Aberdeen Asset Management has launched two new mutual funds: Aberdeen Latin American Equity Fund (ALEAX) and Aberdeen European Equity Fund (AEUAX) to satiate U.S. investors’ appetite for global exposure.

The Aberdeen Latin American Equity Fund will be managed by a team headed by Devan Kaloo, Head of Global Emerging Markets Equities and the Aberdeen European Equity Fund will be managed by a team headed by Jeremy Whitley, Head of UK and European Equities.

“With the developed world facing anemic growth rates, high unemployment and continued government austerity measures, we believe investors need to look to the developing world for opportunities and growth,” stated Kaloo. “In this regard, we believe that the outlook for Latin America is compelling.”

“The crisis in the Eurozone has led many U.S. investors to avoid a European allocation. While European governments may be in poor financial health, we feel that investors can find high-quality companies at attractive valuations across Europe,” added Whitley.

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