Aviva Investors has informed investors that it will close its Multi-Strategy Target Income fund after it has experienced significant outflows, Investment Week has learned.
The fund, run by Peter Fitzgerald and Ahmed Behdenna, has three investment objectives: to provide income, manage volatility and preserve capital. A letter to investors seen by Investment Week said "Whilst it has been successful in limiting volatility and providing income to investors, AVIVA Investment Funds believe its ability to preserve capital at the same time has been challenging". The OEIC version of the fund launched in December 2014 and has a total of £418.7m assets under management (AUM). From launch until the end of June it has suffered a capital loss of 3.7% and an income...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
