Aviva Investors CEO Euan Munro has expanded the firm’s multi-strategy fund range by launching a new fund to increase profitability at the firm.
Dubbed as Aviva Investors Multi-Strategy Target Return Fund, the fund will target an annual return of the Bank of England base rate plus 5% over three years.
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The fund will have an initial seed capital of £100 million.
The new fund, which will have 20 to 30 different investment strategies, will be advised by Munro.
Munro will also lead the newly created Strategic Investment Group, a forum to provide fund managers with investment ideas.
The fund will be managed by Aviva’s Peter Fitzgerald, head of multi-assets alongside Dan James, global head of rates.
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By GlobalDataAdditionally, the firm is also planning to launch two more funds including Target Income fund as well as Target Inflation fund. The Income fund is expected to be launched in the fourth quarter of this year, while the Inflation fund will be launched in 2015.
