Aviva Investors: Internal assets drive £1.7bn net outflow

External net inflows were £600m for the nine months to 30 September

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Aviva Investors has suffered a £1.7bn net outflow in the nine months to 30 September, while its assets under management ticked up 2%.

The outflows were mostly driven by £1.3bn net redemptions from internal assets, including the expected £5.1bn run-off from the firm’s Heritage portfolio.

A further £1bn outflows came due to strategic actions from clients previously part of Aviva.

External net flows were positive at £600m, which was attributed to strong performance in multi-asset and fixed income.

See also: Tatton Asset Management sees organic inflows rise by 101% in half-year results

Meanwhile, assets under management ticked up 2% to £238bn, primarily reflecting the impact of market movements and strong flows into the firm’s Liquidity strategies.

Aviva’s wealth arm recorded £7.7bn net flows, up from £6.4bn in the same period of last year. Platform flows were up 76% on the previous year, hitting £3.1bn

Group CEO Amanda Blanc said the flows in the firm’s wealth arm reflected continued growth in workplace pensions and strong demand from Aviva’s financial adviser platform business.