Aberdeen funds added to ASX mFund service

Aberdeen Asset Management managing director Brett Jollie said mFund will contribute to helping investors achieve greater diversification of their self-directed investments.

“Our efforts to promote Aberdeen’s funds into this new market segment will assist in meeting this demand for ongoing investor education,” Mr Jollie said.

Aberdeen Asset Management said the mFund service will “complement” its existing strategy which relies on advisers and platforms to distribute more than 20 funds to Australian investors.

“The Aberdeen funds offered on the new service cover a range of asset classes – emerging market equities, Asian equities, global equities (including a hedged option) and diversified fixed income,” a statement from Aberdeen Asset Management said.

ASX head of customer and business development Ian Irvine said the mFund settlement service provides an opportunity for investors to access a broader range of investment assets in a familiar way.

“This can assist in achieving greater diversification, which in turn can help to manage portfolio risk,” Mr Irvine said.

Aberdeen Australia as of 30 June 2014 has a total of $17 billion in assets under management, while the Aberdeen Group, which has offices in 25 countries around the world, has over $584 billion in assets under management.