Aberdeen completes transition of U.S. closed-end fund assets from MFS
Aberdeen, manager of Aberdeen Intermediate Income Fund, completed the transition of about $2 billion in U.S. fixed income and municipal bond closed-end fund assets from MFS on July 3.
Assets were consolidated through mergers, creating a roughly $1 billion municipal bond closed-end fund and a roughly $0.8 billion multi-sector fixed income closed-end fund.
Aberdeen also took over advisory contracts for two taxable investment grade fixed income closed-end funds with about $314 million and $105 million in assets.
Oversight of the transferred assets will be led by Jonathan Mondillo, Aberdeen’s global head of fixed income.
Aberdeen said it manages about $29 billion in closed-end funds globally, ranking fifth by assets as of July 2.
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