Aviva Investors Strategic Bond Fund 1 GBP Inc

ISIN

GB00B3CGG643

Asset class

Fixed Income

NAV

66.57 GBX (as at 27/03/2026)

View all funds

Fund overview

Objective: To grow your investment through a combination of income and capital returns, whilst aiming to provide a net return greater than that of the benchmark over the long term (5 years or more) (after charges and taxes). The benchmark (the ""Index"") is a composite index, as detailed in our prospectus.

Investments: At least 80% of the Fund is invested in bonds, issued in Sterling or hedged to Sterling, and no more than 50% of the Fund may be invested in sub-investment grade bonds (below BBB-/Baa3). The Fund may also invest in shares of companies, other funds, cash and deposits. The Fund may use derivatives for efficient portfolio management or reducing risk.

 

Strategy: The Fund is actively managed. The Investment Manager uses macroeconomic, market and credit analysis to assemble a high-conviction portfolio of securities that appear to offer strong risk-adjusted returns.

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

Share class currency
GBP
Return type (Inc / Acc)
Income
Share class
1
Minimum Investment
GBP 1,000
Fund size (as at 27/03/2026)
GBP 200.59m
Share class inception date
22/09/2008
Fund launch date
22/09/2008
Performance benchmark
Composite Index
Fund volatility
1.79
Benchmark volatility
-
SFDR
-
IA Sector
£ Strategic Bond
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.

3.83%

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)*
-
Benchmark Income (gross of charges and taxes)*
-
Trading currency
GBX
NAV (as at 27/03/2026)
66.57
Daily change
-0.39%
12 Months NAV high (as at 27/02/2026)
68.48
12 Months NAV low (as at 16/04/2025)
65.73
Valuation frequency
Daily
ISIN
GB00B3CGG643
SEDOL
B3CGG64
MEXID
NUSB1
Bloomberg
NUSBSC1 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 one third Bloomberg Treasury G7 Index (GBP hedged), one third Global Aggregate Corporate Index (GBP hedged), and one third Bloomberg Global High Yield Index ex CMBS ex EMG 2% issuer capped (GBP hedged).

The fund's benchmark was introduced on the 7th August 2019 and is tracked since inception.

Fund commentary

Summary review (as at February 2026)

It was a positive month for fixed income markets, with both sovereign bonds and corporate bonds making gains. Credit spreads widened somewhat, however. Fund performance was supported predominantly by industry allocation.

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”.

 0.00

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.

 0.88

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.

 0.88

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 28/02/2026)

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.

 0.85 0.20 0.09

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.

 0.96 0.81 0.91

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.

 1.27 -0.06 0.18

Correlation (%)

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

 86.81 90.45 93.55

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.

 1.21 0.43 -0.26

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.

 1.74 3.41 5.18

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.

 0.65 1.30 1.38

*

Read more about Fixed Income Style Fixed Income Style (as at 28/02/2026)

The Fixed Income Style Box shows the fund's overall interest rate sensitivity (horizontal axis) and credit quality (vertical axis). It is created by classifying the fund's fixed income holdings according to interest rate sensitivity (measured by average duration) and credit quality.
In general, higher percentages in the upper left-hand quadrants of the Style Box represent a conservative fixed-income exposure for the fund, with bonds of investment-grade quality and short to intermediate bond maturity. Conversely, larger percentages in the lower right-hand portions of the Style box represent a riskier fixed-income allocation for the fund, although one that may produce higher yields.
Legend:
Ltd: Limited. Duration <= 4.5 years
Mod: Moderate. Duration >4.5 and <= 7 years
Ext: Extensive. Duration >7.0 years.

Low: Low quality (average credit < BBB)
Mid: Medium quality (average credit rating < AA and >= BBB)
High: High quality (average credit rating AAA or AA).

Credit Quality

Read more about Credit Quality Breakdown Credit Quality Breakdown (as at 28/02/2026)

Globally, credit rating from Fixed Income Survey provided by fund company: Government, AAA , AA, A , BBB, BB, B, Below B and Not Rated. AAA bonds carry the highest credit rating. For the purpose of Morningstar's calculations, U.S. government bonds are considered AAA. For municipal bonds, anything at or below BBB is considered a high-yield or junk bond. Nonrated municipal bonds generally are classified as BBB. Other nonrated bonds generally are considered B. Morningstar base on the surveyed credit quality breakdown to calculate the average credit quality, please refer to the methodology paper for more detail.

% of Bond % of Bond

AAA

4.3

BB

18.39

AA

27.78

B

6.4

A

5.8

Below B

1.82

BBB

35.15

Not Rated

0.36

Bond statistics

Read more about Interest Rate Risk Interest Rate Risk(as at 28/02/2026)

The interest rate risk refers to the chance that investments in fixed income funds will suffer as the result of unexpected interest rate changes.

Portfolio

Avg Eff Maturity Read more about Avg Eff Maturity

Average effective maturity is a weighted average of all the maturities of the bonds in a portfolio, computed by weighting each bond's effective maturity by the market value of the security. Average effective maturity takes into consideration all mortgage prepayments, puts, and adjustable coupons. Longer-maturity funds are generally considered more interest-rate sensitive than their shorter counterparts. We list Average Effective Maturity for Taxable Fixed-Income and Hybrid funds and Average Nominal Maturity for Municipal Bond Funds. Since this is collected by survey, it is important to bear in mind that different fund companies may use different interest-rate assumptions in determining call likelihood and timing. Generally speaking, the longer the maturity, the greater the interest rate risk. When duration is unavailable, this is used in the calculation of the fixed-income style box.

11.56

Avg Eff Duration Read more about Avg Eff Duration

A measure of a fund's interest-rate sensitivity - the longer a fund's duration, the more sensitive the fund is to shifts in interest rates. Duration is determined by a formula that includes coupon rates and bond maturities. Small coupons tend to increase duration, while shorter maturities and higher coupons shorten duration. The relationship between funds with different durations is straightforward: A fund with a duration of 10 years is twice as volatile as a fund with a five-year duration.

4.92235

Avg Credit Quality Read more about Avg Credit Quality

Globally, credit rating from Fixed Income Survey provided by fund company: Government, AAA , AA, A , BBB, BB, B, Below B and Not Rated. AAA bonds carry the highest credit rating. For the purpose of Morningstar's calculations, U.S. government bonds are considered AAA. For municipal bonds, anything at or below BBB is considered a high-yield or junk bond. Nonrated municipal bonds generally are classified as BBB. Other nonrated bonds generally are considered B. Morningstar base on the surveyed credit quality breakdown to calculate the average credit quality, please refer to the methodology paper for more detail.

BB

Pie chart

Asset Allocation (as at 28/02/2026)

Bar chart

Asset Allocation (as at 28/02/2026)

Aviva Investors - Emerging Markets Bond Fund Iyh GBP Acc Portfolio stats
Name Maturity Country Fund (%)
1 United States Treasury Notes 4.25% - USA 8.00
2 United States Treasury Notes 4.375% - USA 6.88
3 United States Treasury Notes 3.875% - USA 4.93
4 United States Treasury Bonds 3% - USA 3.99
5 Long Gilt Future June 26 Fri Jun 26 00:00:00 UTC 2026 GBR 3.72
6 Greene King Finance Plc - GBR 2.95
7 Us 10Yr Ultra 06/18/2026 - 2.57
8 United States Treasury Bonds 2% - USA 2.05
9 Mitchells & Butlers Finance Plc - GBR 1.95
10 Citigroup Inc. 4.5% - USA 1.77

Risks

Investment Risk & Currency Risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency exchange rates. Investors may not get back the original amount invested.

Convertible Securities Risk
Convertible bonds can earn less income than comparable debt securities and less growth than comparable equity securities, and carry a high level of risk.

Credit 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
The Fund uses derivatives, these can be complex and highly volatile. Derivatives may not perform as expected meaning the Fund may suffer significant losses.

Illiquid Securities Risk
Certain assets held in the Fund could be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.

Full information on risks applicable to the Fund are in the Prospectus and the Key Investor Information Document (KIID).

Ongoing Charges

This Share Class integrates Economies of Scale discounts to the Fund Management Fee (“FMF”) which is a component of the Ongoing Charge Figure. Consequently, when a Fund reaches a certain size (a pre-defined “trigger point”) a discount will automatically apply to the FMF. However, at all other times the FMF will be charged at the rate as set out in the Fund's prospectus. For further details on the Economies of Scale discounts and the trigger points at which they apply, please refer to the Fund's prospectus.

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

Chris Higham

Manager start date

22 Sep 2008

Biography

Chris oversees a range of bond funds which invest across fixed-income assets, including investment-grade corporates, high-yield corporates, government, and emerging markets bonds. Chris works as lead manager on our Global Investment Grade, Sterling Corporate Bond, Higher income Plus, Managed High Income and the Strategic Bond Fund. He has also managed the Strategic Bond Fund from its launch in 2008. Prior to joining Aviva Investors, Chris worked as a portfolio manager for Old Mutual Asset Managers. He joined the industry as a credit analyst. Chris graduated from Durham University with a BA (Hons) in economics. He is an associate member of the UK Society of Investment Professionals and is a CFA® charterholder.

Fund manager

James Vokins

Manager start date

29 Jun 2016

Biography

James leads Aviva Investors’ Investment Grade Credit team and Core Income Group. The IG team includes the UK, North American, Global strategies with portfolio managers based in London and Toronto. The Core income Group also includes the Global Rates team. Prior to becoming Head of the Investment Grade team in 2021, James was head of the UK Investment Grade Credit team. He is responsible for the portfolio management of the Aviva Investors Global Investment Grade Bond fund, the Sterling Corporate Bond Fund and the Strategic Bond fund. Prior to joining Aviva Investors, James worked for JP Morgan’s Debt Capital Markets team. He holds a degree in Business Administration from the University of Bath and the Investment Management Certificate. He is also a CFA® charterholder.

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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