View more on these topics

Alliance Trust acquires Aviva Investors’ £1.2bn SRI business


Alliance Trust has entered into an investment advisory agreement for Aviva Investors’ £1.2bn sustainable and responsible investment range.

The deal is set to conclude on 31 August and will see the Aviva SRI team, which is headed by Peter Michaelis, move to Alliance Trust.

The team will continue to provide investment advice for Aviva’s eight SRI funds under an investment advisory agreement. There will be no change to the investment objectives and process of the funds.

The authorised corporate director responsibilities for the eight funds will transfer to Alliance Trust early next year. Aviva is considering the future of its Luxembourg fund range and will contact investors once any plans are in place with the regulator.

In February, Money Marketing revealed Aviva’s plans to sell its SRI business as part of a move to reduce its retail presence. The firm announced plans to cut 160 jobs in January with its London-based European, emerging markets, global and SRI desks being affected.

Aviva Investors interim chief executive Paul Abberley says: “The transfer of our SRI team to Alliance Trust Investments will facilitate a seamless transition of responsibilities and ensure consistency is maintained in the investment process.

Alliance Trust managing director Ed Troughton says: “Securing this highly respected SRI team underlines our future growth strategy of focusing on global equities and fixed income with an emphasis on specialist investment opportunities.”

Holden & Partners managing partner Mark Hoskin says: “It looks like Alliance Trust is committing to sustainability which is really positive.”

Last week, Alliance Trust announced its half-year results. The trust has made a total return of 5.5 per cent in the six months to 30 June, compared to a 5.3 per cent return in the Global Growth sector index. The trust is ranked 13/33 in the Global Growth peer group over six months.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm