Aberdeen Asset Management has moved to avoid further "distraction" by agreeing to settle a long-running legal claim brought by a real estate investment fund against the company and Swiss bank UBS.

Aberdeen said today it has reached a settlement with Real Estate Opportunities, a property investment group controlled by a Dublin-based company. The case started in 2005, with the property investment group seeking compensation for losses in its income portfolio, which was established by Aberdeen and UBS.

Vivek Ahuja

Aberdeen Asset Management

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Aberdeen settles Real Estate legal claim

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