Aberdeen Investments successfully acquired US-based MFS Investment Management last week, for a combined assets under management of about £1.5bn.
The assets transitioning from MFS will be led by Jonathan Mondillo, Aberdeen’s global head of fixed income, and will focus primarily on the firm’s closed-end funds (CEFs) and bond range.
Under the terms of the acquisition, four of MFS’s municipal bond and one of Aberdeen’s municipal bond CEFs will be combined. On top of this, three MFS taxable bond funds will be combined. Finally, there will be a transition of investment contracts for two investment-grade fixed income trusts investing in global credit and government bonds.
Xavier Meyer, CEO of investments at Aberdeen, said: “The completion of this transaction marks another significant step in scaling our global closed-end fund business, as we continue to commit capital to opportunities that strengthen the platform, deepen our client relationships creating long term value to our business.”
Mondillo added: “This transaction and the assets that have transferred to Aberdeen greatly complement the full scope of our broad and experienced fixed income team.”
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