Hartford asset-manager Virtus Investment Partners Inc. and British insurer Aviva Plc have agreed for Virtus to provide investor strategies to Aviva’s investment arm.
The first fruit of the collaboration between Virtus and Aviva Investors will be establishment of a new open-end mutual fund, Virtus Multi-Strategy Target Return Fund, officials said. Aviva Investors will be the fund’s subadviser.
Virtus says formal papers have been filed with U.S. securities regulators for permission to launch the fund as early as the second quarter.
Since Aviva Investors introduced its multi-strategy approach in the United Kingdom last July 1, it has since gathered more than $700 million in assets as of Dec. 31, officials said.
Read more
ADVERTISEMENT
