The inside scoop on Aberdeen's new concentrated "Legends" fund of hedge funds for Asian private banks

Aberdeen Investments is preparing a concentrated fund of hedge funds, "Hedge Fund Legends", Hedgeweek reported on 21 September, citing Fund Selector Asia. The fund targets around $200m and will initially be distributed through cornerstone distributors including Asian private banks. It is expected to invest with eight to ten managers across multi-strategy, equity market neutral, credit relative value, systematic macro and event-driven strategies. Capula's global relative-value strategy and Millennium are among the managers being considered. The target is an absolute US-dollar return of cash plus 5%. Allocations will be sized by conviction, liquidity and capacity, and "The portfolio will not use equal weighting." Fees are not yet finalised. Aberdeen oversees $18.8bn across active and passive hedge funds and alternative credit (June 2026).

Aberdeen's H2 2026 hedge fund outlook (July) argues that "dispersion across equities, credit, and macro variables continues to rise."

Allocator demand supports the launch. Hedge funds took $99.7bn of net inflows in 2026 to the end of August, against $62.2bn for the whole of 2025. Multi-strategy funds took $6.7bn in August alone (Citco data, via Hedgeweek). In BNP Paribas' survey of 175 investors with around $1.2tn in hedge fund assets, 49% of European respondents plan to increase allocations (APAC 48%, North America 42%). The most sought-after strategies are equity long/short (35%), discretionary macro (29%) and equity market neutral (25%).