Aviva Investors profits sink by over 60% on lower revenues as AUM drops

External net inflows of £190m

Aviva Investors posted a sharp fall in profits in the first half of 2023 as a drop in average assets under management hit revenues.

According to Aviva Group's half-year results published today (16 August), the group's asset management arm reported its operating profit had tumbled by 64.2% to £5m, down from £14m during the same period last year.  Excluding cost reduction implementation costs, strategic investment costs and foreign exchange movements, operating profits amounted to £14m, down from £25m in 2022.  Aviva Investors expands real assets team with double hire The firm said these results were driven by lower revenue, which dropped by 12% to £167m from £190m in the first half of last year, reflecting the i...