Aberdeen removes Celfin as subadviser to Latin American, Chile Funds

By Toni Weeks

San Diego, Dec. 7 - Aberdeen Asset Management Investment Services Ltd. said that Celfin Capital Servicios Financieros SA will no longer be the subadviser of the Aberdeen Chile Fund, Inc. and the Aberdeen Latin American Equity Fund, Inc. as of Feb. 4.

According to a press release, Aberdeen became the adviser to both funds in July 2009 and has continued to develop its operations and research coverage in the South American region since then. It now has the resources to manage the funds without Celfin's assistance going forward.

The funds' investment objective, primary investment strategies, primary risks and management expenses will not change as a result of the management change, the release noted.

The investment firm is based in Philadelphia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.