The future of the quantitative strategies run by Swip remains unclear following the group’s acquisition by Aberdeen.
Aberdeen’s chief executive Martin Gilbert has stated that nothing will change immediately. ‘We will need the quant fund managers to run that part of the business,’ he said. ‘We have little expertise in that.’
However, Gilbert has also told investors in his company that he would seek to secure higher margins from the acquired Swip business. Aberdeen’s present blended average management fee is 50 basis points, and Gilbert acknowledged that the Swip integration ‘will reduce’ that.
Gilbert therefore assured investors that in the ‘medium to long term’ Aberdeen would attempt to increase the proportion of Swip’s assets that are actively managed, while emphasising that ‘nothing is going to happen in the short term there’.
At the end of August, 38% of Swip’s £136 million of assets under management was held in quantitative equity strategies.