Aviva Investors to manage AUB Pan Asia real estate multi-manager fund
7 February 2012
(London) Aviva Investors today announced it has been appointed to manage the AUB Pan Asia Investment Fund Limited. AUB is a commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services across the Middle East.
The fund will be managed by Bart Coenraads, Aviva Investors Head of Real Estate Multi-Manager – Asia Pacific, with support from the wider Real Estate Multi-Manager team. The fund has been seeded with an initial $97m.
Commenting on the appointment, Sawsan Abulhassan, Deputy Group CEO, Private Banking and Wealth Management, AUB, said: “Over the past four years we have worked closely with Aviva Investors on two funds that we already offer to our clients and have been impressed by the level of service and performance that we have received. This long-standing relationship, combined with their expertise in real estate multi-manager, were the main factors behind us selecting them to manage this fund. It is important to us that we are able to deliver outstanding value to our clients and we believe that we can achieve this through our successful relationship with partners such as Aviva Investors.”
Bart Coenraads added: “I’m very pleased that AUB chose Aviva Investors to manage this fund. Ongoing volatility in the global markets is encouraging investors to have greater diversity in their real estate portfolios and Asia Pacific is a region that we strongly believe offers diversity through the many opportunities within the region. Capital growth remains robust in many key markets and the region offers some of the strongest economic prospects in comparison to other markets.”
This appointment brings the total number of funds Aviva Investors manages on behalf of AUB to three.
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For more information contact:
+44 (0)20 7809 8759
Notes to Editors
About Ahli United Bank Group and Ahli United Bank (UK) PLC
Ahli United Bank (UK) PLC (formerly known as the United Bank of Kuwait PLC) was established in 1966 to facilitate the expansion of business between institutions in Kuwait and global financial markets. Now a wholly owned subsidiary of the GCC-based Ahli United Bank (“AUB”), AUB (UK) has a broader mandate of providing a full suite of retail, corporate and private banking & wealth management services to clients in the United Kingdom, the Arab world and, in particular, the Gulf area. AUB (UK) provides the very best of British banking practice combined with a unique understanding of the special needs and demands of offshore investors and visitors from the Gulf.
About the Fund:
This Guernsey regulated fund is categorised as an unregulated collective investment scheme for the purposes of UK legislation and as such cannot be offered for sale to UK retail investors. While the Fund targets an IRR of 15%, there are no guarantees that such returns will be achieved and the value of the fund may fall as well as rise. Eligible potential investors are therefore strongly recommended to seek professional investment advice so as to make an independent assessment thereof.
This press release is distributed by Aviva Investors Global Services Limited of No.1 Poultry, London, EC2R 8EJ. This press release is not available for general distribution in, from or into the United Kingdom because AUB Pan Asia Investment Fund Limited is an unregulated collective investment scheme whose promotion is restricted by sections 238 and 240 of the Financial Services and Markets Act 2000. When distributed in, from or into the United Kingdom, the content of this press release is only intended for persons having professional experience of investing in unregulated schemes, high net worth companies, partnerships, associations or trusts and personnel of any of the foregoing having professional experience of investing in unregulated schemes (each within the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001), persons outside the European Economic Area receiving it electronically, persons outside the United Kingdom receiving it non-electronically and any other persons to whom it may be communicated lawfully. No other person should act or rely on it. Other persons distributing the content of this press release in, from or into the United Kingdom must satisfy themselves that it is lawful to do so.
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 16 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £269 billion at 30 June 2011.
- Aviva is a leading provider of life and pension products in Europe (including the UK) with substantial positions in other markets around the world, making it the world's sixth largest insurance group based on gross worldwide premiums at 31 December 2010.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £47.1 billion and funds under management of £402 billion at 31 December 2010.
*Based on 2010 published life and pensions PVNBP on an MCEV basis, total investment sales and general insurance and health net written premiums, including share of associates' premiums.
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