The Board of Trustees of Aberdeen Asset Management has approved a proposal to close the Aberdeen Emerging Markets Fund on February 22, according to a regulatory filing.

The $10.3 billion, 5-star rated fund bets on emerging market equities. It is managed by Mark Gordon-James, Joanne Irvine, Devan Kaloo, Hugh Young, Fiona Manning, Mark Butler and Peter Hames.

It sports an expense ratio of 105 basis points.

Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management, is listed on the London Stock Exchange and managed more than US$302.4 billion in assets as of September 30, 2012.

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