Aviva Investors to close Fitzgerald and Green funds after redemptions

Aviva Investors is to close its UK Absolute Return fund, run by Trevor Green, as well as Peter Fitzgerald's Diversified Strategy fund, Investment Week can reveal.

The two funds are poised to shrink as the largest investor in each is withdrawing their assets imminently. As a result, the group has opted to close both next month. Winding up the two funds will also avoid any crossover when the group launches its own version of GARS later this year. The group said recently it is planning to rival Standard Life Investments' Global Absolute Return Strategies (GARS) with the launch of a low volatility absolute return product, after GARS co-founder Euan Munro joined as chief executive in January. The existing Absolute Return fund is managed by Green,...