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Standard Life Investments To Shut FOF

Asset manager Standard Life Investments is looking to shut down the fund-of-funds boutique in which it bought a controlling stake last year.

Asset manager Standard Life Investments is looking to shut down the fund-of-funds (FOF) boutique in which it bought a controlling stake last year, Financial News reports. The Edinburgh-based firm had acquired a 75 percent stake in Aida Capital in March 2010.

Standard Life had purchased the stake in Aida from its CEO Nick Oppenheim and Colin Clark, a non-executive director of Standard Life and a director and shareholder of Aida. The firm has more than $157 billion in assets under management.

Click here for the story from Financial News.

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