Aviva’s Luxembourg fund company announces the launch of the Privilege Portfolio-Euro Smaller Companies Fund on 5 November 2002.
Aviva’s Luxembourg fund company announces the launch of the Privilege Portfolio-Euro Smaller Companies Fund on 5 November 2002. The fund aims to achieve capital growth by investing primarily in Euro-zone companies with a market capitalisation of €2.5bn or less and will hold around 50 to 60 stocks. The benchmark for the new fund will be the HSBC Smaller Euroland Index.
The Privilege Portfolio-Euro Smaller Companies Fund will be managed by Camilla Reeves, who joined Aviva’s Fund Management company, Morley Fund Management (‘Morley’), in August 2002. Prior to joining Morley, Camilla, who has over 11 years of experience in fund management, was a key member of the small and mid cap team at Lombard Odier. She has spent five years specifically covering European small and mid caps.
The focus of the Privilege Portfolio-Euro Smaller Companies Fund will be companies with attractive valuations that have the potential for superior growth to the market and the possibility to benefit from merger and acquisition activity. Smaller companies tend to specialise in a concentrated number of areas, offering niche products or services that are experiencing long-term growth trends. The result is that these companies are less complex than their larger counterparts, making them more transparent and easier to value.
The Privilege Portfolio-Euro Smaller Companies Fund adds a further opportunity for European diversification within the Privilege Portfolio range of funds, offering opportunities that may fall outside the objectives of the larger company focused Privilege Portfolio-European Growth Fund. Smaller companies generally operate across more sectors than larger companies and tend to be more domestically focused.
Camilla Reeves, manager of the Privilege Portfolio-Euro Smaller Companies Fund said: “With the Privilege Portfolio-Euro Smaller Companies Fund we aim to invest in focused, niche businesses that we believe enjoy superior growth prospects to the market. In our opinion, careful stock selection and constant contact with company management is the key to performance in these difficult market conditions. After a severe market correction, we believe that the timing for investment in these low valued companies is excellent.”
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For further information:
Stephen Roberts, Head of European Retail Marketing
Tel: +352 40.28.20.319
Fax: +352 40.83.58.319
e-mail: stephenroberts@privilege.lu
GSM: +352 021.265.611
Notes to editors:
- The value of an investment in the Privilege Portfolio funds can fall as well as rise. The investor may not get back the original amount invested.
- The information contained within this document should not be construed as a recommendation to purchase or sell stocks.
- Privilege Portfolio is the Luxembourg domiciled investment fund of the Aviva Group with 29 sub-funds ranging from lower risk money market and bond funds through international and regional equity funds to more speculative single country and theme funds.
- Morley Fund Management Limited is the Investment Adviser to Privilege Portfolio and is a member of the Norwich Union Marketing Group, members of which are regulated in the UK by the Financial Services Authority for life assurance, pensions and investments. Morley Fund Management Limited is an Aviva company.
- Aviva is the UK's largest insurance group, one of the top- five life insurers in Europe and has substantial positions in other markets around the world. Aviva is the world’s seventh- largest insurer based on worldwide gross written premiums.
- Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and investment sales from ongoing business of more than Ł28 billion, and over Ł200 billion in assets under management at 31 December 2001.