Aviva Investors North America Inc., a subsidiary of West Des Moines-based Aviva USA, last week announced the launch of two new mutual funds: the Aviva Investors Core Aggregate Fixed Income Fund and the Aviva Investors High Yield Bond Fund.

The new funds are primarily intended for institutional investors, and will be offered in an institutional share class with a minimum initial investment of $1 million.

Rob Ranges, head of Aviva Investors’ North American business development, said the new funds will enable the company to “serve a wider range of institutional clients through a familiar investment vehicle.” Aviva Investors affiliates manage more than $370 billion worldwide, including more than $55 billion in North America.

The Aviva Investors Core Aggregate Fixed Income Fund seeks to exceed the total return of the broad, U.S. dollar-denominated investment-grade bond market. The Aviva Investors High Yield Bond Fund seeks to produce a high total return through high income and capital appreciation, investing primarily in high-yield bonds issued by U.S. and foreign companies.

Aviva Investors first entered the U.S. mutual fund market in August 2009 with the launch of an asset preservation fund.

Investors seeking more information about the two newest funds can contact Aviva Investors by phone at (877) 515-4725, or by e-mail at mutualfunds.na@avivainvestors.com.