Gerry Ferguson will leave the business this summer, the firm said in a statement to investors.
Tim Sankey, deputy lead fund manager, has taken over as lead fund manager on the fund, effective immediately.
Ferguson (pictured) will remain with the company until he leaves to ensure a smooth transition of responsibilities.
Aberdeen Standard Investments said it had been aware of Ferguson’s desire to leave for some time and Sankey’s appointment as deputy lead fund manager in early 2017 was made in preparation of this occurring.
Sankey joined Aberdeen Asset Management in 2003 and has worked on the Aberdeen UK Property fund since 2014.
The firm said there will be no changes to portfolio positioning, investment process or philosophy because of the handover.
Mike Hannigan, head of real estate UK at Aberdeen Standard Investments, said: “Gerry has made a significant contribution to the business, and in particular the Aberdeen UK Property fund, over his many years of service at SWIP, Aberdeen Asset Management and latterly Aberdeen Standard Investments.
“He has decided to retire from the industry but is staying until the summer in order to ensure a smooth transition of responsibilities for our clients. I would like to thank Gerry personally for his contribution to the business over the past 18 years.”
Ferguson added: “I have had an amazing 43 years in the property industry. I have weathered many market cycles on behalf of investors and witnessed the evolution of property as an asset class. My decision to retire and step down from the role managing the Aberdeen UK Property fund was difficult to make but made easier given the experience and knowledge of Tim and the strength of the broader team. The fund is in good hands.”
Sankey said: “Gerry will be a hard act to follow, but I’m confident given the resources and team at the fund’s disposal it will continue to prosper.”
