The Hong Kong-based fund house has promoted internally to fill the role, amid an ongoing management reshuffle.
Aberdeen Asset Management has been suffering from large net Asian outflows amid souring investor sentiment towards emerging markets, the British fund house said yesterday.
The funds will target distressed assets in India and other Asian special situations and credit assets, says a source, amid rising demand for private debt.
The firm’s former Greater China head moved on shortly before the arrival of Mark Speciale last month as Asia-Pacific head of institutional business.
Firms with less than $10 billion in Asia-Pacific AUM will need a strong discretionary business to run a profitable operation, say experts. Use of technology will also play a big part.
The Hong Kong-based insurer’s chief investment officer, Paul Carrett, says his industry is slow to benefit from new opportunities. He wants to be different.