Aviva Investors’ AuM rise as market movements offset outflows

Aviva Investors, the asset management arm of the UK-listed Aviva Group, saw its assets under management (AuM) rise £15.4 billion to £346.1 billion in the first half of this year, according to financial results published on Wednesday.

The 4.66% increase in AuM came as net outflows of £5.5 billion and £3.4 billion of assets transferred to an external manager were offset by £24.1 billion of “favourable market and foreign exchange movements”.

Total assets under management and administration, meanwhile, rose £19.9 billion to £379.7 billion compared with £359.8 billion at the end of the first half of 2018.

Revenue dropped 7% to £264 million during the first half of 2019 “driven by lower average assets under management compared to the prior period and the effect of the 2018 disposals of an indirect real estate multi-manager business” as well as a disposal of the company’s interest in a pan-European commercial property fund.

Compared with the first half of last year, fund management operating profits fell £14 million, or 18%, to £62 million for similar reasons.

“Despite challenging external market conditions, our investments in growing investment capabilities are making positive progress and we have experienced consistently improving investment performance in 2019,” the company said.

Follow this link for our recent interview with the chief executive of Aviva Investors Euan Munro.

©2019 funds europe

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