The new fund, Aberdeen Asia III, will seek to create a portfolio of best-in-class property funds in developed markets such as Japan, Australia and Singapore, and emerging markets such as China and India. It will be managed by a team of five based in Singapore under the leadership of the firm’s head of property in Asia, Puay Ju Kang.  

The fund’s target gearing is 50-60 per cent and the aim is to return between 13 and 17 per cent each year.

Aberdeen is now looking to raise between $300 and $400 million from investors for the fund. The UK-listed firm, which launched its first fund of the kind in 2006, currently manages $1 billion in Asia-Pacific property. Its two existing Asia-Pacific property funds of funds returned 13.3 per cent and 25.7 per cent last year.