Aberdeen pulls in over $1 bln from Japan fund deal

* Funds flow into global equity, emerging equity products

* Money invested by Japan corporate pension funds

By Chikafumi Hodo and Joel Dimmock

TOKYO/LONDON, May 19 (BestGrowthStock) – British fund firm Aberdeen
Asset Management (ADN.L: ) has pulled in over 100 billion yen
($1.1 billion) from a fund sales deal in Japan, an official at
its local partner said.

The flows into global equities and emerging equities
products have come in a little over a year and will act as a
benchmark for firms mulling deals in Japan, as well as hardening
Aberdeen’s hopes for a similar deal in the United States.

Aberdeen agreed a fund distribution deal with Mitsubishi UFJ
Trust and Banking Corp (8306.T: ) in October 2008 as part of a
transaction which saw Mitsubishi become a major shareholder.

The Mitsubishi official said sales have flowed from Japanese
corporate pension funds largely into the emerging equities
strategy launched in March 2009. The global equities product
followed in September.

A spokesman for Aberdeen said the credit crisis had forced
the venture to be patient. He would not confirm the level of
inflows achieved, saying only that sales had exceeded the
group’s target by “a significant amount”.

Katrina Hart, an analyst at Canaccord Adams, said the news
threw up other possibilities. “You could not call it a
shoot-the-lights-out number. But I do think that it shows the
potential for similar deals both by other asset managers looking
to get into the Japanese market, and also for distribution deals
that Aberdeen might contemplate in other regions,” she said.

U.S. and European asset management firms and hedge funds are
targeting new business in Asia to spur growth amid a slow return
of clients in western markets.

The news will be of particular interest to Aberdeen rival
Standard Life Investments (SL.L: ), whose chief executive told
Reuters in February he was looking closely at the Mitsubishi
venture to gauge the value of a similar deal for his company.
[ID:nLDE61H104]

Aberdeen said earlier this month that net flows to equities
products were close to 7 billion pounds ($10 billion) in the six
months to end-March, and, although fixed income outflows
outweighed this, higher margins on money coming in boosted the
bottom line.

Mitsubishi UFJ Trust and Banking Corp owns a 17 percent
stake in Aberdeen. It is the second largest shareholder in the
company behind Credit Suisse (CSGN.VX: ).

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(Editing by Dan Lalor)
($1 = 92.90 yen = 0.7017 pound)

Aberdeen pulls in over $1 bln from Japan fund deal