At an extraordinary general meeting today (13 March), abrdn China's investors voted 99.99% in favour of the move, representing over 27.4 million votes. The merger was initially agreed back in November, which the trust suggested was in a bid to cut costs and increase the liquidity of the portfolios. abrdn Asian Income cuts management fees by 17% The combined trust will have net assets of around £1.2bn, with FIL Investment Management (Hong Kong), and current FCSS manager Dale Nicholls overseeing the newly merged vehicle. abrdn has been contacted about the future of managers Nichol...
To continue reading this article...
Join now
Login
Read more on investmentweek.co.uk