In what principally appears to be a bid to highlight their multi-asset and multi-management work, Aberdeen Asset Management has made the decision to change the name of their investment strategies division to Aberdeen Solutions.

The firm currently handles a total of £24bn across its portfolio of hedge funds, fund of private equity funds, pan-alternatives and multi-asset/multi-manager strategies. The change of name is principally designed to highlight the broader capabilities of the brand.

Anne Richards, Chief Investment Officer at Aberdeen Asset Management, feels the change will allow the company to demonstrate an increased emphasis on multi-asset and multi-management capabilities.

“It (the name change) opens the door to some broader conversations about how we can help clients in thinking about the totality of their problems, rather than the individual components of it,” stated Richards.

Multi-asset strategies are designed to allow fund managers to invest across a wide range of assets from equities, commodities and bonds to private equity and hedge funds. They can then adjust their allocations to each in response to any potential market moves.

Richards added that clients are “beginning to understand that it’s not about wanting this specific mandate or that specific asset, it’s about the outcome, rather than the individual bucket.”

This news follows recent reports that Credit Suisse sold a 5% stake in Aberdeen Asset Management, reducing their overall interest in the firm to less than 15%.

The sale of the stake is thought to be due to regulatory reasons, and it now makes Mitsubishi UFJ Financial Group the company’s largest investor. Bloomberg data suggests that they now own 18% of the overall company.

Aberdeen Asset Management issued a total of 207.5 million new shares to the Zurich-based firm after completing the purchase of a portion of Credit Suisse funds in 2009. At one point, Credit Suisse held a stake equivalent to 23.9% of Aberdeen following the transaction.