Aviva Investors secures mandate with London CIV

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has been appointed by London CIV, the Collective Investment Vehicle for the group of London Local Authorities (LLA) Pension Funds, to manage its newly-created Inflation Plus Fund.

The Fund, which seeks to deliver consistent, stable, inflation-linked returns by investing in a diverse portfolio of income- generating real assets, will primarily target opportunities in real estate long income, including investment in long-lease and ground rents. It will also have the flexibility to invest across other asset classes such as infrastructure debt and real estate debt, in order to source the best relative value opportunities.

Initially launched with £107 million from London Borough of Bexley and the Borough of Redbridge, the Fund is the only strategy on the London CIV platform which seeks to address cashflow and liability requirements for member schemes, and will draw on resources from Aviva Investors’ £46 billion Real Assets business.

Mark Versey, CIO, Real Assets, at Aviva Investors, said:

“We are proud to have been selected by London CIV to manage its Inflation Plus Fund. In this challenging investment environment, predictable, inflation-linked returns offer an attractive defensive quality to portfolios, making long income a natural destination for pension schemes as they look to reduce risk. Our hope is that other London Borough Pension Funds will follow Bexley and Redbridge into the fund and we anticipate it growing significantly over time. We look forward to helping this group of local authorities meet their investment objectives and cashflow requirements on behalf of their members.”

Kevin Corrigan, CIO at London CIV, added:

“Aviva Investors has a long track record across the real assets sector and strong origination capabilities, and we are delighted to work with them on this fund. The demand for alternative income from our investors will likely increase, particularly given the current environment so this is an important addition to the London CIV suite of funds.”

Aviva Investors’ Real Estate Long Income (RELI) strategies were first introduced in the late 1990s with the funding of Public Private Partnerships (PPPs), followed by the creation of the Lime Property Fund in 2004 and the REaLM (Returns Enhancing and Liability Matching) fund range in 2011. Together, the strategies account for £5 billion in assets under management1.

1 As of December 2019

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Important information:

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

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Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 03 June 2020. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. 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 and any income from it may go down as well as up and the investor may not get back the original amount invested. 

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ   Authorised and regulated by the Financial Conduct Authority.

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 08 June 2020. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. 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 and any income from it may go down as well as up and the investor may not get back the original amount invested. 

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ   Authorised and regulated by the Financial Conduct Authority.

Aviva Investors

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 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £346 billion in assets as at 30 June 2019.

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