Aberdeen Asset Management will seek to develop a significant presence in the Asia Pacific and American regions, Pertti Vanhanen said during the EXPO REAL property fair in Munich.

'We want to start being seriously active outside of Europe, where we already have a network of offices in place for our equities and fixed income teams,' Vanhanen told PropertyEU in an interview.

The Asia Pacific and American regions currently account for less than 10% of Aberdeen's portfolio, or around EUR 1 bn of assets. Although there is no definite target in place, Vanhanen said plans are to focus on expansion outside of Europe in the coming months.

'We recently opened an office in the US and launched our third fund of funds in Asia, in a sign of our commitment to these markets,' he said.

Aberdeen is currently raising funds for its third fund of funds, which has a target size of around $400 mln, and is aiming for a net annual return of 17%.