Seeking diversification and attractive returns from high yield
At Aviva Investors, we have been investing in high yield debt for our clients for over 25 years. We manage $3.6 billion of assets (as of 31 May 2025) across a range of pooled fund solutions in Global High Yield and Short Duration Global High Yield as well as bespoke solutions for clients via segregated mandates.
Our investment style is underpinned by a fundamentally driven approach and powered by advanced data analytics, aiming to deliver consistent outperformance throughout the market cycle. What sets us apart is our ability to integrate technology and maximise our resources by removing traditional asset class boundaries.
Why invest?
As long-term fundamental investors, we have two broad aims: to exploit the inefficiencies in the global high yield market and to outperform through the market cycle using diversified sources of alpha and robust portfolio construction.
Our approach aims to deliver:
Diversified alpha
We seek to capture excess returns from across the full global high yield spectrum for maximised risk-adjusted returns.
Enhanced capital preservation
Our investing approach and framework is designed to enhance returns from high yield markets while withstanding market volatility.
Consistent performance
Our aim is consistency in returns through various credit cycles, through robust portfolio construction.
High yield investment funds
Find the latest prices and performance data in our fund centre via the links below. If you have any questions, please contact our distribution team.
Aviva Investors Global High Yield Bond Fund (SICAV)
This fund aims to maximise total returns and generate income. We have a strong emphasis on limiting drawdowns by investing in a high conviction, diversified portfolio of global high yield bonds.
Aviva Investors Short Duration Global High Yield Bond Fund (SICAV)
This fund follows a similar approach to our Global High Yield fund, but focuses on bonds with a maturity of five years or less.
Investment philosophy
We believe income is the biggest driver of high yield returns. We combine deep bottom-up credit research with advanced data analytics, macro insights, and cross-capability collaboration to construct high-conviction, globally diversified portfolios with a focus on resilient, income-generating credit.
This disciplined, tech-enhanced approach enables us to navigate market cycles with consistency, preserve capital, and unlock diversified alpha across the full spectrum of global high yield.
Global and connected
Our global and connected approach enables us to identify opportunities across the entire high yield spectrum.
Resilience plus
We anchor portfolios in resilient, high conviction credits, guided by rigorous bottom-up analysis, allowing us to focus on quality and durability of income while tactically capturing capital appreciation opportunities.
Robust portfolio construction
Our differentiated approach combines rigorous top-down and bottom-up analysis with advanced data analytics, using proprietary technology to build robust, high conviction portfolios
Investment insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
Views
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Taking the leap: Incorporating climate in core investment-grade allocations
19 Jun 2026
How can investors align their credit allocations to net-zero commitments and maintain returns?
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Confidence in a changing climate
15 Jun 2026
How can institutions forge impactful climate strategies that are right for them and their end beneficiaries? Our “Confidence in a changing climate” guide showcases some of the solutions we have developed to help.
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The week in markets: Investors search for firmer ground
12 Jun 2026
Investors searched for firmer ground as strong jobs data and simmering geopolitical tensions unsettled equities, before a late-week rally helped restore some stability.
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Bond Voyage: Why repo is quietly becoming one of the most important issues for investors
9 Jun 2026
As central banks unwind quantitative easing (QE), liquidity is increasingly being provided through repo operations instead of continuous asset purchases by the banks. How resilient is this new approach?
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Blockchain: The quiet technology reshaping financial infrastructure
8 Jun 2026
Tokenisation is more than a technical novelty. Our simple guide explains how blockchain turns assets into digital tokens and examines the potential benefits and risks.
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Sustainability review 2025
2 Jun 2026
We believe understanding sustainability factors and trends is fundamental to effective asset management. This report sets out our approach and includes an overview of our holistic stewardship activities over the past year
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Clarity and resilience: New guidance for European Money Market Funds
21 May 2026
New guidance on the rules governing European money market funds should strengthen the market’s foundations and provide a firm footing for innovation and growth, argues Alastair Sewell.
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Bond Voyage: Emerging markets have changed: why markets shouldn’t price them like it's 2013
11 May 2026
Emerging markets have increasingly forged for themselves a path less dependent on external conditions, making local currency debt one of the most mispriced narratives in global markets.
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Contemporary alchemy
5 May 2026
Precious metals such as gold and silver, rare earth minerals, and industrial metals such as copper have been making headlines in recent months. We talked to a team of experts to discover what’s been driving investors’ appetite.
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The case for ReturnPlus: A capital-efficient enhanced liquidity strategy
30 Apr 2026
The ReturnPlus strategy invests in a broad range of liquidity sub-asset classes, while consuming limited regulatory capital. Our ReturnPlus team explains why investors should consider an allocation to the strategy.
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The case for ReturnPlus: A capital efficient enhanced liquidity strategy
30 Apr 2026
The ReturnPlus strategy invests in a broad range of liquidity sub-asset classes, while consuming limited regulatory capital. Our ReturnPlus team explains why investors should consider an allocation to the strategy.
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Bond Voyage: Oil shocks without the drama
9 Apr 2026
The reaction to the latest oil price shock provides further evidence that those countries which have taken steps to strengthen their financial position are being rewarded by bond investors.
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Bond Voyage: Markets repricing as Gulf conflict threatens energy shock
12 Mar 2026
The ongoing conflict in the Middle East continues to impact the markets while inflation expectations are recalibrated.
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Bond Voyage: Dancing to a new tune: How Japan’s Lifers are adapting to a market in flux
9 Feb 2026
Japan’s bond markets enter 2026 transformed and recent structural shifts have changed the behaviour of the country’s powerful life insurers.
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Bond Voyage: Industrialised alpha meets fixed income fragility
13 Jan 2026
Could the proliferation of short-term leverage strategies be the next hidden challenge for fixed income markets?
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Bond Voyage: Hyperscalers issue debt to finance huge investments in generative AI data centres
12 Dec 2025
In the last Bond Voyage edition of 2025, we examine the vast amounts of capital being deployed to build new high-capacity data centres and how the expenditure is being funded in the bond markets.
Bond Voyage
Bond Voyage: A journey into fixed income
Each month, our freewheeling fixed-income newsletter gathers insights from our high-yield, investment-grade, emerging-market and global sovereign bond teams.
House View
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.
Aviva Investors Global High Yield - Strategy in Brief
A disciplined, tech-enhanced, approach to building high-conviction, globally diversified portfolios.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Investment risk
The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.
Credit & interest rate risk
Bond values are affected by changes in interest rates and the bond issuer's creditworthiness. Bonds that offer the potential for a higher income typically have a greater risk of default.
Derivatives risk
Investments can be made in derivatives, which can be complex and highly volatile. Derivatives may not perform as expected, meaning significant losses may be incurred.
Investor in funds
Investments can be made in other funds; this could mean the overall charges are higher.
Illiquid securities risk
Some investments could be hard to value or to sell at a desired time, or at a price considered to be fair (especially in large quantities). As a result, their prices can be volatile.
Sustainability risk
The level of sustainability risk may fluctuate depending on which investment opportunities the Investment Manager identifies. This means that the fund is exposed to Sustainability Risk which may impact the value of investments over the long term.
High yield bond team
Fabrice Pellous
Global Head of High Yield
Pierre Ceyrac
Senior High Yield Portfolio Manager
Explore
Fixed income
Fixed income is an indispensable building block for meeting a variety of investment goals, including income, inflation protection, liability management and capital appreciation.
Note for UK Investors: This Fund is domiciled in Luxembourg and is authorised by the Commission de Surveillance du Secteur Financier (CSSF). The Fund is recognised in the UK under the Overseas Funds Regime but is not a UK-authorised Fund and therefore is not subject to UK sustainable investment labelling disclosure requirements. UK investors should be aware that they can make a complaint about the fund, its management company, or its depositary. However, complaints may not be eligible for resolution by the UK’s Financial Ombudsman Service and any claims for losses related to the management company or depositary will not be covered by the Financial Services Compensation Scheme (FSCS). UK investors should consider seeking their own financial advice before making any decisions to invest and refer to the scheme prospectus for further information.