Singapore investment fund trims stake in BPI
Aberdeen Asset Management Asia Ltd., a leading regional asset management firm, cut its holdings in Ayala-led Bank of the Philippine Islands to 9.86 percent.
The investment fund sold about 7.38 million shares in BPI, according to documents submitted to the Philippine Stock Exchange.
With the sale, Aberdeen Asset Management is now left with a total of 387.767 million shares of BPI.
BPI closed 50 centavos lower at P99.70 each share Monday.
Based in Singapore since 1992, Aberdeen Asset Management is the main regional investment arm of the Aberdeen Group, which has been investing in Asia for over 25 years. It manages separate client-focused equity and fixed income portfolios.
The Aberdeen Group’s assets under management now total over $108.9 billion.