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From the Opalesque Team:

The board of Bramdean Alternatives Ltd, a Guernsey closed-ended investment company listed on the London Stock Exchange, has recently proposed to change the name of the company to Aberdeen Private Equity Fund Ltd, consistent with the appointment of Aberdeen Asset Managers Ltd as the Company's investment manager in November last year. It also wants to refine the firm’s investment objective and policy, reflecting its primary focus on private equity funds, moving away from the current hybrid objective, and to convert all of its US Dollar shares into Sterling shares, thereby simplifying its capital structure.

Bramdean invests in a diversified portfolio of private equity funds, hedge funds and other specialty funds.

The board has also proposed to relinquish the right (subject to this being granted by the Panel on Takeovers and Mergers) of the obligation that would otherwise arise on Elsina Limited (the company's largest shareholder) to make a general offer to shareholders. This is in accordance with Rule 9 of the City Code as a result of the share conversion proposal or in consequence of the company repurchasing its own shares.

In November, the board of Bramdean Alternatives appointed the asset manager Aberdeen to run the fund for three years for an undisclosed sum. Aberdeen replaced Horlick’s Bramdean Asset Management. Then the firm completed a tactical reduction of allocation to hedge funds.

Earlier last year Nicola Horlic......................

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