Aviva Life''s Growth Fund Reports 35% Rise

Aviva Life Insurance India''s growth fund has registered a compounded annualised growth of 35% since its start in January 2004. The fund, which aims to provide long-term cumulative capital appreciation while managing the risk of a relatively high exposure to equities, has sought to diversify its portfolio by spreading its assets over a range of sectors. Equities comprised of around 65% of its net assets at the end of the March quarter. On the other hand, Aviva India''s balanced fund, which has about 32 per cent invested in equities, has recorded a CAGR of 25 per cent since inception in June 2002. Almost 65 per cent of Aviva India''s business is owing to bancassurance; the company intends to tap other distribution channels more effectively.