Aberdeen Asset Management (Thailand), a subsidiary of Abrdn Plc, is launching Abrdn Global Innovation Equity Fund (ABINNO), a mutual fund focused on tech businesses that comply with environmental, social and governance (ESG) criteria.
Robert Penaloza, chief executive of Abrdn Thailand, said ABINNO invests in the master fund Aberdeen Standard SICAV I – Global Innovation Equity Fund, which looks for innovative businesses of different sizes worldwide.
The company considers innovation a key building block for sustainable development and improvement of the quality of human life, said Mr Penaloza.
"ABINNO is not just another tech fund. It will give Thai investors the opportunity to invest in many varied sectors that are benefiting from innovative changes, including industrials, healthcare, consumer goods and consumer services," he said.
While other innovation funds typically overweight US tech stocks, Abrdn looks to invest in companies around the world to create a more diversified portfolio. The master fund managers look for small firms disrupting big ones, or big companies using technology to disrupt themselves, said Mr Penaloza.
The master fund invests not only in growing companies, but also profitable firms that have competitive advantages and can be potential market leaders in the industry.
As of Dec 31, 2021, large-cap companies made up 60% of the master fund's portfolio, while small and mid-cap firms comprised 40%. The master fund prefers companies that emphasise ESG factors because the company believes sustainability is the key to long-term development.
He said the master fund will be managed by Abrdn's global equities team, benefiting from the extensive expertise and in-depth local insights of more than 130 investment professionals in 14 countries.
ABINNO offers two share classes: Accumulation share class (ABINNO-A) and Super Savings Fund share class (ABINNO-SSF). A promotion is available during the initial public offering period from Feb 28 to March 11.
