Aberdeen merger rejected by shareholders

The proposed merger of two Aberdeen funds has been rejected by shareholders as they didn’t feel the funds were complementary.

Aberdeen proposed merging the Multi-Manager Diversity fund into the Multi-Manager Diversified Assets Portfolio and the UK Flexible Strategy fund into the Multi-Asset fund, but shareholders rejected both.

Aberdeen has suceeded in merging 26 other funds recently, as part of the ongoing integration of the Scottish Widows Investment Partnership business it bought last year.

Aberdeen is now considering whether it will put the fund merger votes to shareholders again.