Aviva Investors is launching a fixed income multi-asset fund under its ‘Aims’ umbrella – a fund range seen as a rival to the successful Standard Life Investments absolute return ‘Gars’ fund.
The Aims Fixed Income Fund will be unconstrained and will invest in 25 to 35 strategies for a 3% per annum gross return over cash.
Aviva Investors created the Aims – or Aviva Investors Multi-Strategy – range in 2014 after Euan Munro (pictured) joined as chief executive from Standard Life Investments where he led the development of Gars.
Munro said demand was strong for funds that focus on outcomes and he cited two earlier launches under the Aims umbrella – the Aims Target Return and Target Income funds – as proof.
The latest fund is positioned to cope with interest rate uncertainty and is managed by Dan James, global head of fixed income; James McAlevey and Orla Garvey, who are both senior portfolio managers; and Joubeen Hurren, portfolio manager.
Dan James said: “Falling interest rates over the last 25 years have created a tailwind for fixed income returns, which is unlikely to be repeated over the next five or ten years.”
The fund will initially be available in three institutional share class formats: euro, sterling hedged and dollar hedged. The annual management charge is 0.35%.
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