Aviva Investors seeks to reassure IFAs over retail future

Aviva’s fund management arm Aviva Investors has sought to reassure IFAs that it is not completely withdrawing from the UK retail market in the wake of yesterday’s announcement that it would scale back its operation at a cost of 160 jobs worldwide.

Aviva Investors said it is not pulling out of the UK retail market entirely, after revealing yesterday it would be cutting 12% of its workforce with the majority of cuts in London.

A spokesperson for the firm said: ‘Aviva Investors remains committed to supporting and aligning its investment management activities to the needs of Aviva Group Companies and in particular UK retail.

‘While Aviva Investors proposes to shift emphasis of its external market engagement to focus on institutional clients it will continue to provide investment management support to meet the needs of Aviva’s UK retail funds such as Oeics, life and pension funds.’

In its initial announcement, Aviva Investors said it would be focusing on fixed income, real estate and multi-asset solutions, while concentrating its sales and marketing forces on its institutional business.

The move follows the conclusion of a comprehensive business review fronted by Aviva Investors chief executive Alain Dromer.