Aviva profits climb 13% in H1 as AIMS range doubles AUM

Group profits up 13%; Dividend hiked 10%

Aviva has reported profits jumped 13% to £1.3bn in the first half of 2016, driven partially by growth in its fund management arm, where assets in its AIMS range more than doubled.

The group said Aviva Investors' operating profits increased by 48% to £49m, up from £33m for the same period last year, which mainly reflected higher management fees due to increased funds under management, particularly in its multi-strategy (AIMS) funds, although the figure was partly offset by "investment to support the development of the business". Additionally, its fund management business saw external fund net flows turn positive to £600m. Also, together with an additional transfer of £1.5bn of Friends Life assets and favourable market movements, assets under management grew 10% to ...