Standard & Poor’s Fund Services has today placed the Aberdeen Capital Growth Fund ‘On Hold’ following Aberdeen Capital’s announcement that this fund will change its strategy and undergo a name change.
From September 1, Aberdeen Capital will rename this fund the Aberdeen Multi-Asset Real Return Fund, and it will be managed to achieve an objective-based absolute return outcome equivalent to the Consumer Price Index plus a margin of 5%.
“The fund currently adopts a more traditional multi-sector approach to portfolio construction, adhering to a predetermined asset mix in pursuit of an investment outcome that is expected to comprise largely capital growth,” said S&P Fund Services analyst Andrew Yap.
“To achieve this revised outcome, the manager will adopt a dynamic approach to asset allocation, deviating from the existing SAA+ tactical overlay approach. As a consequence, existing portfolio positions will be subject to change,” said Mr Yap.
If existing Aberdeen Capital Growth Fund investors take no action, they will automatically be transferred to the revised Real Return Fund. Investors should seek independent financial advice to determine whether this fund’s revised investment approach remains consistent with their existing risk/return expectations and how this change might affect their overall investment portfolio.