Our approach to multi-asset & multi-strategy
Investors require solutions that address their need for capital appreciation, income, diversification and lower-risk outcomes. We take these requirements as our start point, and use the breadth of experience and market insight available to us across the business in order to deliver solutions that address these needs.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Strategies in focus

Multi-asset & multi-strategy in focus

The ESG journey in our multi-strategy process
Multi-strategy portfolios have come a long way in embedding ESG into the investment process, as Jennie Byun, Mark Robertson and Thomas Dillon explain.
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Democratic “Blue Wave” - a game changer for financial markets
The Democratic “Blue Wave” scenario has finally happened. Will this be a game changer for financial markets? Find out with David Nowakowski (DN), Senior Investment Strategist and Fabio Faltoni (FF), Multi-asset & Macro Investment Director.
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Multi-asset allocation views: Changing seasons, changing dynamics
After a strong summer, conditions are changing in asset markets. Sunil Krishnan assesses the risks and opportunities for investors.
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Multi-asset allocation views: What we can learn from earnings season
Investors have faced several surprises during Q2 earnings season. Sunil Krishnan discusses what the current results round means for multi-asset investors over the coming months.
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Multi-asset allocation views: Finding opportunities in the crisis
Despite uncertainty around lockdown exits and economic recovery, the role of a fund manager is to explore hidden opportunities as well as protect capital. Sunil Krishnan discusses why investment-grade credit and European assets could fit the bill for multi-asset portfolios.
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Multi-asset allocation views: How long will the COVID-19 damage last?
Nearly three months after COVID-19 caused markets to crash and sent countries across the globe into lockdown, debates continue over what the post-COVID world will look like and the extent of the long-term damage. Sunil Krishnan remains cautious.
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Multi-asset allocation views: Uncertainty clouds the outlook for European assets
Sunil Krishnan considers whether Europe can break out of its economic malaise and the factors investors should watch out for in 2020.
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Multi-asset allocation views: The pros and cons of higher-yielding fixed income
Sunil Krishnan asks whether higher-yielding fixed income assets remain good diversifiers for multi-asset portfolios in the current environment.
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Multi-asset allocation views: Could Japan outperform other equity markets?
Sunil Krishnan argues that low expectations among domestic and global investors are reflected in Japanese equity valuations, creating an opportunity for the asset class to play catch-up with the rest of the world.
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Multi-asset allocation views: Why now is not the time to give up on US Treasuries
There is still a good case for US Treasuries and long duration in multi-asset portfolios, argues Sunil Krishnan.
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Calibrating cycles: Why life and market cycles don’t always align and what to do about it
Markets and our personal finances rarely march to the same beat. In this piece, Francois de Bruin highlights some investment strategies for successfully navigating the retirement journey.
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Multi-asset & multi-strategy team

Peter Fitzgerald
Chief Investment Officer, Multi-asset & Macro and Portfolio Manager, AIMS Target Return and Target Income Funds
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Mark Robertson
Head of Multi-Strategy and Portfolio Manager, AIMS Target Return and Target Income Funds
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Sunil Krishnan
Head of Multi-asset Funds
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Michael Grady
Head of Investment Strategy and Chief Economist
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Dhannjay Hirani
Head of Implementation, Multi-asset & Macro
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Ian Pizer
Senior Strategist, Multi-asset & Macro
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Multi-asset & multi-strategy views

Multi-asset allocation views: Loose policy doesn’t rule out a steeper curve
15 Apr 2021
While inflation is expected to rise after last year’s lows, it will likely be transitory. Sunil Krishnan explores what this means for the economy, yield curves and equity markets.
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Divergence, debt sustainability and climate: Key takeaways from the IMF Spring meetings
14 Apr 2021
Debate over the short- and longer-term consequences of COVID-19 dominated the Spring meetings of the International Monetary Fund, with our emerging-market debt team among those following discussions closely.
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Lean on me: How can bond investors influence government climate action?
25 Mar 2021
The coronavirus epidemic has further accelerated the rise of ESG into the investment mainstream. As deficits skyrocket, bond investors have an opportunity to engage with governments on climate change, argues Thomas Dillon.
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Why it is getting harder to assess value in financial markets
19 Mar 2021
Massive intervention by central banks and governments in recent years has left investors struggling to value financial assets.
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Zero rates: Too much of a good thing?
9 Mar 2021
The inexorable rise in asset prices caused by the seemingly never-ending era of monetary easing is calling into question long-held investment beliefs, as members of our multi-asset & macro and equities teams explain.
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From crisis comes opportunity: What’s normal now?
2 Mar 2021
Big challenges bring us the opportunity to think differently. Our investment teams reveal what they have learnt from COVID-19, and how they are preparing to face whatever ‘normal’ emerges in a post-pandemic world.
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Multi-asset allocation views: Room to grow
16 Feb 2021
The early part of a year gives investors an opportunity to take stock. Sunil Krishnan reflects on how the current environment is shaping our views for multi-asset portfolios.
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Our annual letter to company chairpersons
15 Jan 2021
As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.
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Vaccine hope, Biden and central bank policy: The outlook for multi-asset in 2021
17 Dec 2020
Sunil Krishnan highlights some of the themes that will shape multi-asset investing in 2021.
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Liquidity, uneven recoveries and debt sustainability: The outlook for emerging-market debt in 2021
17 Dec 2020
Liam Spillane, head of emerging market debt at Aviva Investors, picks three themes that could have a big say in how the asset class performs in 2021.
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COVID, climate and Black Lives Matter: The stories that defined 2020
10 Dec 2020
We select some of our key pieces of content in a year of unending drama.
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Income investing: The return of Goldilocks and the three bears
3 Dec 2020
The Goldilocks environment is back, but bears are lurking in the shadows. Francois de Bruin explores the risks and opportunities that need to be managed to get outcomes that are “just right”.
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Multi-asset allocation views: Changing seasons, changing dynamics
15 Oct 2020
After a strong summer, conditions are changing in asset markets. Sunil Krishnan assesses the risks and opportunities for investors.
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Short story: Why Fed action could be bad news for the dollar
12 Oct 2020
With US real interest rates sinking ever more deeply into negative territory as the Fed signals it is on hold for a prolonged period, the outlook for the dollar is bearish for the first time in a decade, argues Mark Robertson.
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Sustainability: Drawing force from lines of tension
6 Oct 2020
Much like a gem is forged under pressure, the ESG movement is powerful because it results from tension at multiple levels: between art and science, absolute and relative, exclusion and engagement. Francois de Bruin explores the lines of tension underpinning the investment approach to sustainability.
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The clockmaker and the longitude problem: A lesson for investors in bottom-up problem solving
25 Aug 2020
Bottom-up thinking is not a typical hallmark of multi-asset investing. However, Francois de Bruin believes the granularity that comes from this approach offers useful diversification and risk benefits.
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