The AIMS Target Return Fund and AIMS Target Income Fund “seek to preserve capital by investing in a globally diversified multi-strategy portfolio with targeted volatility of less than 50% of that of global equities”, the firm said.
Over any rolling three-year period, the target return product aims to deliver a return of 5% per annum above the European Central Bank base rate and the target income vehicle intends to deliver an annualised 4% income yield above the ECB base rate.
Both products are sub-funds of Aviva’s Luxembourg-domiciled UCITS, incorporated as SICAV.
The funds are on the Monetary Authority of Singapore’s list of restricted schemes, Aviva said. They are available to institutional investors and certain restricted categories of investors, including high net-worth individuals.
“Having the two multi-strategy funds successfully registered in Singapore marks a major milestone for Aviva Investors’ as we enter a new phase of growth for the business,” said Kevin Talbot, CEO of Asia Pacific. “Our focus is to be global leaders in outcome-oriented solutions, which are our AIMS range of funds.”
However, multi-asset products have had a hard time in Asia. During Q3, retail investors in the region fled multi-asset funds, which had $105bn in redemptions, according to data from Strategic Insight.