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Investec AM cashes in on Gars and Aviva outflows

Investec Asset Management says it is picking up money from Standard Life Aberdeen’s ailing Gars fund as the newly merged giant continues to take a hit on its absolute return strategy.

Investec says inflows are also coming from Aviva Investors through its flagship Diversified Income fund as other large fund groups continue to suffer outflows.

The £105bn asset manager enjoyed “significant” inflows in its multi-asset strategies during 2017, where its Investec Diversified Income fund, managed by the firm’s head of multi-asset income, John Stopford, nearly doubled in size and now
holds £467m of assets, according to FE data. The fund, which was launched in 2008, held £239m as at February 2017.

Speaking to Money Marketing, Inv­estec AM managing director David Aird says the simple structure, real income generation and conservative approach have helped the firm attract “significant” money from rivals. He says: “The fund has grown considerably in the past year and has significant money coming over from Gars and Aims. The fund is quite conservative and producing a real income of between 4 and 4.5 per cent.”

The firm said it could not determine how much of the inflows came from Gars relative to other competitors.

A full profile of Aird and Investec AM will appear in Money Marketing next week.

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