Aviva Group's profits jump 13% in H1

Aviva Group’s profits jumped 13% to £1.3 billion (€1.55 billion) in the first half of 2016.  In the group's fund management division, its operating profits increased by 48% to £49 million, up from £33 million year-on-year. Higher management fees, gleaned due to increased funds under management, primarily drove the rise. Overall, group profits reached £1.3 billion, compared to £1.1 billion year-on-year. Profit growth was partially offset by "investment to support the development of the business". The firm also experienced positive net inflows of £600 million, with assets under management growing 10% to £319 billion as of June 30, compared to £290 billion on December 31 2015. In a statement, chief executive Mark Wilson emphasised the group's UK-focused growth and investment, but noted 42% of the firm’s earnings came from outside of the UK. He also commented on the potential interest rate cut from the Bank of England set to be announced later today, stating that Aviva was insulated from external events, and would be resilient in a low interest rate environment. In March, the group reported "milestone" profits of £105 million over 2015, up 33% from £79 million a year prior, ending a period of "inadequate" performance by the company. ©2016 funds europe

Sponsored Profiles

SPONSORED FEATURE: Investing for income

May 17, 2017

Portfolio Manager Thomas Kruse examines the findings from Pioneer Investments’ survey on income investing and outlines ways of achieving a target income.

SPONSORED ARTICLE: A radical solution to KYC concerns

May 17, 2017

The 1MDB affair shows that lax know-your-customer and due-diligence procedures are a major risk, says Paolo Brignardello, head of product management and marketing, Fundsquare. New solutions are...

SPONSORED FEATURE: AIFMD - What does Brexit mean?

Apr 18, 2017

An open discussion between funds industry experts and initiated by SGG Luxembourg took place in London to examine  the implications of Brexit for UK fund managers marketing to the EU.

SPONSORED FEATURE: Luxembourg fund reporting – CRS vs FATCA

Apr 18, 2017

Luxembourg funds need clear procedures for CRS compliance, writes Andrew Knight, Partner at M Partners, a member of the Maitland network of law firms.

Executive Interviews

INTERVIEW: Finding managers that can (and do)

Apr 18, 2017

Fabrice Kremer, a fund selector at Banque de Luxembourg Investments, has berated fundamental managers for failing to beat indices, but he remains committed to active funds. He speaks to Nick...

JERSEY INTERVIEW: ‘A steady sort of place’

Mar 21, 2017

The chief executive of Jersey Finance is keen to portray the island as a stable, trustworthy jurisdiction. He talks to George Mitton.



May 17, 2017

With such an intangible product, it can be hard for asset managers to communicate what they do. Having personality and connecting with customer aspirations may be the key, our branding roundtable hears.

ROUNDTABLE: The issue is perception

Mar 21, 2017

Our panel discuss tax transparency, the elegance of private placement and why Jersey could do more to promote itself. Chaired by Tom Cowsill in Saint Helier.