Grant Shapps has warned Aviva against any “immoral” withdrawal of backing for defence companies, after a letter it sent to investors triggered a backlash from the Ministry of Defence. Aviva, which manages £221bn of assets including insurance and pension funds, told customers last week it would be selling out of “certain companies that do not meet our Aviva Baseline Exclusion …
Europe’s largest activist investor has increased its stake in Aviva, piling further pressure on boss Amanda Blanc to hand back more cash to shareholders. Cevian Capital, an Anglo-Swedish investment firm, has upped its holding in Aviva from 5pc to more than 6pc, giving it a stake worth nearly £1bn. The activist first revealed its investment in June and launched a …
