Our approach

Clients benefit from our consistent approach of looking through market noise and taking a longer-term view. We invest based on company fundamentals with a rigorous focus on cash generation and valuation.

We look for investment ideas based on three stock characteristics (as described below) that recognise cash flow as the key driver of returns over the longer term, and that each company demonstrates a variety of attractive attributes at different stages of their corporate cycle and the broader economic cycle.

Future cash flow

Under-appreciated investment opportunities, driven by structural reasons and not a momentum or upgrade story. Businesses must be able to cover their cost of capital.

Cash compounders

Companies with seemingly unique value, such as stocks that hold a leading position in their industry, have high barriers to entry or have secure cash flow which can be re-invested or returned to shareholders.

Cash-flow recovery

Companies that offer strategic value, where cash flow may be depleted for company specific or macro reasons but where there are visible catalysts for change and a clear path for cash flow regeneration.

Ratings UK equity income fund

A-rated by Square Mile

The fund is A-rated by Square Mile. You can access their talking factsheet and fund snapshot here.

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Potential benefits

Consistency is a key feature. As well as being an attractive standalone proposition, it can serve as a complementary holding alongside more volatile UK equity funds.

Consistent approach

Over the 10+ years Chris Murphy has managed the fund, he has consistently looked through market noise to construct the portfolio based on company fundamentals with a rigorous focus on cash generation and valuation.1

Connected thinking

Enhanced idea generation from a team-driven approach. All underpinned by connected thinking across our regional equities teams, other asset class teams and ESG input.

Consistent construction

A company’s idiosyncratic risk and liquidity is consistently a key driver in portfolio construction. Aided by peer corroboration and independent challenge from our investment risk team, we aim to provide clients with a diversified portfolio.

Key risks

For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus. 

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. Past performance is not a guide to future performance.

Markets are often driven by fear and greed. We maintain a consistent approach to look through that noise to instead invest on company fundamentals and cash generation while always disciplined about valuation.

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UK equities in focus

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1. Chris Murphy started managing the Aviva Investors UK Listed Equity Income Fund on 17 April 2009.