Munro quits Standard Life for Aviva

July 19, 2013  

Read more:

By Joy Dunbar

Euan Munro (pictured), fund manager of the flagship Global Absolute Return Strategies or GARS, has left Standard Life Investments to become chief executive of Aviva Investors in January.

He was director in charge of multi-asset investing and fixed-income.

Munro established and developed GARS, which is one of the most successful and best performing multi-asset funds globally, and the largest alternative UCITS in the Absolute UCITS database.

GARS, which also won an Absolute UCITS Award in 2012, has assets under management of $27.08 billion in May 2013.

The portfolio, which started life as an internal pension fund for the Edinburgh-based insurer Standard Life in 2005, has gained enormous global popularity with large and small investors including California Public Employees Retirement System.

Mark Wilson, group chief executive officer of Aviva, said: "This is an important appointment for Aviva. Euan’s track record in fixed income and multi-asset management, and his experience in an insurance environment, made him the outstanding candidate to lead Aviva Investors.

"There is significant scope to improve the profitability of Aviva Investors, a core part of the group. Euan will play a pivotal role helping Aviva Investors capitalise on its expertise managing Aviva’s own funds, become a stronger third party manager and increase its contribution to the group."

Munro added: "I am joining Aviva because I see a clear opportunity to unlock the potential of Aviva Investors, a well established business with impressive scale and significant investment talent.

"Aviva Investors’ proven investment capability means that it is well placed to meet the growing demands from the institutional market for income with low volatility."

Guy Stern takes over from Munro and has been appointed to the board of firm as head of multi-asset and macro investing.

For a free trial of Absolute UCITS please click here.   

Latest Poll

How will hedge funds finish 2017?

 - 72%
 - 11%
 - 17%

View previous results