Following today's announcement that Ian Pizer is stepping down as a day-to-day portfolio manager of the Aviva Investors Multi-Strategy Target Return and Target Income funds, we have taken the decision to remove the suspended A ratings of both funds.

Mr Pizer's relinquishment of portfolio management responsibility is the latest in a series of recent changes to the senior portfolio management teams of the AIMS funds, which had already caused us to suspend the funds' A ratings. Only Peter Fitzgerald of the founding named portfolio managers now remains.

We will continue to monitor closely the progress of the two funds as the reorganisation and rebuilding of Aviva's multi-strategy team becomes embedded and matures.