The group says the fund is in the final design stages and will sit at the “plain vanilla” end of the absolute return market.
Aviva managing director of retail investments John Clougherty says the group is reviewing a potential launch in the next four to five weeks.
He says: “We do feel that we have the capability to launch a product of this ilk in the market having recently brought a couple of people in to the UK team that work on the hedge fund side of the business.
“What we are keen to have is something that does not have a black box approach as we feel this is exactly what investors do not want at this time. It is likely we will sit at the safer end of the absolute return market.”