Aviva’s Unit Linked Fund (Balanced Fund) has posted an impressive return of 59% in the financial year 2003-2004.
Aviva’s Unit Linked Fund (Balanced Fund) has posted an impressive return of 59% in the financial year 2003-2004. Aviva has shown a continuous increase in its fund value from the launch until March 31, 2004 and the CAGR on the fund since inception in June 2002 is 36%. As on March 31, 2004, the asset profile for the Balanced Unit Linked Fund has 50-90% holding of government and debt securities, equities 0-45% and cash and money market 0-10%.
Aviva is one of the few insurance companies to have an in-house fund management team. Based in Mumbai, the team uses world-class software and infrastructure for its research and analysis. The philosophy behind Aviva’s fund management is to invest in established businesses with a proven track record, capture the long term business cycles while investing in securities and keep trading turnover low by investing with a two to three year time frame.
The Balanced Fund is the flagship fund of Aviva’s Unit Linked product. From February this year, in addition to the existing Balanced Fund, Aviva has introduced a Secure Fund and a Growth Fund option in its LifeBond5 product. The customer has the flexibility of switching from one fund to another. The Growth Fund provides high capital growth by investing a higher element of assets in the equity market. The Secure Fund gives a minimum guarantee of return of premium on maturity irrespective of the fund performance, while giving all upside benefits.
Congratulating the team on the occasion of the fund performance, Mr Vivek Khanna, Director, Marketing, Aviva Life Insurance said, “Globally, Aviva is regarded as a prudent fund manager. In India too, we are building such a reputation for ourselves. With the customers as our key stakeholders, it is our constant endeavour to ensure that their money is not only safe with us, but also promises them good returns. We therefore try to ensure that our fund performance is least affected by the market fluctuations by prudently investing the customer money.”
Worldwide Aviva has assets under management of more than US$400 billion. It is the second-largest UK based fund manager. Aviva is a top five fund manager in Ireland and The Netherlands and top five master trust in Australia through Navigator. It also has significant fund management business in France.
For further information, please contact:
Preeti Bakaya
Aviva Life Insurance Company India Pvt. Ltd.
tel: 91124 2804141 ext: 5406
e-mail: preeti.bakaya@avivaindia.com
About Aviva
Aviva Life Insurance is a joint venture between Dabur and Aviva. Aviva Plc is the UK’s largest insurance Group and the world’s oldest insurance Group, with a history dating back to 1696. Today, it is the seventh largest insurer worldwide, with 30 million customers and Ł240 billion assets under management.
Founded in 1884, Dabur is one of India’s oldest and largest groups of companies with annual sales in excess of Rs 1,350 crores. A professionally managed company it is the country’s leading producer of traditional healthcare products.