Ratings on Aberdeen Multi-Sector Funds not affected by strategy team changes

Standard & Poor’s Fund Services today stated that its ratings on the Aberdeen Multi-Asset Income and Aberdeen Capital Growth funds are unaffected following changes to Aberdeen Asset Management’s multi-sector strategy teams including Peter Elston’s appointment to the newly created role of head of Asia-Pacific strategy and asset allocation.

In this new role, Mr. Elston will be responsible for tactical asset allocation (TAA) and chair the Australian TAA committee, taking over from Anthony Michael. Following a period of transition, Mr. Michael will leave this team to focus on his role as head of Asian fixed income. Separately, Robert Penaloza, head of Australian equities is appointed to the Australian TAA committee and senior investment manager Mark Parry is appointed to the global strategy team.

Aberdeen has also advised that Leanne Bradley, senior investment specialist and portfolio manager for the local multi-strategy offerings, has resigned effective Jan. 16, 2012. Ms. Bradley’s responsibilities will be filled by the Singapore-based Mr. Elston, leaving the Australian multi-sector offerings without local management.