Aberdeen to launch income orientated Latin American trust

Aberdeen Asset Managers has announced the launch of an income orientated Latin American investment trust.

Brett Dimnet
Brett Dimnet

The Aberdeen Latin American Income fund will be managed Devan Kaloo and Brett Dimnet, the respective heads of the group’s emerging market equity and debt teams.

The fund, which is the first of its kind, will initially have approximately 60% of the portfolio invested in listed equities, with the balance invested in sovereign bonds.

In terms of the equity portfolio, Kaloo will focus on growth-orientated stocks, while Diment’s bond portfolio will be expected to provide the majority of the income. (article continues below)

The initial target for the annual dividend yield is 4.25%, which Aberdeen aims to grow over time.

The fund will be domiciled in Jersey and listed and traded on the London Stock Exchange. The public offer and prospectus is expected to be available at the start of July.