Aberdeen boosts Hugh Young’s team with new multi-asset role

Aberdeen Asset Management has appointed Peter Elston to the newly-created role of head of Asia Pacific strategy and asset allocation.

Elston, who has been at the firm for four years as an Asian investment strategist based in Singapore, will report to Hugh Young (pictured), who is head of Aberdeen’s Asian business in Singapore.

He will also report to Mike Turner, who is head of global strategy and asset allocation, based in Edinburgh.

Elston has been part of the global strategy team led by Turner, as well as a member of the Aberdeen Global II – Asia Pacific Multi-Asset fund tactical asset allocation team, since 2009.

He will work closely with members of the firm’s Asian equity and fixed income teams, who will continue to manage the underlying asset classes, into which existing multi-asset mandates feed.

Elston said: ‘Aberdeen already has strong track records in the key underlying asset classes of Asian equity, fixed income and property around which we will continue to grow multi asset products.’

Young said: ‘Asia will remain a growth region for decades to come. Peter's appointment is recognition of the increasing interest in Asian multi asset solutions and represents a natural step in the development of our business in the region.’

Elston joined Aberdeen in 2008 as a strategist for Asia. He started his career in 1988 at Mercury Asset Management, and for most of his time, managed Asian equity funds from Tokyo, Hong Kong and Singapore.