Aviva Investors is set to launch a global unconstrained fund and a global emerging market (GEM) unconstrained product next quarter, chief investment officer, equities, David Cumming has told Investment Week.
In July, Aviva Investors poached a team of eight equity fund managers from Standard Life Aberdeen as it opened an Edinburgh office for the firm, including Mikhail Zvervev, head of global equities, and Alistair Way, head of global emerging market equities.
Zvervev previously managed the Standard Life Investments Global Equity Unconstrained fund and Way managed the Standard Life Investments Global Emerging Markets Equity fund.
Cumming said Aviva Investors has "a strong GEM team" and that the new products would be similar to those run at Aberdeen Standard Investments, with the people running them "probably Edinburgh based" and the launches happening "as quickly as possible".
Cumming has been shaking up the equities arm of Aviva Investors in his first year as CIO, having joined the group in January 2018 after leaving his post as head of equities at Standard Life Investments shortly after Standard Life and Aberdeen Asset Management confirmed their merger plans. Recent changes include an overhaul of the UK equity funds earlier this month and the establishment of a US equities division in October 2018.
In Aviva Investors' August results, the firm revealed total assets under management (AUM) were down over six months from £351bn to £347bn as a result of negative fund flows of £3.7bn.
However, Cumming said he is confident the group can bolster assets under management in its equity arm over the next five years.
"Both our retail and institutional presence is low, so we are coming from a low base. But we have a lot of resource and latent potential."
If we take a five-year view we can expect to be top ten in terms of retail flows into equities; I don't think there is any point otherwise."
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