Aviva

Aviva has acquired US equity manager River Road Asset Management as it looks to grow its institutional business and expand in the US market.

UK/US - Aviva has acquired US equity manager River Road Asset Management as it looks to grow its institutional business and expand in the US market.

IRELAND - Aviva Investors is set to shut down most of its Irish operations, leaving only a service centre in Dublin.

Friends Provident has appointed Dominic Fryer as strategy and risk manager in its corporate team.

UK - BlackRock Investment Management will transfer two real estate funds of funds worth £54.8m (US$90.4m) and €62.6m (US$93m) to Aviva Investors Global Services after the fund manager left the firm for Aviva.

Aviva's life and pension sales fell 11% in the first nine months of 2009, but the insurer says it has made significant improvements to its capital position.

Pensions review reveals breaches of disclosure rule; Pension funds recover $1.5trn; Insurers fear calamity over EU rules on bank bonds

BELGIUM - The European Fund and Asset Management Association (EFAMA) - the representative body for the European investment management industry - has announced the creation of the "President's Advisory Council".

Aviva has called on the government to scrap higher rate tax relief on pensions and introduce a blanket unified relief rate of 30%.

Level annuity rates continue to decline in October as the top two providers slash rates, according to Alexander Forbes Annuity Bureau.