Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
Breadcrumb
  1. Home
  2. MONEY MANAGEMENT
April 18, 2017 01:00 AM

Aviva joins queue of U.K. firms boosting North American presence

James Comtois
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    Aviva Investors is making the U.S. a priority, joining several other U.K.-based management firms that are experiencing significant growth in the U.S.

    The London-based manager's growth is due in part to the increasing popularity of its target return strategy and increased investor appetite for multiasset-class strategies, particularly outcome-oriented and customized solutions.

    Aviva's North American assets totaled $14.6 billion as of Dec. 31, up 52% from a year prior. Most of this growth comes from the Aviva Investors Multi-Strategy Target Return portfolio. OPTrust — which manages the C$19.05 billion ($14.3 billion) Ontario Public Service Employees Union Pension Plan in Toronto — invested an undisclosed amount in the AIMS Target Return strategy in December.

    Also helping are its subadvisory relationships with Sun Life Global Investments in Canada and Virtus Investment Partners in the U.S.

    “We've seen significant growth,” said Timothy W. Jenkins, head of U.S. sales for Aviva Investors Americas.

    As of March 31, the AIMS Target Return strategy had $10.2 billion in assets under management globally, up 106% from same period a year ago. Of that total, roughly two-thirds is institutional and about 11% of the total is from North America. The strategy was launched in July 2014.

    The firm's North American institutional growth also is due to Aviva's asset-class-specific capabilities, Mr. Jenkins said, including in fixed income, equities and real estate. North American AUM rose by more than 75% in global high-yield, U.S. high-yield and Canadian core strategies in 2016.

    Texas Employees Retirement System, Austin, in April 2016 committed up to $60 million to Aviva Investors Real Estate Capital Global Co-Investment Fund, which invests with emerging real estate managers focused on opportunistic real estate properties in the U.S.

    Almost one year into his tenure as CEO of Aviva Investors, following his departure from Standard Life Investments in July 2013, Euan Munro told Pensions & Investments one of the biggest challenges he'd had to that point was differentiating between “global” and “international.”

    “Aviva Investors has been international for a very long time, but is now really coming together as a global asset manager,” Mr. Munro said at the time.

    Said Mr. Jenkins: “Since Euan Munro became our CEO, multistrategy has been the cornerstone of our growth, particularly in North America.”

    As previously reported, Aviva is seeing considerable competition, particularly within the U.S. Standard Life Investments PLC, Schroders PLC and Legal & General Investment Management also are bolstering their U.S. focus.

    Mr. Munro's former company, Standard Life, is emphasizing its Global Absolute Return Strategies.

    SLI managed £63.8 billion ($65.9 billion) in multiasset strategies globally as of Dec. 31, up 6.3% from the same period a year earlier and up 39.3% from Dec. 31, 2014. That includes GARS, its absolute-return bond fund and its other global-focused strategies.

    Data from SLI show its North American AUM — which is all institutional — was $16 billion as of Dec. 31, up 8.5% from the year before and up 56.8% from two years prior.

    Jack Boyce, managing director and head of North American distribution at SLI, Boston, said the size and scope of the U.S. market makes it very attractive for non-U.S. managers.

    “It's a particularly challenging market to set up shop in the U.S., as it's got a low barrier to entry yet high barrier for success,” said Mr. Boyce.

    In North America, SLI started with just two employees in 2002 and minimal AUM. Now, SLI North America has more than 105 employees with offices in Boston, New York, Los Angeles and Toronto.

    “Certainly, it's a very big market in the U.S. and we've seen a good deal of success in multiasset,” said Mr. Boyce. “We're a very early player in multiasset, and our history at that has served us very well. But we focus on long-term success.”

    In addition to multiasset, emerging market debt and global equities have contributed to SLI's growth in North America.

    In regard to the impact of growing competition within the U.S., Mr. Boyce said: “I am very confident in the strength of our multiasset platform. It's not just GARS.”

    Sophie Baker contributed to this story.

    Related Articles
    Aviva chooses new retirement business chief
    Aviva hires U.K. client solution director to work with pension plans
    Aviva names head of infrastructure debt
    Aviva Investors taps head of multiasset funds
    Aviva Investors picks head of Americas client solutions
    Aviva Investors brings on head of infrastructure debt Canada
    LaSalle to acquire Aviva's multimanager real estate business
    Recommended for You
    Larry_Fink_Speaking_2023_i.jpg
    Larry Fink sees large opportunities for deals to transform BlackRock
    65 Equity Partners adds partners in Europe, U.S.
    HSBC AM chooses head of U.K. credit solutions
    Carving a Path For Fixed Income Through Shifting Scenarios
    Sponsored Content: Carving a Path For Fixed Income Through Shifting Scenarios
    Sponsored
    White Papers
    2023 Hot Topics in Retirement and Financial Wellbeing
    Bonds: Shaken, but Not Stirred
    A Study of Allocations to Alternative Investments by Institutions and Financial…
    Unlocking Hidden Value in Japan
    The Art of the Possible in Data Automation for Institutional Investors
    Parnassus View - Investing in AI: Transformative New Tech, Same Old Rules
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    December 12, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars