Aberdeen Asset Management, the hard-hit UK fund manager, has sold its Guernsey-based exotic debt and emerging-market debt funds to the fund managers for an undisclosed sum. The fund is the only one in the UK to specialize in so-called pariah debt issued by countries such as Iraq and North Korea.
The new company, called Convivo Capital Management, is headed by Julian Adams, who previously managed the exotic debt fund, and its chairman is Paul Luke, who was previously head of emerging-market strategy at Deutsche Bank.
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