The new offering, rivalling SLI's GARS strategy, includes the Target Return, Target Income and Target Inflation funds.
The Target Return Fund, launched yesterday, is registered for sale in the UK as an Open Ended Investment Company. A similar fund will also be made available to investors in certain European countries through a SICAV.
The Target Income Fund is expected to launch in the fourth quarter of this year and the Target Inflation Fund is set to launch in 2015.
Peter Fitzgerald, head of multi-assets, and Dan James, global head of rates, will run the Target Return Fund on a day-to-day basis.
The fund aims to deliver a return of 5% pa above the Bank of England base rate over any rolling three-year period by investing in a globally diversified multi-strategy portfolio. It aims at a volatility of less than 50% of the volatility of global equities as benchmarked by the MSCI All Country World Index.
“The multi-strategy range reflects our renewed focus as a business. We aim to deliver simple and specific outcomes that clients will value, ignoring traditional benchmarks and instead combining our considerable expertise in real estate, fixed income and equities together into compelling solutions,” Munro said.
Former Standard Life Investments GARS founder Munro took on the role of CEO at Aviva Investors in January.
In March this year, Aviva Investors reported a pre-tax operating figure of £68m for activity in 2013, a 57% rise on last year’s profit of £39m.
