Hedge Funds

Volatility drives Aviva's macro vehicle


Aviva Investors has begun raising external money for its Aviva Global Macro fund, a multi-asset-class strategy that the firm launched quietly last year and which racked up an impressive 18.3% gain in its first full year of trading.

The fund - which launched in January 2008 and manages £125 million of mostly internal money - is managed by Adrian Jarvis, the head of strategy at Aviva Investors, and portfolio manager Steve Cleal. After a fine first year, 2009 has also started strongly - with the fund up by some 3.2% in January and returning 2.19% in February.