Aviva Investors

The Investment Management Association (IMA) has begun publicly revealing Targeted Absolute Return funds' rolling 12-month performance as part of a tightening of requirements, following widespread criticism of the sector.

Aviva Investors head of equities David Lis lists financials, media, mining, support services and smaller companies as the places he is seeing the most value in the UK equity market.

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Justin Onuekwusi,lead fund manager on Aviva Investors' multi-asset funds, is to exit the firm.

Multi-asset managers have been moving back into property for the first time since the financial crisis, as higher income levels from the sector attract yield-hungry investors.

Fund closures and mergers in the UK have soared to a record high in the past six months as groups cull smaller or underperforming funds amid pressure on margins.

Aviva suffered a loss of £3bn in 2012 due to a £3.3bn writedown from the sale of its US business last year.

Mirabaud Asset Management has launched a high yield bond product for its latest recruit Andrew Lake, who joined the group from Aviva Investors at the start of the year.

James Hay has added more than 100 new funds to its platform, including a number of risk-rated and multi-manager offerings.

Aviva Investors has proposed the closure of its Global Listed Real Estate Securities business, including the Global REIT fund run by Paul Van De Vaart, as it has "insufficient scale".