Aviva hands funds to Onuekwusi in shake-up

Aviva Investors manager Justin Onuekwusi has taken over two funds following the departure of Jason Josefs, and is now running a total of five portfolios for the group.

Josefs recently left Aviva Investors, joining Amundi to run the company's flagship product, the Amundi Global Equity Thematic fund.

Management of the two Aviva Investors UK retail funds previously under Josefs' remit will now be passed over to Onuekwusi. These are the £67m Aviva Investors Balanced Managed fund and the £1m Manager of Manager Income fund.

Onuekwusi was previously lead manager on £21m Adventurous Multi-asset, £31m Balanced Multi-Asset, and £20m Cautious Multi-asset funds.

Aviva Investors said it is reviewing the £1m portfolio with a view to closure owing to its small size.

Onuekwusi joined Aviva Investors last year to run multi-asset products for the group. He was previously a research analyst at Merrill Lynch.

Meanwhile, at Amundi, Josefs will report to Paul-Georges Moucan, head of global equities, strengthening the Amundi team to five investment professionals.

Josefs previously worked as an analyst for the Federal Reserve Bank of New York.