PHILADELPHIA, March 26, 2013 /PRNewswire/ -- Aberdeen Asset Management Inc. (" Aberdeen") today announced the launch of two new mutual funds: Aberdeen Latin American Equity Fund (Class A Ticker: ALEAX ) and Aberdeen European Equity Fund (Class A Ticker: AEUAX).
"Aberdeen Asset Management has been investing in Latin American and European equities for nearly three decades and the strategies represent part of the firm's core competencies," said Gary Marshall, Aberdeen's Chief Executive. "The launch of the new funds comes amid rising demand from Aberdeen's U.S. clients for global exposure at a regional level. Aberdeen is delighted to be able to expand our product offering and deliver these new strategies in the U.S."
The Aberdeen Latin American Equity Fund will be managed by the company's highly-regarded Emerging Markets Equity team, led by Devan Kaloo, Head of Global Emerging Markets Equities. By employing Aberdeen Asset Management's disciplined bottom-up equity investment process, the team will seek to achieve long-term capital appreciation by investing in equity securities of Latin American companies.The Aberdeen European Equity Fund will be managed by Aberdeen's Pan European Equity team based in London, led by Jeremy Whitley, Head of UK and European Equities. Also employing Aberdeen Asset Management's bottom-up equity investment process, the team seeks to achieve long-term capital appreciation by investing in equity securities of European companies. Devan Kaloo, Head of Global Emerging Markets at Aberdeen, comments: "With the developed world facing anemic growth rates, high unemployment and continued government austerity measures, we believe investors need to look to the developing world for opportunities and growth. In this regard, we believe that the outlook for Latin America is compelling. In our view, the region benefits from improved economic fundamentals, vast natural resources, a significant pool of consumers with favorable demographics, low public debt, and financially strong companies. We believe Latin America should not be overlooked in a well-diversified global portfolio. "By employing Aberdeen's rigorous, bottom-up equity investment process, we aim to identify Latin American companies that meet our strict quality criteria and, in our view, are attractively valued and offer prospects for long-term share price and dividend growth." Jeremy Whitley, head of UK and European Equities at Aberdeen, comments: " The crisis in the Eurozone has led many U.S. investors to avoid a European allocation. We believe that Europe as a whole is underappreciated and the time is right to gain exposure to strong global franchises by investing in quality European companies. In our opinion, Europe possesses many quality companies with strong business models, quality management teams and extensive intellectual capital, which are supported by strong corporate governance models and robust legal frameworks. While European governments may be in poor financial health, we feel that investors can find high-quality companies at attractive valuations across Europe." To learn more about the Aberdeen Latin American Equity Fund, visit: http://www.aberdeen-asset.us/aam.nsf/usretail/mutualequitiesLatinAmerican . To learn more about the Aberdeen European Equity Fund, visit: http://www.aberdeen-asset.us/aam.nsf/usretail/mutualequitiesEuropean . Concentrating investments in the European or Latin American region subjects the Fund to more volatility and greater risk of loss than geographically diverse funds.