Aviva Funds Global REIT Fund launched

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Aviva Funds Global REIT Fund launched

The Aviva Funds Global REIT Fund has been announced. The real estate investment trust (REIT) will invest in listed real estate securities across the world.

Morley fund management, which is a subsidiary of Aviva, will work in cooperation with international property company CB Richard Ellis Investors to launch the fund.

Customers will have the opportunity to invest in property from Asia and Australia as well as the UK and America.

They will also be offered a performance target 100 basis points above the benchmark set by global asset management company UBS.

Chris Laxton, head of external property funds at Morley, said: "Since 1990 the value of the global REIT market has increased from $150 billion to more than $640 billion. This rapid growth is set to continue with the imminent launch of REITs in the UK and Germany."

He also claimed that the Aviva Funds Global REIT Fund would offer investors diversity in their choice of investment and that property interests were less volatile than many other types of asset.

Morley is Aviva's UK-based asset management business and manages £155 billion of funds from across the globe.

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