Aviva is to launch a Shariah lifestyle investment strategy.

It enhances its existing Sharia offering and will include a suite of Islamic-compliant funds.

Umar Yaqoob, Workplace Investment Proposition Manager at Aviva, said: “Historically in the market, Shariah investors have had to make their own investment choices and have relied on a single fund solution without access to risk reduction.

“Market solutions are starting to evolve, but it is important that they go beyond simply moving investments from a higher risk fund to a lower risk fund and take into account the different ways people will access their pension. “

Aviva said the new strategy will give members a greater range of options as they approach retirement, giving its workplace pension members a universal risk reduction option as well as a targeted drawdown path.