Aviva Investors’ parent group has launched an asset retention programme for the company in a bid to tackle outflows.
In its first quarter market update, Aviva, the insurer, said the turnaround in its asset management business “continues” with gross sales of £1.6bn being “encouraging”.
But it added: “We have to see the level of redemptions fall.
“We have introduced a proactive retention programme to retain and grow key funds.”
Aviva Investors is now run by Euan Munro, a key architect behind the successful Standard Life Investments Global Absolute Return Strategies fund. Mr Munro joined the group in 2013.
It said the AIMS range now had £1.2bn of assets under management adding performance had been “strong” with the AIMS Target Return fund up 9 per cent in the first nine months.
“Work is underway to build distribution through Virtus Investment Partners in the United States and we are actively working towards securing more international agreements,” the group said.
In spite of the retention programme being launched, Aviva said the asset management business would benefit from the roughly £20bn which will be transferred from Friends Life to Aviva Investors.
