Aviva Investors has sold River Road to Affiliated Managers Group while bosses insist the asset manager remains committed to the US market.
Jason Windsor, group chief strategy and development officer of Aviva Investors, said the sale was in line with his business’ strategy of simplifying and moving towards an integrated operating model and organisational structure.
He said: “A simpler, more focused business will help Aviva Investors become a stronger third party manager and increase its contribution to the group.
“Aviva Investors is focused on becoming a fully-integrated asset manager offering products that deliver client outcomes with low volatility. A boutique US equity manager does not fit with this strategy.
“We look forward to a continued relationship with River Road.”
River Road, based in Louisville, Kentucky was acquired in 2009. It will remain the manager of Aviva Investors’ US Equity Income funds.
