Japan Equity Fund's board selected Aberdeen Asset Management Asia to manage the $100 million fund, confirmed Alan Goodson, head of product, U.S. at Aberdeen Asset Management.
If the fund's shareholders approve the selection, which should happen sometime before the end of the year, Aberdeen will replace Daiwa SB Investments as Japan Equity Fund's manager, according to a joint news release from Japan Equity and Aberdeen.
Aberdeen currently manages $120 billion in Asia-Pacific fixed income and equity and manages more than $7 billion in Japanese equities.
Representatives from Japan Equity Fund and Daiwa did not return calls at press time.
