It will also require the approval of listed firms Advanced Developing Markets Funds and Advance Frontier Markets Fund, to which AEC is an investment manager.The £409m manager was started by 1996 and primarily focuses on allocating to investment managers and funds in emerging and frontier markets.It adds four investment professionals to Aberdeen’s business.AEC operates both open and closed funds and will add £8.5bn to Aberdeen’s closed fund business, the company said.Martin Gilbert, chief executive at Aberdeen, said AEC added to the range of alternatives offered by the company.“AEC investors will benefit from the management team’s being part of a larger, independent asset manager and the ability to draw on the group’s established distribution and operational expertise in regard to closed-end funds,” he said.Aberdeen recently purchased Flag Capital Management, a private equity manager, in addition to completing the full purchase of its private equity joint venture with SVG Capital.It has also entered an agreement to buy Arden Asset Management, a US hedge fund manager, which it said would expand its distribution in the region and build its hedge fund and alternatives capabilities. Aberdeen Asset Management is set to acquire Advanced Emerging Capital (AEC), a London-based emerging and frontier market fund-of-funds business.The £307bn (€418bn) asset manager will add AEC into its alternatives business.The news follows recent acquisitions boosting Aberdeen’s hedge fund capabilities in the US and private equity.The AEC deal is set to be completed by the end of 2015, subject to regulatory approval.
Stadler had seen his four-shot overnight lead disappear with a front nine of 41, but had battled back well with birdies on the 14th and 16th to pull within one of McDowell, who then carded his only bogey of the day on the 18th after finding heavy rough off the tee. That left Stadler needing two pars to force extra holes but after holding his nerve on the 17th, the world number 62 missed his second tap-in of the day to gift McDowell a 10th European Tour title. McDowell shrugged off the miserable conditions to retain his Alstom Open de France title, carding a closing 67 at Le Golf National, the joint-lowest round on a wet and windy day. But the former US Open champion also had plenty of help from American Kevin Stadler, who missed from two feet for par on the 18th to force a sudden death play-off. Press Association Graeme McDowell produced a brilliant final round to overturn an eight-shot deficit and successfully defend a tournament for the first time in his career on Sunday.
Serena Williams has time “working for her” in pursuit of an elusive 24th Grand Slam singles title, says her long-time coach Patrick Mouratoglou.The former world No 1, who will turn 38 later this month, suffered her fourth successive defeat in a major final at the US Open earlier this month as her wait to match Australian Margaret Court’s all-time haul was prolonged.Williams will now have to wait until the Australian Open – the scene of her last Grand Slam title in 2017 – in January for her next shot at history. After her defeat by Canadian teenager Bianca Andreescu at Flushing Meadows, the world No 9 resisted fears over her ability to overcome one final obstacle in her career: to match and then overhaul Court’s tally. Mouratoglou, who has coached Williams to 10 Grand Slam titles since beginning their partnership in June 2012, insists the American was becoming ever more formidable.“I think time is working for her,” Mouratoglou told Sky Sports’ Mathieu Wood in an exclusive interview at the Mouratoglou Academy.“I think she was much better at the US Open than she was at Wimbledon and Wimbledon better than Roland Garros.“She is getting back in shape and the more in shape she will be the more dangerous she will be. I think she has started to play really good tennis.”Williams has not won a set in any of the four Grand Slam finals she has reached since the return from the birth of her first child in September 2017.She lost to Angelique Kerber in the Wimbledon showpiece last year, before being beaten by Naomi Osaka in New York two months later, while this year she has lost on the same stages against Simona Halep and then teenager Andreescu.Mouratoglou concedes Williams, who first won a Grand Slam aged 17 in 1999, has to work out the winning formula once again on the biggest stage as she aims to bolster her legacy.“She has to win that last match in the tournament which is always really difficult,” he said.“It is one match for history and the pressure is quite high. I am not in her mind but I can figure she is playing one match for history.“This is the highest pressure anyone can have in life and on the other side of the court she plays girls who have zero pressure because it is their first final.“They are going to play many Grand Slams, they are young, they are excited, enthusiastic so they play without pressure and that makes a big difference. But at some point she will figure out how to deal with that.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Serena Williams