Aviva Investors to merge away property fund

Aviva Investors has received shareholder approval to merge the assets of the International Property fund, formerly Henderson International Property, into the Aviva Investors European Property and the Asia Pacific Property funds.

In August this year, Aviva became the investment manager and authorised corporate director' of the Henderson International Property fund, and revealed its plans to merge the fund into its existing regional property offerings, subject to approval.

The merger will complete on 21 January 2011, and the International Property fund will close.

John Clougherty, chief executive, Aviva Investors UK funds, says: "We welcome the outcome of today's vote which confirms investors' strong appetite for our two specialist regionally focused funds.

"Both the Aviva Investors European Property and Asia Pacific Property funds will be larger and more diversified as a result, which should prove attractive to new investors and increase their scale.

"We have already received strong expressions of interest from UK and Asian investors for the enlarged funds and believe today's agreed merger of the funds provides all investors with the best possible outcome."