Aviva and Alliance Trust in SRI partnership
Aviva is to help Alliance Trust Investments build a sustainable and responsible investment division under an investment-advisory agreement due to be implemented by 31 August, Ed Troughton has said.
The managing director of Alliance Trust Investments said: “Securing this respected SRI team, led by Aviva’s Peter Michaelis, underlines our growth strategy.
“We plan to focus on global equities and fixed income in the future, in particular specialist investment opportunities.”
Aviva’s SRI team, headed by Mr Michaelis, will be working for Alliance Trust to implant its expertise while its assets under management remain with Aviva, including seven Oeic funds.
These assets are expected to be transferred to Alliance Trust in early 2013, subject to legal and regulatory approval, once Mr Michaelis’ team builds up sufficient relevant management expertise at the company.
Paul Abberley, interim chief executive of Aviva Investors, said: “The transfer of our SRI team to Alliance Trust Investments will enable a seamless transition of responsibilities and ensure consistency is maintained in the investment process.”
He said Aviva’s investors decided the company should focus on its core competencies in fixed income, multi-asset solutions, real estate and core equities, including SRI.