Aviva Investors saw profits reach a "milestone" of £105m over 2015, up 33% from £79m in 2014, ending a period of "inadequate" profits for the company.
The investment management arm of the Aviva Group said the profits uplift included a £9m contribution from Friends Life Investments, as part of the group's wider acquisition of the Friends Life group, agreed in December 2014 for £5.6bn. It also saw funds under management increase by £44bn over 2015 to reach £290bn, driven in part by its acquisition of £45bn worth of assets from Friends Life. However, it said its assets under management were partly offset by net outflows and adverse market and currency movements. Despite this, its flagship multi-strategy range (AIMs), launched in Jul...
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