Aviva Investors mulls overhaul of listed real estate business

 
Michael Bow
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AVIVA Investors could close its global listed real estate business divisions in New York and London as it reviews the way it manages its listed real estate securities, it was revealed yesterday.

The firm, the asset management division of insurance giant Aviva, has written to advisers informing them its current business has “insufficient scale” to compete globally. It is mulling refocusing its efforts in Asia Pacific.

Aviva Investors investment sales manager John Palmer said: “Though this is subject to consultation with affected employees, it is likely that the review will culminate in Aviva Investors closing the dedicated London and New York desks.”