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Shares fall further

Standard Life Aberdeen investor sells stake for £350m

Standard Life AberdeenStandard Life Aberdeen’s biggest shareholder has sold a stake in the Edinburgh-headquartered business worth almost £350 million, putting added pressure on the asset manager’s share price.

Japanese financial giant Mitsubishi UFJ Trust and Banking Corporation, which controlled a 6% interest in SLA, sold its 148.6 million shares on 15 February.

The news sent SLA’s 6% lower to end last week on 233.75p. It extends their loss over the last 12 months to 44%.

The disposal means the company has lost its two biggest investors in less than a year after Lloyds sold its £344m holding last summer.

Mitsubishi bought a 10% stake in what was then Aberdeen Asset Management through a strategic alliance in 2008. It gave the firm exclusive rights to distribute Aberdeen’s product range to Japanese institutional investors.

MUFG said in a statement the decision was part of its programme to improve efficiency as part of its ‘re-imagining strategy’ announced on 15 May 2017.

Acquisition in Far East

Aberdeen Standard Investments has acquired Orion Partners, an Asian real estate investment management firm that will bolster its real estate presence and investment capability in Japan, Korea, Hong Kong and Singapore.

It will also deepen Aberdeen Standard’s local insights and broaden its direct real estate product suite across a spectrum of assets including office, retail and aged care.

Aberdeen Standard said its real estate multi-manager business has invested with Orion Partners in Asia Pacific for more than a decade.

Orion Partners, which has offices in Hong Kong, Tokyo, Seoul and Singapore, managed about $900 million of direct real estate investments in Asia for global institutional investors as of the end of December 2018.

Aberdeen Standard did not disclose the terms of the transaction, but said the acquisition adds to the company’s $56.3 billion (£43.9 billion) global real estate franchise.

See also:


Standard Life Aberdeen in talks to sell Edinburgh HQ

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