Deals & People January 5, 2010

Aviva Buys Value Manager

Aviva Investors has agreed to buy 100% of River Road Asset Management, a Louisville, Kentucky-based U.S. value equity manager.
Reported by

A news release said River Road will form part of Aviva Investors North America (AINA), which specializes in institutional fixed income and liability driven asset management for insurance companies, public pension funds, foundations and endowments, family offices, and other institutional clients. AINA is headquartered in Des Moines, Iowa.

River Road serves domestic and international clients through institutional separate account and investment sub-advisory services. The company uses a proprietary “absolute value” investment philosophy with an objective of providing attractive, sustainable returns over the long-term while minimizing downside portfolio risk. River Road said it had $3.6 billion in assets under management as of November 30.

“We are very excited about the opportunities this transaction presents,” said James C. Shircliff, CEO of River Road, in the release. “It will allow Aviva Investors to integrate River Road’s equity investment expertise and strong institutional relationships, while allowing River Road to leverage the fixed income capabilities, financial strength, and global presence of Aviva Investors.”

River Road’s management team will remain unchanged and River Road will continue to be based in Louisville. The deal is expected to be completed by the end of the first quarter.

Products January 5, 2010

Compass EMP Launches Alternative Investment Fund

Compass Efficient Model Portfolios (EMP) has launched the Compass EMP Alternative Investment Fund (CAIAX, CAICX, and CAITX).
Reported by

A press release said the Compass EMP Alternative Investment Fund, constructed with exchange-traded funds (ETFs), is a global, multi-asset class portfolio with broadly diversified alternative investments including commodities, managed futures, currencies, real estate, emerging market equities, and inflation protected bonds. The fund’s investment objective is long-term capital appreciation with current income as a secondary objective.

The fund Compass EMP family of funds includes the Compass EMP Long-Term Growth Fund (LTGAX, LTGCX, LTGTX) and Compass EMP Conservative-to-Moderate Fund (CTMAX, CTMCX, CTMTX).

“After the successful market adoption of our initial funds launched last year, we chose to act upon demand in the marketplace for an alternative investment mutual fund based upon the asset allocation models which we have been utilizing for our institutional clients since 2003,” said Stephen M. Hammers, managing partner and chief investment officer for Compass EMP, in the release.

More information is available at www.CompassEMP.com.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

«