Aviva shuns Irish bonds
Published 06/02/2011 | 05:00
AVIVA, the massive insurance company that paid €50m for naming rights to the new Lansdowne stadium (above), is steering clear of investing in Ireland.
Last week, Aviva Investors, which manages assets worth €270bn, revealed it no longer held any Irish bonds over fears that the Government may default or change repayments terms on the debt.
Deputy chief investment officer Shahid Ikram added that the company was considering investing in bonds issued by the European Financial Stability Fund.
Aviva joins Russia and Chile as investors who have publicly steered clear of Irish government debt.
Sunday Indo Business