Alliance Trust Investments (ATI) has completed its acquisition of Aviva Investors' sustainable investment team and funds.
ATI says it is now one of the largest manager of sustainable and responsible investments in the SRI market with a portfolio of eight funds (one SICAV and seven OEICs) totalling £1.37 billion.
It said: "The fund has an exceptionally strong track record, over a three-year period it has outperformed its benchmark by 5.85%, with cumulative performance of 43.8%."
Alliance announced the deal 12 months ago and said the five-man SRI team headed by Peter Michaelis would transfer from Aviva to ATI's London office with completion by the end of August last year.
Formal responsibility for Aviva's £1.2bn of funds passed to ATI in January.
Now the Dundee-based group says the Sustainable Future Pan-European Equity Fund has moved from the Aviva Investors SICAV and has merged with Luxcellence to become the Luxcellence - Alliance Trust Sustainable Future Pan-European Equity Fund, a sub-fund of the Luxcellence SICAV.
ATI confirmed there would be no changes to investment process or philosophy and added: "The team has been managing the Sustainable Future Pan-European Equity Fund for 12 years, and will continue to do so.
"It will also continue to work with the independent SRI Advisory Committee - a group of experts who provide additional oversight and advice on the funds."
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