The formal change of control is expected to take place in November and will result in the renaming of NISP Asset Management to PT Aberdeen Asset Management. The names of individual funds will also be revised.
The deal that was first announced in February has been approved by both the Indonesian Securities regulator Otoritas Jasa Keuangan and also the Monetary Authority of Singapore, Aberdeen AM said.
Sigit Wiryadi, who heads NISP Asset Management, will continue to be at the helm after Aberdeen’s acquisition.
“As part of the integration, we plan to add to the existing team, move to new offices and re-brand in the coming months,” Wiryadi said.
As at 30 June 2014, Aberdeen managed $551.4bn on behalf of institutional and private investors. Of this, $109.9bn is managed from Asia.
NISP AM manages mutual funds, protected funds and discretionary accounts on behalf of institutional, corporate and retail clients in Indonesia, with assets under management worth IDR3.43trn. The fund house currently has a headcount of 30.
