Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Aviva multi-asset closure paves way for Gars-like launch

Aviva multi-asset closure paves way for Gars-like launch

Aviva has closed its Diversified Assets fund as part of an ongoing rationalisation of its fund range.

The company signalled it is readying a new multi-asset absolute return proposition under chief executive Euan Munro (pictured), who was the architect of Standard Life’s popular Gars range. 

Managed by Bruno Serdoura and Hassan Johaadien, the £20.9 million Diversified Assets fund invested across a broad spectrum of asset classes, including equities, bonds, cash and property. It was part of the group’s managed funds range.  

‘The fund has not attracted a level of external investment that allows it to remain viable, and has limited opportunities to grow in size,’ an Aviva spokesperson said.

Elsewhere, Aviva is converting its £1.5 billion Property Trust into a property authorised investment fund (Paif) after recently closing its Property Investment fund.

Managed by Philip Nell, AIPT has returned 16.9% in the three years to the end of March, compared with 22.7% for the IPD UK Property Index.

‘We have looked into the benefits of converting the Aviva Investors Property Trust to a Paif, and engaged with the major fund platforms to establish their readiness for the triple-streaming required on such funds,’ Aviva said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JP Morgan AM's Conte: why France is my biggest overweight

JP Morgan AM's Conte: why France is my biggest overweight

The European Smaller Companies trust fund manager is also finding opportunities within the European IPO market.

Brewin's Foster: running out of value with Sandy Nairn

Brewin's Foster: running out of value with Sandy Nairn

In this week's podcast, Guy Foster and Dr Sandy Nairn discuss caution towards the stretched valuations most stock markets today currently offer.

Play Colin McLean eyes disruptive potential

Colin McLean eyes disruptive potential

SVM's Citywire AA-rated manager says he is finding more opportunities within mid cap space.

Your Business: Cover Star Club

Profile: BRI plots growth via orphaned clients

Profile: BRI plots growth via orphaned clients

BRI Wealth Management hopes to capitalise on larger rivals’ inability to service smaller clients in the face of margin & regulatory pressure

Wealth Manager on Twitter