Media

Aviva Investors, the asset management business of Aviva plc, has launched a new Aviva Investors Global High Yield Bond Fund.

The new fund, which will invest in below investment grade securities, aims to allow investors to capitalise on attractive returns compared with other equity and fixed income asset classes. It is the first fund to be launched under the Aviva Investors brand since the integration of Aviva plc’s asset management businesses was announced in February. The fund will be distributed via the Luxembourg-domiciled Aviva Investors SICAV, the group’s primary distribution vehicle.

The new fund will be lead-managed by Josh Rank, who said: “The current market environment is rich in opportunity for a high yield bond fund such as this one. Recent systematic volatility in financial markets is providing investors with a very attractive entry point into this global high yield bond fund. We feel as though exceptional value exists in the higher rated portion of the high yield. Aviva Investors proven track record of no negative return years for high yield fixed income and consistent generation of alpha demonstrates our depth and breadth of high yield experience.”

The principal investment objective and policy of the Aviva Investors Global High Yield Bond Fund is for a consistent first quartile ranking within its peer group and outperform the market on a relative and risk-adjusted basis over a complete market cycle.

Todd Youngberg, Aviva Investors Head of High Yield, said:
“We have long-standing and successful experience in high yield bond portfolio management and now we can also leverage our Aviva Investors globally-based analysts. It is an ideal time to be launching a new fund in this asset class as the valuations we have today do not present themselves very often”.

The fund will be made up of primarily BB/B rated securities while opportunistically investing in CCC rated securities based on Aviva Investors independent fundamental research with strict risk controls. All investment must be corporate debt.

Josh Rank said: “The high yield bond market offers attractive yields and compelling valuations over a full market cycle. Additionally, low correlations with other asset classes produce a strong diversification benefit”. A total of five high yield portfolio managers based in both the US and UK, including Josh Rank, are involved in managing the fund.

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For more information contact:
Jane Reynolds
Corporate Communications
+44 (0)20 7809 8313


Notes to Editors

Unless stated otherwise any opinions expressed are those of Aviva Investors Global Services Limited. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.
 
The value of an investment in the Aviva Investors Global High Yield Bond Fund and any income from it can go down as well as up. Investors may not get back the original amount invested. Full written terms and conditions are available on request.

Aviva Investors
Aviva Investors is the global asset management business of Aviva plc, the world’s fifth-largest insurance group.  The company operates under a single brand with more than 1,100 employees in 21 locations across North America, the UK, Europe, and the Asia Pacific.

Aviva Investors combines the following former businesses in: the UK (Morley Fund Management); France (Aviva Gestion d’Actifs); North America (Aviva Capital Management, MFM International, Aviva Investment Canada); Ireland (Hibernian Investment Managers); Australia (Portfolio Partners); Poland (CUIM Polska); and Romania (CertInvest); and works in partnership with Delta Lloyd Asset Management in the Netherlands.

Aviva plc
- Aviva is the leading provider of life and pension products in Europe with substantial positions in other markets around the world, making it the world’s fifth largest insurance group based on gross worldwide premiums at 31 December 2007.

- Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £49.2 billion at 31 December 2007 and funds under management of £359 billion at 30 June 2008.

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Aviva Investors Global Services Limited
No. 1 Poultry, London EC2R 8EJ
Phone +44 (0)20 7809 6000
Fax +44 (0)20 7489 7940
Web www.avivainvestors.com
Email info@avivainvestors.com Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: No. 1 Poultry, London EC2R 8EJ.  Authorised and regulated in the UK by the Financial Services Authority and a member of the Investment Management Association.
Contact us at Aviva Investors Global Services Limited, No. 1 Poultry, London EC2R 8EJ. 08/1120