abrdn Plc becomes world’s third largest manager of closed-end funds

LONDON, UK: abrdn plc’s U.S. subsidiary, abrdn Inc., has entered into an agreement with First Trust Advisors L.P. to acquire the assets of four closed-end funds, adding AUM totalling approximately £0.6bn. Subject to approval by the shareholders of the respective funds, the four closed-end funds will be reorganised into existing abrdn funds. The transaction will…