Devon County Council Pension Fund has committed to an investment of £40 million in Aviva Investors REaLM (Returns Enhancing and Liability Matching) strategies as part of a recent increase in allocation to infrastructure investments.
Half of the investment has been committed to the REaLM Infrastructure Fund, with the other half committed to the REaLM Ground Rents Fund.
The commitment means that Devon County Council Pension Fund is the first local authority pension scheme to invest in the REaLM Infrastructure Fund, which focuses on a range of projects across the UK. The REaLM suite of funds currently has combined commitments and assets under management of £1.6 billion with the Infrastructure Fund comprising £396 million of the total*.
Mark Gayler, Assistant County Treasurer at Devon County Council said:
“Inflation is one of the key risks faced by pension funds. The Devon Pension Fund’s investment in the Aviva Investors REaLM funds will provide protection against UK inflation, whilst offering diversification at relatively low risk.”
Phil Ellis, Client Director at Aviva Investors said:
“We are delighted that the Devon County Council Pension Fund has become the first local government pension scheme to invest in the REaLM Infrastructure Fund. As more and more local authorities invest in UK infrastructure projects, we believe that REaLM represents a fantastic solution for clients looking for infrastructure investments that offer secure, long-term and inflation-linked income streams.”
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* As at December 2013.
Notes to Editors
The information and opinions contained in this document are for use by the financial press and media only. Investment markets and conditions can change rapidly and as such any views and opinions expressed should not be taken as statements of fact or advice nor should reliance be placed on these views when making investment decisions. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance is not a guide to the future
REaLM Infrastructure fund is regulated by the Jersey Financial Services Commission. Units in the unit fund may only be offered to institutional/qualified investors in accordance with the restrictions imposed by the Jersey Expert Fund guide published by the Jersey Financial Services Commission and terms of the trust instrument.
Where funds are invested in infrastructure, investors may not be able to switch or cash in an investment when they want because infrastructure in the Fund may not always be readily saleable. If this is the case we may defer a request to switch or cash in units.
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £246 billion at 30 September 2013.
- Aviva provides 34 million customers with insurance, savings and investment products.*
- We are the UK’s largest insurer and one of Europe’s leading providers of life and general insurance.
- We combine strong life insurance, general insurance and asset management businesses under one powerful brand.
- We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work
* Based on Aviva plc Annual Report and Accounts 2012.
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