Aviva fund unaffected by departure
Standard & Poor’s Fund Services’ (S&P’s) ratings on two funds managed by Aviva Investors have been unaffected by the announcement that Michael Brown has left the firm.
Brown was the deputy portfolio manager of Aviva Investors’ Professional High Growth Shares Fund and the deputy portfolio manager of its Professional Listed Property Fund.
The High Growth Shares Fund will continue to be headed up by portfolio manager Richard Dixon, who will be supported by Richard Colquhoun as deputy portfolio manager. Brett McNeil, portfolio manager of the Listed Property Fund will continue to manage the strategy and will be supported by Colquhoun as deputy portfolio manager.
S&P added that it was comfortable with the current management of the funds but would continue to monitor any further changes at the firm.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.