The firm took over investment management responsibility of the $979m India Fund and the $50.7m Asia Tigers Fund (as at 19 December, according to Morningstar factsheets) last week.
As part of the transfer Aberdeen is paying Blackstone $8m, with a further contingent payment of up to $4m. Run rate fee income from these contracts is approximately $8m.
Hugh Young, managing director of Aberdeen Asset Management, said: "These two closed-end funds are welcome additions to a successful part of Aberdeen’s business. Aberdeen established its presence in Asia in 1991 when we set up our Asian regional headquarters in Singapore and we have expanded our investment capabilities throughout the region ever since.
"Closed-end funds, one of the oldest types of investment vehicle, have been a key focus of Aberdeen since the firm was founded and an important part of our growth."
The addition of the two funds brings Aberdeen’s US-domiciled investment trust range to 11 funds, most of which are focused on emerging markets.
The funds are listed on the New York Stock Exchange and are managed by Aberdeen’s subsidiary the Aberdeen Group.
Aberdeen also has one Canadian investment company and serves as investment sub-adviser to two other closed-end funds managed by First Trust Advisers.
Its UK-domiciled closed-end range has approximately 25 funds in it, also with a strong focus on emerging markets and additionally UK income.
