Aberdeen Investments selected as one of initial managers of Scottish Widows Long Term Asset Fund
29 April 2025As Scottish Widows prepares to launch an open-architecture Long Term Asset Fund (LTAF) later this year, pending regulatory approval, Aberdeen Investments is delighted to have been appointed an initial manager of the growth sub fund.
The LTAF will provide access to the full universe of private market investments and will offer new investment options to over four million workplace pension customers across the UK, two important steps that Aberdeen believes are vital if private markets are to be truly democratised.
Xavier Meyer, CEO, Aberdeen Investments, said: “The diversification benefits of private markets have come into sharp focus at a time of volatile equity and bond markets. These benefits have been historically limited to institutional investors and a handful of high-net-worth individuals.
“Scottish Widows' LTAF is a meaningful step towards the democratisation of private assets, and we fully share their ambition of enabling millions of UK customers to access such capabilities through their workplace pension proposition. We are proud of being part of this initiative, and grateful for the trust that Scottish Widows has placed into our long-standing private market expertise.”
Chira Barua, CEO of Scottish Widows, said: “Private assets can be an attractive component of a modern portfolio structure for helping our customers achieve good outcomes in retirement. It’s also a brilliant win-win as it supports economic growth by providing funding to companies with bespoke financing requirements. As one of the UK’s largest workplace pension providers and part of a group whose core purpose is helping Britain prosper, this is an important building block in our endeavour to offer the most distinctive pension proposition in the UK.”
Kevin Doran, Chief Investment Officer of Scottish Widows, said: “Our open-architecture implementation approach gives us full control and future-proofing on how and where we invest within our LTAF. The opportunity to source unique investment opportunities from across the Lloyds Banking Group estate only adds to the offering, meaning our policyholders will be able to see their investments at work within their local communities.
“With full control of our own sponsored vehicle, we have the visibility of cash flows from members’ contributions, right through to asset flows. This limits the need for precautionary liquidity, making sure our members get the full benefit of their investments in private assets.”
Aberdeen Investments – heritage in private markets
Aberdeen is a leading player in private markets and alternatives, with £70 billion in AUM as at 31 December 2024. This is a focus area for our business with net flows of £1.1 billion in Financial Year 24.
We have been long-term investors into private markets across real assets, private credit and alternative investment solutions. This includes our specialist private market solutions team, who invest $850m in a diverse range of private assets across the world as at 31 December 2024.
Specifically, Aberdeen has an extensive expertise in Real Assets. As governments around the world struggle with ageing populations and low economic growth, we believe in the benefits of investments supporting the direct economy and facilitating disintermediation.
Through our infrastructure franchise, we invest – amongst others – in hospitals, electric trains, roads, rural broadband and biomethane production, with a focus on steady returns and low volatility.
We are a top European Real Estate player, number 6 for residential property investment, managing over 30,000 units across the continent, and the second largest Logistics landlord in Europe.
A significant portion of our private credit franchise is focused on providing asset backed financing to sectors including commercial real estate and infrastructure (£7bn AUM deployed to date to commercial real estate and infrastructure financings). In the broader asset backed space, we seek to offer innovative solutions to clients including being the first asset manager to offer access to fund finance to institutional investors, with the longest track record in this space dating back to 2018.
By managing investment trusts and semi-liquid vehicles such as the Global Private Markets Fund, Aberdeen has enabled individual investors to benefit from such opportunities. This approach underscores Aberdeen’s commitment to delivering innovative investment solutions across diverse client segments.
Ends
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Notes to editors
About Aberdeen Investments
- Aberdeen is focused on growing our direct and advised wealth platforms and repositioning our specialist asset management business to meet client demand. We are committed to providing excellent client service, supported by leading technology and talent.
- As at 31 December 2024, we managed and administered £511bn of our clients’ assets.
- Our Investments business is a specialist asset manager that focuses on areas where we have both strength and scale to capitalise on the key themes shaping the market, through either public markets or alternative asset classes.
- Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs.
- As at 31 December 2024, our Investments business manages £369.7bn on behalf of clients, including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.
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