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Aberdeen pushes into Austria

AUSTRIA - Aberdeen Asset Managers is in discussions with a handful of Austrian institutional investors as part of an effort to expand its business to Austria, according to Hartmut Leser, Aberdeen's German head.

Leser, who was persuaded by Aberdeen in January this year to leave consultancy Feri and start up the asset manager's Frankfurt office, told IPE this morning the company has six people in Austria who, since this autumn, have been focusing on business' development.

"We currently have a few things in the pipeline in Austria," said Leser, adding the branch is in the process of expanding by recruiting more people on the business development side.

According to Leser, three investors, mainly on the corporate pension fund side, are showing "real interest" in securities mandates, typically global equities and bonds.

Discussions are also ongoing concerning a property mandate and European and Asian fund of fund products, Leser told IPE.

Aberdeen will focus on core products in its new operation, as these are of most interest to German, Austrian and Swiss investors, he added.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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