PHILADELPHIA, Jan. 8, 2013 /PRNewswire/ -- Aberdeen Asset Management Inc. announced that Aberdeen Asset Management Asia Limited has assumed responsibility for the management of The Greater China Fund, Inc. (NYSE: "GCH") effective January 9, 2013 following the special meeting of stockholders held on January 8, 2013. The Greater China Fund, Inc. is a closed-end investment company listed on the New York Stock Exchange with current total assets of approximately $325 million.
Expertise in Asia-Pacific Region "We are delighted that the Fund's shareholders have approved Aberdeen's appointment as Fund manager," says Gary Marshall, Head of Americas at Aberdeen. "We look forward to bringing our knowledge and experience of investing in China and the greater Asia-Pacific region to the Fund. Aberdeen established its presence on the ground in Asia in 1992 when it set up its Asian regional headquarters in Singapore and we've expanded our capabilities throughout the region ever since: Aberdeen's first dedicated Chinese equity fund was originally launched in 1992. Every year, Aberdeen investment managers visit more than 1,000 Asian companies, including those in China."
Aberdeen Asset Management PLC ("Aberdeen") is the parent company of an asset management group managing assets for both institutional and private clients from offices around the world. Aberdeen Asset Management Asia Limited serves as head office of Aberdeen's Asian operations with investment professionals in offices in Bangkok, Hong Kong, Singapore, Sydney, Taiwan, Tokyo, and Melbourne.Leader in Emerging Market Closed-End Funds Aberdeen's subsidiaries (the "Aberdeen Group") have managed U.S. registered closed-end funds since December of 2000. In addition to being one of the largest pure standalone asset management houses investing in the Asia-Pacific region, Aberdeen is the largest manager of emerging market closed-end funds offered around the world by both value and number. Including The Greater China Fund, Inc., the Aberdeen Group now manages 12 NYSE/ NYSE MKT-listed closed-end funds, one Canadian investment company and serves as investment sub-advisor to two other closed-end funds managed by First Trust Advisors L.P.