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Aviva adds drawdown functionality to wrap

Aviva is adding a drawdown functionality on its wrap to allow customers to draw income on specific funds.

The feature enables customers to choose the funds from which to drawdown income, and keep these funds separate from their core investment portfolio.

The new feature is available on the Aviva Wrap Sipp and Isa.

Aviva Wrap head of marketing Nicholas Burton says: “Post-retirement is an important and growing market for advisers and wrap and Sipp platforms. Flexibility is vital when drawing income in retirement and Aviva has developed the option to drawdown income from a specific fund or funds, rather than across a whole portfolio.”


S&S brand to stay after merger

Stroud & Swindon Building Society has agreed to merge with Coventry Building Society. The group will be known as Coventry Building Society but the S&S brand will remain. No decision has been taken on the broker brands.


IMA adding offshore funds

The Investment Management Association is including a number of offshore funds within its sector classifications from April 1.

Richards makes move from Fidelity

Fidelity International chief investment officer Nicky Richards is leaving the company after four years. FIL president and CEO for Europe Robert Higginbotham will take over direct responsibility for the investment division until a successor is appointed.


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