The specialist fund is designed to offer investors increased access to long-term capital growth, as well as lowering the targeted volatility of those returns.

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.

The move will add a further $28bn to the firm’s AuA (Assets under Administration), and is primarily designed to support part of the Swiss investment bank’s US-based alternative investments business.

The system will accommodate the full remit of 500 funds which are currently under Tisco’s management. These include a diverse range of investment funds such as private, provident and mutual funds.

The firm has also gone a step further and automated the process of sending market and custodial data to its portfolio management system, Advent Portfolio Exchange.

The announcement that the Bank of England has raised their 2014 inflation forecast is likely to be met with guarded relief by investment management companies and pension fund managers.