Aviva has sold its entire stake in Aim-listed Lighthouse Group.
That stake increased to 8 per cent this summer.
The spokesman for Aviva said the stake in Lighthouse was sold to Charles Stanley.
Aviva selling off their stake comes after last week Lighthouse Group launched Luceo Asset Management, a wholly-owned subsidiary which will provide in-house investment products to the firm’s clients.
Its initial fund range, the Luceo Investment Funds, have been designed to be provided by Lighthouse advises and includes three active multi manager funds.
The funds will be managed by Octopus Investments and sit within each of the three most popular risk bands for Lighthouse clients.
They will initially be available through a new platform set up with Zurich called the Lighthouse Zurich Platform.
Source: FT Adviser