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Aviva Investors shifts focus for UK equity fund range

Pound Sterling Sign Falling Apart To Gold StarsAviva Investors has renamed three equity funds to reflect its shift in focus onto investment into small and medium-sized companies with “recovery characteristics” and will also incorporate new environmental, social and governance screenings.

The UK Growth Fund will be relisted as the UK Listed Small and Mid-Cap Fund on the FTSE 250. The fund’s parameters will now include a 20 per cent maximum FTSE 100 limit and 20 per cent maximum FTSE AIM limit.

The UK Opportunities Fund has been renamed the UK Listed Equity High Alpha Fund while the UK Equity Fund will be known as the UK Listed Equity Unconstrained Fund.

Aviva says its UK Listed Small and Mid-Cap Fund, previously benchmarked to the FTSE All-Share, will continue with style-agnostic investment approach.

Making sense of ESG popularity

An Aviva spokeswoman says: “The fund will be actively managed with a focus on companies we believe are undervalued in the market. This approach concentrates on companies that are considered to have growth, quality or recovery characteristics.”

Aviva adds that an ESG criteria being integrated into the fund’s new investment process is hoped to bring more competitive returns.

The spokeswoman says: “We believe that this approach can positively influence the companies we invest in.”

The changes are hoped to boost Aviva’s global equity business as it aims for the fund trio to be “more clearly targeted”, she adds.

Graham Bentley: Can we still rely on a long-term trend to growth?

The UK Listed Small and Mid-Cap Fund is co-managed by Charlotte Meyrick and Adam McInally.

The UK Listed Equity High Alpha Fund is currently managed by Aviva’s chief investment officer of equities, David Cumming, while the UK Equity Fund will continue to be managed by Henry Flockhart who took over its management last September.


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