Aviva Investors has sold its SRI funds business to Alliance Trust Investments in a £1m deal.
The seven funds, which have £1.2bn AUM, and managers, including team head Peter Michaelis, will transfer to Alliance Trust Investments by the end of August. Aviva Investors' interim chief executive Paul Abberley said the move comes as it focuses on areas of its business where it feels it has "competitive strength" such as fixed income, multi-asset, real estate and core equities. Ed Troughton, managing director of Alliance Trust Investments said: "Securing this highly respected SRI team led by Peter Michaelis underlines our future growth strategy of focusing on global equities and fixe...
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