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Aviva hires multi-managers to run ranges in-house

Aviva Investors has hired Ian Aylward and Peter Fitzgerald to run its multi-manager investments in house.

Aviva runs £1.3 billion in portfolios investing in other funds and managers. It had previously outsourced the management of the funds of funds to FundQuest, a subsidiary of BNP Paribas Investment Partners, and the running of the manager of managers products to Close Investments, a subsidiary of Close Brothers.

Fitzgerald joins from BNP Paribas Wealth Management. Aylward was in charge of researching alternative investments at Skandia and was a co-head of investment research overall.

John Clougherty, the chief executive of Aviva Investors UK, says he expects retail multi-asset and multi-manager funds to grow after new retail regulation comes into effect at the end of 2012.

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