Aviva Investors Multi-Strategy Target Return - Neutral

FUND RESEARCH UPDATE: New Fund Rating of Neutral

Randal Goldsmith 16 March, 2016 | 7:12AM
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Following a Morningstar Analyst Ratings Meeting we have initiated coverage of the Aviva Investors Multi-Strategy Target Return Fund with a Morningstar Analyst Rating™ of Neutral. Launch of this benchmark-unconstrained, asset and strategy allocation fund in July 2014 was led by Euan Munro, original architect of the successful GARS product; and there are many shared characteristics, including a cash plus 5% target over rolling three year periods. The fund has attracted significant inflows, taking it to £1.2 bn at 31st January 2016. Munro is not one of the fund’s four portfolio managers; however, he has put in place a structure that encourages firm-wide contribution of ideas to the fund, and to date, it has performed on course to meet its target. All of this bodes well, but it is too early in this new strategy’s life to go beyond a Neutral rating.

See the latest Morningstar fund rating news here.

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Randal Goldsmith  is a Manager Research Analyst with Morningstar.