Profits slide at Aviva Investors while Q4 23 reverses AUM decline

Net outflows up 42%

Profits fell 16% over the course of 2023 at Aviva Investors, slipping from £25m to £21m, driven by lower revenues.

Excluding cost reduction implementation, strategic investment costs and foreign exchange movements, profits sank 27%, from £48m to £35m. Aviva UK Listed Equity Income fund suffers second manager exit Revenues across Aviva Investors dropped 9% over the year to £346m, although the drop was mostly offset by a 6% reduction in baseline controllable costs to £311m. While assets under management closed the year 2% up on 2022's figure at £227bn, average AUM was 8% lower over the course of the year, largely attributed to "adverse market impacts". A recovery in Q4, particularly for the fi...