On September 14, 2011 The India Fund, Inc. (NYSE:IFN) announced that its Board of Directors had approved a transfer of management from Blackstone Asia Advisors L.L.C. to Aberdeen Asset Management Asia Limited, subject to stockholder approval.
On September 14, 2011 The India Fund, Inc. (NYSE:IFN) announced that its Board of Directors had approved a new management agreement with Aberdeen Asset Management Asia Limited. The transfer of management from Blackstone Asia Advisors L.L.C. is subject to stockholder approval. Blackstone will be exiting the business of managing publicly listed closed-end investment companies focusing on Asian equities. India Fund is a non-diversified, closed-end management investment company which focuses on Indian equity securities. Aberdeen is a Singapore-based investment manager and subsidiary of Aberdeen Asset Management PLC. Aberdeen Asset Management PLC is an independent asset manager with approximately $298.3 billion in assets under management, including approximately $74 billion in Asian Pacific equity securities. A Joint Special Meeting of Stockholders at which the stockholders will consider the new management agreement is scheduled to be held on November 16, 2011.
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