banking division, one of the world’s largest wealth managers." Martin Gilbert, Chief Executive of Aberdeen, said, “This transaction fits perfectly within our strategy, a key part of which has been to make earnings enhancing acquisitions which give the business critical mass in our core competencies, complementing our organic growth."

“Given our proven track record of integrating businesses, we are well placed to ensure a smooth transition of the Credit Suisse assets to Aberdeen. We look forward to welcoming our new colleagues and clients, and also to welcoming Credit Suisse as a significant shareholder in Aberdeen. We believe that this transaction will be for the long-term benefit of all our shareholders.”

Alex Akesson

Tags: aberdeen asset management, asset-manager, banking network, credit-suisse, distribution agreement, europe asia, germany switzerland, global asset, investment-styles, management arm, management-plc, martin-hughes, palm-beach, party clients, private-banking, product areas, regulatory approval, wealth managers