Article date: 11 February 2010
And removes initial charges on wrap platform.
Aviva – the UK’s largest insurer - is adding 13 funds from leading asset managers to its wrap and Self-invested personal pension (Sipp). It is also removing initial charges from the Aviva wrap. From 15 February until the end of 2010, there will be no initial charge on any new contributions invested in any Aviva wrap portfolios.
The additional funds give advisers and investors more choice when building an investment portfolio. The Aviva wrap offers nearly 1,500 funds and there are plans to have 2,000 on the platform by the end of 2010.
The funds added include two funds from Cazenove, four from Aviva Investors and four from Investec, including the Investec Multi-Asset Protector fund*.
Anthony Rafferty, head of investments marketing at Aviva, said: “By removing initial charges and extending the range of funds available to advisers and their clients, we are making it easier for them to build a diversified portfolio from a wide range of asset classes managed by an extensive list of fund managers. Our aim is to have 2,000 funds on Aviva wrap and Sipp by the end of 2010.
“The Retail Distribution Review (RDR) and the move to adviser charging in 2012 will be a huge challenge and opportunity for advisers, and the Aviva wrap and Sipp will help advisers demonstrate their professionalism and the value of independent advice.
“Both platforms have an important role to play in providing financial solutions, particularly to customers who are likely to demand a wide range of investment options and the ability to switch easily their holdings and rebalance portfolios.”
David Aird, managing director, UK Distribution at Investec Asset Management, said: “We are delighted that Aviva wrap has added further Investec funds to its platform, especially the award-winning Multi-Asset Protector Fund. Many advisers are looking for a fund that has the ability to deliver upside potential with downside protection, a valuable proposition at the moment, and its performance since launch has contributed to its success. Advisers also like the fact that the fund is a truly multi-asset offering, with the flexibility to invest in equities, including exchange traded funds, bonds, alternatives and cash, and that both returns and protection are actively managed.”
For further information, please contact:
David Gwyer - 01904 452659 / 07800 693187
Notes to editors:
* The newly-added funds include:
- Aviva Investors Asia Pacific Property
- Aviva Investors Diversified Assets
- Aviva Investors High Yield Bond
- Aviva Investors UK Absolute Return
- Investec Multi-Asset Protector
- Investec Target Return
- Investec Global Special Situations
- Investec Balanced Managed
- Cazenove Strategic Bond
- Cazenove UK Absolute Target
A wrap is an internet-based tool that allows financial advisers to take a single view of their clients’ savings, investments and pensions in one easily-administered portfolio. It makes it easier for adviser to buy, sell and switch a client’s investment portfolio.
The Aviva wrap re-opened to new business in January 2010. Re-engineered on a proven technology platform and including a series of significant improvements, the wrap and Sipp platforms have been re-opened following extensive testing with financial advisers.
Aviva is happy to provide names of advisers who were involved with testing the wrap.
Technology is provided by Scottish Friendly and Bravura Solutions
The Aviva wrap offers:
- A choice of investment, ISA and pension portfolios
- More than 1,500 collective investment funds from 80 fund managers. Equities quoted on FTSE All-share and AIM indices.
- Online portfolio and client management with online illustrations, applications and trading.
Aviva, the international savings, investments and insurance group, is the world’s fifth largest insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
In the UK, Aviva is a leading provider of life, pensions, investment, general insurance and health products to more than 20 million customers. Aviva also provides roadside assistance through RAC. Products are distributed through a number of channels including IFAs, brokers, corporate partners and direct to customers via the internet.
Aviva's UK Insurance business has a market share of around 13%, making it the largest general insurer in the UK. The business is focused on insurance for individuals and small businesses.
Aviva's life and pensions business in the UK has a life and pension market share of almost 11% and a top five position in its key markets of savings, protection, and annuities.
Aviva’s news releases and a selection of images are available from the internet press centre at www.aviva.com/media.