Aviva Investors' Munro unveils three-strong Target fund range

Aviva Investors is preparing to launch a range of three new funds to rival SLI's GARS strategy, under the leadership of new CEO Euan Munro.

The three multi-strategy funds are Target Return, Target Income, and Target Inflation. They will all be concentrated funds of 20-30 holdings, managed by Peter Fitzgerald, head of multi-asset, and Dan James, CIO of fixed income. The launches are subject to regulatory approval. Target Return has launched with £100m of seed capital, and the group expects it to grow to several billion in size over the next two to three years.  It aims to grow investor capital, and has the objective to deliver an annualised return of cash plus 5% over a rolling three-year period, with volatility less th...