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Fund Times: Portfolio Partners funds now rebranded Aviva

Phillip Gray  |  30 Sep 2008Text size  Decrease  Increase  |  
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Australia now has another fund manager whose name begins with 'A', as Portfolio Partners yesterday completed its rebranding to 'Aviva Investors Australia'. (The Australian funds management industry is, to borrow from Sesame Street, frequently brought to you by the letter 'A': 1,986 or nearly 20.0 percent of the 10,972 active funds on our database now start with A.)

Aviva has also made changes to a number of its funds' mandates. The maximum cash allocations for what is now Aviva Investors Prof Australian Equities and Aviva Investors Prof Dividend Builder have been reduced from 20.0 to 10.0 percent. For the Elite Opportunities funds, typical tracking error has been reduced from a current maximum of nine percent per annum to four to seven percent; the maximum number of companies from 30 to 25; and the maximum cash allocation from 20.0 to five percent.

Additionally, the global bond component of Aviva Investors Prof Premier Fixed Income has been moved from index to active management by a related Aviva funds management business, and the fund's designated global bond index benchmark changed from 25.0 percent JP Morgan Global Government Bond Index to the same allocation to the Lehman Global Aggregate Index.

Finally, Aviva has also implemented a series of changes to Aviva Investors Prof Sustainable Investment (formerly Portfolio Partners Long/Short Sustainability), run by Andrew Hamilton since Amanda McCluskey's departure for AMP in June last year. The fund's benchmark has been changed from the 300 to the 200 S&P/ASX Accumulation Index; the manager has removed the ability to take short positions (which can currently go up to 50.0 percent of net assets); removed the performance fee (not exactly a common occurrence in the Australian funds management industry); and reduced the maximum cash weighting from 20.0 to 10.0 percent of portfolio value.

We have updated fund names and other relevant information on our database and in our qualitative research reports, which has now flowed through into Adviser Workstation, licensed datafeeds, our websites, and our newspaper managed funds tables. Table 1 below shows the new fund names for the former Portfolio Partners funds.

Table 1: Former Portfolio Partners Funds Now Rebranded Aviva

Existing Fund Name


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New Fund Name
Portfolio Partners Pers Elite Opportunities Shares 12354 Aviva Investors Pers Elite Opportunities
Portfolio Partners Pers Emerging Shares 5895 Aviva Investors Pers Small Companies
Portfolio Partners Pers High Growth Shares 5852 Aviva Investors Pers High Growth Shares
Portfolio Partners Pers Income Plus Growth 4988 Aviva Investors Pers Income Plus Growth
Portfolio Partners Pers Listed Property 7048 Aviva Investors Pers Listed Property
Portfolio Partners Pers Shares 618 Aviva Investors Pers Shares
Portfolio Partners Prof Australian Equities 4522 Aviva Investors Prof Australian Equities
Portfolio Partners Prof Dividend Builder 13187 Aviva Investors Prof Dividend Builder
Portfolio Partners Prof Elite Opportunities 9391 Aviva Investors Prof Elite Opportunities
Portfolio Partners Prof Emerging Shares 5896 Aviva Investors Prof Small Companies
Portfolio Partners Prof High Growth Shares 5851 Aviva Investors Prof High Growth Shares
Portfolio Partners Prof High Yield 15143 Aviva Investors Prof High Yield
Portfolio Partners Prof Income Plus Growth 5898 Aviva Investors Prof Income Plus Growth
Portfolio Partners Prof Listed Property 7050 Aviva Investors Prof Listed Property
Portfolio Partners Prof Long/Short Sustainability 14340 Aviva Investors Prof Sustainable Investment
Portfolio Partners Prof Premier Fixed Income 7049 Aviva Investors Prof Premier Fixed Income
Portfolio Partners Prof Shares 5900 Aviva Investors Prof Australian Shares
Portfolio Partners Wholesale Emerging Shares 4578 Aviva Investors Wholesale Small Companies

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