Aviva Investors North America Inc. plans to enter the U.S. mutual fund market with the launch of an asset preservation fund that it plans to launch on Aug. 30.

“We’re very excited about the opportunity to launch our first fund,” said Mark Cernicky, product development manager for Aviva Investors, a subsidiary of Des Moines-based Aviva USA.

Aviva Investors will manage the fund, which will be marketed by Aviva USA through its WealthStar Alliance to registered investment advisers to offer to their clients. Cernicky declined to say when additional mutual funds will be announced.

The Multi-Asset Preservation (MAP) – 2015 Fund will allow investors to participate in potential market gains from multiple asset classes while seeking to preserve capital with the backing of U.S. Treasury zero-coupon bonds with a five-year horizon, Cernicky said. The fund will use a proprietary, rules-based institutional asset allocation strategy developed by Aviva Investors, and a special redemption feature designed to pay shareholders a distribution from the fund in November 2015.

Because the fund will return gains to shareholders rather than reinvest them in the market, investors will be less likely to take losses if the market goes down, Cernicky said.

“We think the combination of capital preservation, market participation through a mutual fund that has daily liquidity and investment transparency should help us differentiate our product,” he said. The fund’s rebalancing formula automatically concentrates exposure to the best-performing exchange-traded fund in the portfolio and then returns those gains to shareholders.

Cernicky said it would be premature to comment on future mutual fund offerings by Aviva Investors.

“We are very committed to making (MAP 2015) successful, and that’s what we’re focused on now, to get positive results for this fund,” he said.