Redemptions still ‘too high’ for Aviva investors
Mark Wilson, group chief executive officer at Aviva, said the group’s investment arm continues to make progress on its turnaround, but that redemptions remained ‘too high’.
Mark Wilson, group chief executive officer at Aviva, said the group’s investment arm continues to make progress on its turnaround, but that redemptions remained ‘too high’.
The Financial Conduct Authority is investigating unusual increases in share price prior to Aviva’s merger with Friends Life, according to reports.
The turnaround of Aviva Investors is “gaining momentum” as fund outflows were cut by 82% year-on-year, the firm has announced in its interim statement.
Aviva is in talks to buy Friends Life in a deal which would make the combined group one of the largest savings and investment groups in the UK.
Schroders has signed a deal to manage £12.2bn in multi-asset and equity portfolios on behalf of insurer Friends Life.
Resolution has cancelled a capital repayment to shareholders following follows “careful consideration” of Friends Life Group’s future capital requirements.
Friends Life has seeded its new in-house asset management business with £6bn.
Friends Life Investments has hired the fixed income team from LVAM to initially run the fixed income assets within its annuity liabilities, shareholder funds and assets backing other non-profit liabilities.
Friends Life Group is to set up a separate, 100%-owned subsidiary investment management firm to run, initially, its annuity book’s fixed income assets.