Aviva has appointed Aviva Investors, Ausbil Dexia, Goldman Sachs JBWere, Perennial Investment Partners and UBS as fund managers for its new separately managed account (SMA) products.
The managers will in total offer eight model portfolios, which include income, core and growth-style share portfolios as well as an index model that contains the 20 largest Australian stocks.
"We believe the potential for SMAs in Australia is huge," Aviva investment products distribution development manager Stuart Fechner said.
"It is anticipated that SMAs will account for around 10 per cent of the Australian equities investment market by 2015."
Standard and Poor's is currently reviewing the products and is expected to publish ratings within the next couple of weeks, Fechner said.
Once a rating has been given dealer groups can add the SMAs to their approved product lists.
Aviva will start a pilot program next week and expects to have the products on most product lists by September this year.
Aviva general manager marketing and public relations Tim Cobb did not rule out adding more fund managers in the future, but he emphasised the firm's first concern is to build scale over the next six to 12 months.
"We think we have a broad enough range to get some initial scale," he said.
"We might have missed something, [but] I don't think, from the research we have done over the last 12 to 18 months, we have."
