Buyers tip giant EM funds to reopen as market falls drive down AUM

Aberdeen's Emerging Markets equity franchise and First State Global Emerging Markets Leaders both effectively soft-closed to new investment last year when the two asset managers introduced initial charges of 2% and 4% respectively. Since then, however, the emerging market sell-off which first began last summer has accelerated, most notably at the start of 2014. Assets in the offshore Aberdeen Global Emerging Markets Equity fund, for example, peaked at $16.7bn (£10.1bn) when it soft-closed in February last year, according to FE data. Its asset base had subsequently fallen to $10.5bn...