Fund management at Aviva Investors, the firm headed by ‘Gars’ champion Euan Munro, had a “break-out” year in 2016.
In Aviva plc’s annual results this morning, the company reported net external flows at Aviva Investors of £2.9 billion (€3.3 billion) and a 30% increase in its operating profit to £138 million.
Munro, formerly a senior figure at Standard Life Investments and an architect of Standard Life’s successful Global Absolute Return Strategy (Gars), joined as Aviva Investor’s CEO in January 2014 and has since launched a rival fund range to Gars.
Called the Aviva Investors Multi Asset Strategy (Aims), flows for the product – which consists of UK Oeic and Luxembourg Sicav structures – were not split out in today’s results but the company said Aims’ assets under management had trebled to £9 billion.
Aviva Investors total assets under management were up 19% to £345 billion. The £55 billion increase included at £31.5 billion lift from markets.
Mark Wilson, group CEO of Aviva plc, said: “Fund management delivered a breakout year with strong positive net flows and operating profit up 30%.”
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