Aviva Investors sees AUM fall on £3.7bn outflows

£4bn fall to £351bn

Aviva Investors has seen its assets under management drop £4bn in the first half of the year following negative fund flows, but posted a 7% rise in operating profits, although this was below the 45% growth seen the year prior.

In results released this morning, the firm said its operating profits grew 7% to £76m for the same period last year, up from £71m, while revenues climbed 4% to £284m compared to a 13% increase last year to £273m. Total assets under management (AUM) were down over the six months from £351bn AUM to £347bn as a result of negative fund flows of £3.7bn. Operating expenses for the business rose 3% to £208m, as the firm continued to focus on strengthening its distribution and equities capabilities. However, there were net outflows of £2.4bn for internal legacy products, consistent with th...