Aberdeen absorbs $2.2B of Nationwide Funds

The company completed the reorganization of $2.2 billion in assets of 26 Nationwide Funds into newly created Aberdeen Funds.
JUL 01, 2008
Aberdeen Asset Management Inc. today announced the completion of the reorganization of $2.2 billion in assets of 26 Nationwide Funds into newly created Aberdeen Funds. The move was the final step in a two-step transaction after West Conshohocken, Pa.-based Aberdeen Asset Management acquired Nationwide Fund Advisors’ active equity investment management business in October 2007. Nationwide Fund Advisors is a subsidiary of Columbus, Ohio-based Nationwide Financial Services Inc. "Aberdeen's acquisition of the 26 Nationwide Funds provides an established mutual fund platform for us to build on and to offer a wide range of mutual fund offerings, managed by highly regarded investment teams, to the U.S. marketplace," Martin Gilbert, chief executive officer of Aberdeen (Scotland) Asset Management PLC, parent company of Aberdeen, said in a statement. As of March 31, Aberdeen Asset Management had $46 billion in assets under management.

Latest News

Retiree alleges advisor withheld $600K through real estate LLC web
Retiree alleges advisor withheld $600K through real estate LLC web

$1.7M invested from an inheritance. Then the phone went dead.

SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception
SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception

The pre-IPO platform sold $430M in units while allegedly rigging prices behind the scenes.

GLP-1 users are trading retirement savings for their prescriptions
GLP-1 users are trading retirement savings for their prescriptions

A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.

Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors
Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors

The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.

Class action alleges Webull misled investors about China operations
Class action alleges Webull misled investors about China operations

Its SEC filings said one thing - a congressional probe said another.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor