Aviva fund manager takes 5% of Nomad

Investment fund Aviva Investors Australia has emerged as a substantial shareholder in modular and transportable buildings manufacturer Nomad Building Solutions, taking more than 5 per cent for $860,000.

Last week Nomad posted an overall profit of $13.3 million following the economic downturn negatively impacting its clients' investment decisions and an impairment charge of $6.8 million.

Aviva Investors is a global asset management company with over $500 billion in assets under management. It has 1,100 employees in 11 countries.