Aviva has written to advisers outlining its views on the challenges facing Mark Barnett, following a review of how he runs funds previously managed by Neil Woodford.
The life company hosts unit-linked pension versions of the funds: the Aviva Pension Invesco Perpetual High Income, Income and UK Equity funds. It has highlighted "a number of challenges for the future performance and investment management of the funds" after a review of the management arrangements put in place this March. Invesco Perpetual announced Woodford's shock departure to set up his own firm last October, naming Mark Barnett as successor on all his funds. By mid-summer this year, outflows from these Invesco Perpetual funds reached 30% of assets, though that has been offset by s...
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