LONDON (dpa-AFX) - Aberdeen Group plc (ABDN.L) on Friday said it has agreed with MFS Investment Management, to acquire the management of closed-end fund (CEF) assets totaling £1.5 billion.
Under the plan, four MFS municipal bond CEFs and one Aberdeen municipal bond CEF will be combined to form a municipal bond fund with approximately $1 billion in assets under management. In addition, five MFS taxable fixed income funds will be merged into a multi-sector fixed income CEF with roughly $1.4 billion in assets, including private credit.
According to Aberdeen, the agreement will not involve the transfer of staff or corporate entities and is anticipated to add to income in the first year.
Both funds will be managed by Jonathan Mondillo, Aberdeen's Global Head of Fixed Income. The multi-sector fund will represent Aberdeen's first entry into this segment of the U.S. market, with investments spanning multiple bond sectors, including private credit.
Aberdeen manages about £21.4 billion in closed-end funds, making it the fifth-largest manager of CEFs globally, based on Morningstar data as of December 11, 2025, excluding this transaction.
Jason Windsor, Aberdeen Group CEO, said, 'We are delighted to add further scale to our US closed end fund platform, with this highly synergistic acquisition. As we implement our strategy to become the UK's leading Wealth and Investments group we will continue to invest in areas of strength where we see significant room for growth.'
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