Aberdeen Asset Management is to merge with Standard Life,
forming the largest asset management company in the UK.
The agreement was confirmed following recent reports in
national news of a proposed merger, creating a “goliath” property asset
management firm, which has approximately £33.4bn under management.
It is thought that the deal will significantly strengthen
the financial position of both firms, which both suspended much of their UK activity
in the wake of the Brexit vote and sold many assets.
A statement from both firms read: “The
merger creates a diversified asset manager with complementary investment skills
and capabilities across all asset classes. Together, the combined group will
have a compelling and comprehensive product offering for clients and will be a
leader in active investing.
"The Combined Group will have strengths in developed and
emerging markets equities, multi-assets, fixed income, real estate and
alternatives, with deep levels of expertise across a wide range of investment
strategies and substantial scale, both in assets under management and
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