Aviva Investors US Equity Income Fund I 5 GBP Inc

ISIN

GB00BQPGSJ97

Asset class

Equity

NAV

113.80 GBX (as at 25/02/2026)

View all funds

Fund overview

Objective: The Fund aims to deliver income of at least 125% of the income of the Russell® 3000 Value Index (the “Index”) over any given 12-month period whilst also aiming to grow your investment by providing a combined return of income and growth greater than that of the Index over any given 5 year period, by investing in shares of companies listed on North American stock exchanges.

Due to the Fund’s primary income objective, the Fund’s overall performance may deviate from that of the Index. Focussing on income generation may limit capital growth opportunities. The Fund’s returns are not guaranteed over any time period and capital is in fact at risk.

Both the income and combined return aims are measured before the deduction of Fund charges and tax.

Core investment: At least 80% of the Fund will be invested in shares of companies listed on North American stock exchanges.

Other investments: The Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies), cash and deposits.

Strategy: The Fund is actively managed. The Investment Manager will look to identify quality companies, being companies that engage strongly with their shareholders, and which the Investment Manager believes will pay a high and/or growing dividend.

The process for making these decisions will entail careful analysis of each company’s business model, balance sheet, dividend prospects and valuation, with a view to discovering undervalued companies that demonstrate characteristics which would allow them to generate sustainable future growth.

The investment philosophy, known as “Absolute Value”, supports high conviction investment, typically in companies with a minimum market capitalisation (total market value of a company’s outstanding shares) of $700m at the time of investment.

The Fund is subject to Aviva Investors’ baseline exclusion policy – please see Appendix 2 for information on these limited investment restrictions.

Performance & Risk Measurement: The Fund’s combined growth and income targets are measured against the Index.

*The following mark is owned, and federally registered in the United States, by River Road Asset Management, LLC: ABSOLUTE VALUE® (U. S. Registration No. 4753652).

For more details on the Fund specific risks, click here.

Share class currency
GBP
Return type (Inc / Acc)
Income
Share class
5
Minimum Investment
GBP 1,000,000
Fund size (as at 25/02/2026)
GBP 168.09m
Share class inception date
25/04/2025
Fund launch date
25/04/2025
Performance benchmark
Russell 3000 Value TR GBP
Fund volatility
-
Benchmark volatility
-
SFDR
-
IA Sector
-
Distribution dates
16/01/2026
Income distribution frequency
Quarterly
Latest dividend
0.01

Historic yield

The historic yield reflects distributions declared over the past 12 months as a percentage of the share / unit price, on the date shown. This does not include entry charges and investors may be subject to further tax on their distributions.

3.36%

Underlying yield

This reflects the annualised income net of expenses of the fund as a percentage of the share price of the fund on the date shown. It does not include the deduction of entry charges and is the gross return before tax on distributions.

-

Distribution yield

This reflects the amount that is expected to be distributed over the next 12 months as a percentage of the share price of the fund on the date shown. It does not include the deduction of entry charges and is the gross return before tax on distributions. You may be subject to further tax on your distributions. The yield is not guaranteed.

-
Fund income (gross of charges and taxes)*
1.64%
Benchmark Income (gross of charges and taxes)*
1.85%

*The Fund aims to deliver an income return of at least 125% of the income return of the Russell 3000 Value index.

Trading currency
GBX
NAV (as at 25/02/2026)
113.80
Daily change
0.10%
12 Months NAV high (as at 19/02/2026)
114.76
12 Months NAV low (as at 29/04/2025)
99.90
Valuation frequency
Daily
ISIN
GB00BQPGSJ97
SEDOL
BQPGSJ9
MEXID
-
Bloomberg
AVUEI5A LN

Cumulative performance

Source: Morningstar

Past performance is not a guide to future performance
Basis: Mid to mid, net income reinvested, net of ongoing charges and fees, in the share class reference currency and net of tax payable by the Fund. For full details of the benchmark please see the PDF factsheet.

The Fund's performance is compared against the Russell 3000 Value Index. The Funds historic performance up to 25/04/2025 is shown for the US Equity Income Fund II.

Fund commentary

Summary review (as at January 2026)

As geopolitical uncertainty rose, investors took a cautious first step for 2026. Regardless, the corporate earnings backdrop remained positive. Growth stocks significantly underperformed value and small-cap stocks sharply outperformed large caps in January. The fund underperformed the Russell 3000 Value Index in January. Sector allocation was positive, while stock selection was negative.

Fees and expenses

Fees %

Entry charge Entry charge

Entry charge

A one-off charge may be taken from your money before it is invested. The charge is usually a percentage of the amount invested and is additional to the price paid for the units/shares. The entry charge is deducted from the investment before units/shares are bought and is also known as the “initial charge”.

 0.00

Exit charge Exit charge

Exit charge

A one-off charge levied on redemption of units/shares before the proceeds of your investment are paid out. This is also known as a “redemption charge”.

 -

Ongoing charges Ongoing charges

Ongoing charges

The ongoing charge figure represents the costs you can expect to pay annually based on last year's expenses. The ongoing charges figure is made up of various elements such as the fund management fee, professional fees, audit fees and custody fees. Performance fees (if payable) are not included in this figure.

 0.55

Fund Management fee (included in Ongoing charge) Fund Management fee

Fund Management fee

The management fee is fixed rate charge to cover the costs of managing the investments of the fund. It accrues daily on a percentage of the fund's net asset value and deducted from the fund's assets.

 0.55

Performance fee Performance fee

Performance fee

The percentage of any outperformance of the hurdle rate and/or benchmark that will be taken as a performance fee.

 -

Portfolio

Portfolio stats (as at 31/01/2026)

Aviva Investors - Emerging Markets Bond Fund Iyh GBP Acc Portfolio stats
1 Year 3 Years 5 Years

Alpha

Indicates the excess return provided by the Fund over the benchmark.

 -7.21 -2.70 -0.74

Beta

A measure of the fund volatility in comparison to the market. A beta of less than 1 implies that the fund will be less volatile than the market whilst a beta greater than 1 implies the fund is more volatile than the market. As an example, a fund with a beta of 1.2 would be expected to rise to 1.2 if there was a 1 unit rise of the benchmark, or to fall 1.2 units if there was a 1 unit fall in the benchmark.

 0.74 0.80 0.74

Information ratio

A measure of the manager's ability to generate excess and consistent returns relative to the funds benchmark. The greater the IR, the more consistent a manager is.

 -1.49 -0.74 -0.56

Correlation (%)

Measures the extent to which the Fund and the benchmark move together, a correlation of 1 indicates the Fund matched the benchmark exactly.

 81.83 79.92 76.96

Sharpe ratio

A measure of the fund's risk-adjusted performance. The greater the fund's Sharpe ratio, the better its historical risk-adjusted performance has been. This ratio is best used to compare a number of funds rather than used in isolation for a single fund.

 -0.68 0.13 0.60

Annualised volatility (%)

A measure of the funds dispersion of returns. A higher volatility implies that a fund's return is spread over a larger range of values whilst a lower volatility implies that a funds return is spread over a smaller range of values.

 9.30 10.38 9.98

Tracking error (%) *

A measure of how closely the fund follows its benchmark. A passive fund should have a tracking error close to zero, while an actively managed fund would normally have a higher tracking error.

 4.98 5.18 5.75

* The Fund is expected to have an average yearly tracking error of between 2% and 6% when compared to the Russell 3000 Value Index.

Read more about Stock style Stock style (as at 31/01/2026)

The Equity style box classifies holdings into market capitalization on the vertical axis (company size) and investment style on the horizontal axis (growth or value). This graphical representation is determined by attributing an investment style to each underlying holding, which is then summarised here for the overall fund.
A well-diversified fund doesn't necessarily require holdings across all styles, however, exposure across the Style Box does represent greater diversification.
Legend:
Val: Value
Core: Core
Gwt: Growth

Large: Group that accounts for the top 70% of the capitalization of the Morningstar domestic stock universe.
Medium: Group that accounts for the next 20% of the capitalization of the Morningstar domestic stock universe.
Small: Group that accounts for the bottom 10% of the capitalization of the Morningstar domestic stock universe.

Pie chart

Asset Allocation (as at 31/01/2026)

Bar chart

Asset Allocation (as at 31/01/2026)

Aviva Investors - Emerging Markets Bond Fund Iyh GBP Acc Portfolio stats
Name Maturity Country Fund (%)
1 Williams Companies Inc - USA 4.34
2 PNC Financial Services Group Inc - USA 4.26
3 Royalty Pharma PLC Class A - USA 4.23
4 Chubb Ltd - CHE 3.36
5 Kinder Morgan Inc Class P - USA 2.97
6 Progressive Corp - USA 2.97
7 Unilever PLC ADR - GBR 2.80
8 Wells Fargo & Co - USA 2.73
9 Texas Instruments Inc - USA 2.60
10 Axis Capital Holdings Ltd - USA 2.56

Risks

Currency risk

Changes in currency exchange rates could reduce investment gains or increase investment losses. Exchange rates can change rapidly, significantly and unpredictably.

Equities Risk

Equities can lose value rapidly, can remain at low prices indefinitely, and generally involve higher risks — especially market risk — than bonds or money market instruments. Bankruptcy or other financial restructuring can cause the issuer's equities to lose most or all of their value.

Derivatives risk

Derivatives are instruments that can be complex and highly volatile, have some degree of unpredictability (especially in unusual market conditions), and can create losses significantly greater than the cost of the derivative itself.

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.

Counterparty risk

The Fund could lose money if an entity with which it does business becomes unwilling or is unable to meet its obligations to the Fund.

Stock Connect risk

The Fund may be investing in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect which may entail additional clearing and settlement, regulatory, operational and counterparty risks.

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.

Market risk

Prices of many securities (including bonds, equities and derivatives) change continuously, and can at times fall rapidly and unpredictably.

Operational risk

Human error or process/system failures, internally or at our service providers, could create losses for the Fund.

Management

  • Company name

    Aviva Investors UK Fund Services Limited

  • Legal structure

    Open Ended Investment Company

  • Head office

    80 Fenchurch Street,
    London,
    United Kingdom,
    EC3M 4AE

  • Ucits

    Yes

Fund managers

Fund manager

Thomas Forsha

Manager start date

25 Apr 2025

Biography

Thom is a senior portfolio manager for River Road’s Dividend All-Cap Value portfolio. He previously served as a supervising portfolio manager for the firm’s Focused Absolute Value® portfolio. He is a member of the Executive Committee. Thom joined River Road in 2005 and holds equity in the firm. Prior Experience: - Assistant Vice President, Portfolio Manager, and Equity Analyst, ABN AMRO Asset Management USA Education: - MBA, The University of Chicago Booth School of Business - BS in Finance, The Ohio State University’s Fisher College of Business Certifications/Affiliations: - CFA® charterholder - CFA Institute member - CFA Society Louisville member

Fund manager

Andrew McIntosh

Manager start date

25 Apr 2025

Biography

Andrew is a portfolio manager for River Road’s Dividend All-Cap Value portfolio. He previously served as a senior equity analyst for River Road. Andrew joined River Road in 2011 and holds equity in the firm. Prior Experience: - Structured Finance Analyst on a portfolio of subprime and second lien securities, AEGON USA Investment Management LLC - Commercial Mortgage Production Analyst, AEGON USA Realty Advisors Inc. Education: - BBA in Finance, University of Iowa Certifications/Affiliations: - CFA® charterholder - CFA Institute member - CFA Society Louisville member and past president

Registered countries

  • United Kingdom

Documents

Important information

Unless stated otherwise the source for all performance, portfolio and fund breakdown data is Morningstar. This information does not constitute advice or a recommendation. If you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Care is taken to ensure that the information provided by Morningstar is correct but it neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

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