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Dec. 19, 2011 /PRNewswire/ -- Aberdeen Asset Management Asia Limited announced today that it assumed responsibility for the management of
The Asia Tigers Fund, Inc. (NYSE: GRR; "The Asia Tigers Fund" or the "Fund") from Blackstone Asia Advisors L.L.C., the Fund's former investment manager. The Asia Tigers Fund
is a closed-end investment company with current total assets of
$52.8 million (as of
November 30, 2011) and its investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Asian companies. There can be no assurance the Fund will achieve its investment objective.
Expertise in Asia"We are truly delighted to assume responsibility for The Asia Tigers Fund. We look forward to bringing our long-established investment process throughout the Asia-Pacific region to the Fund's shareholders," says
Hugh Young, Managing Director and Head of Aberdeen Asian Equities, an affiliate of Aberdeen Asset Management Asia Limited.
"Aberdeen established its presence in Asia in 1991 when we set up our Asian regional headquarters in Singapore and we have expanded our capabilities throughout the region ever since. Our investment managers have visited more than 1,670 companies across the Asia-Pacific region in 2011 alone and the benefits of that in-depth company due diligence are part of what we can bring to The Asia Tigers Fund shareholders."
Aberdeen Asset Management PLC ("Aberdeen") is the parent company of the asset management group managing assets for both institutional and private clients from offices around the world. Aberdeen Asset Management Asia Limited, based in
Singapore and a subsidiary of Aberdeen, is the Fund's manager. Aberdeen's Asian operations include more than 150 investment professionals based in
Kuala Lumpur and