Our approach

We offer a range of pooled funds and bespoke solutions that provides investors with an off-balance sheet alternative to traditional short-term bank investments. Our solutions offer a way of diversifying across a wide range of high-quality instruments and issuers, while at the same time enhancing yield opportunities.

Although security of capital is always our primary concern, our active, diversified approach aims to maximise yield and deliver investors their required levels of liquidity.

Currently we manage over £56 billion for our liquidity clients (including our parent - Aviva plc - which gives us strong pedigree and experience in managing cash and fixed income investments).*

*Source: Aviva Investors, as at 31 March 2020. The figure refers to Liquidity funds in the UK and France.

Insurance Award

As a member since 2018, our Sterling Liquidity Fund, Sterling Government Liquidity Fund and EUR Liquidity Fund are all IMMFA Funds. Get familiar with the advantages here: www.immfa.org

New: US Dollar Liquidity Fund

An active, diversified approach to USD money market instruments, the newly launched  Aviva Investors US Dollar Liquidity Fund will sit alongside the existing range of sterling-and-euro liquidity strategies.

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Benefits

Our approach to capital preservation, yield and client service are what set us apart.

Capital preservation

Security of capital is of utmost importance. We therefore maintain a liquid and stable vehicle to delivery our internal and external clients' desired outcomes.

Yield

While stability is our primary goal, we aim to deliver competitive yields without diluting security of capital.

Client experience

Delivering exceptional client service is a major differentiating factor between money managers. We aim to deliver high levels of client servicing and manage the whole client experience with focus and attention to detail.

Key risks

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

This is not a guaranteed investment, an investment in a Money Market Fund is different from an investment in deposits and can fluctuate in price meaning you may not get back the original amount you invested. The risk of loss of the principal is to be borne by the investor.

Liquidity strategies

  Aviva Investors Sterling Government Liquidity Fund Aviva Investors Sterling Liquidity Fund
 Aviva Investors Sterling Liquidity Plus Fund

Aviva Investors

Euro Liquidity Fund

Aviva Investors

US Dollar Liquidity Fund
Rated* Aaa-mf (Moody's) and AAAm (S&P)
 Aaa-mf (Moody’s) and AAAm (S&P)
 AAAf (Fitch Ratings)  Aaa-mf (Moody’s)
 AAAmmf (Fitch Ratings) and Aaa-mf (Moody’s)
Aim To provide liquidity and security of government exposure
 To maximise current income consistent with the preservation of principal and liquidity
 To provide an investment return with low level of capital volatility whilst maintaining liquidity
 To maximise current income consistent with the preservation of principal and liquidity
 To maximise current income consistent with the preservation of principal and liquidity
Investment horizon 0-3 months
 0-3 months
 3-6 months
 0-3 months
 0-3 months
Min. investment restrictions Min. rating A2/P1 - Moody's repo cp. A/A-1 - S&P
 Min. rating A2/P1 - Moody's. A/A-1 - S&P
 Min. rating F2- Fitch
 Min. rating A2/P1 - Moody's
 Min. rating F1 –Fitch. A2/P1 – Moody’s
Max. weighted average maturity 60 days
 60 days
 365 days
 60 days
 60 days
Settlement Same day
 Same day
 T+2
 Same day
 Same day
Dealing cut-off 1pm (Irish time)
 1pm (Irish time)
 Sub- 1pm on dealing day (Irish time)
 12 noon (Irish time)
 1pm (Irish time)
Fund type Short-Term Low-Volatility Net Asset Value (LVNAV) Money Market Fund Short-Term Low-Volatility Net Asset Value (LVNAV) Money Market Fund Standard Variable Net Asset Value (VNAV) Ultra Short Duration Bond Fund Short-Term Variable Net Asset Value (VNAV) Money Market Fund Short-Term Low-Volatility Net Asset Value (LVNAV) Money Market Fund
* Credit ratings referred to in this document have been financed by the Money Market Fund.  

Latest thinking

Covid-19

Flattening the credit curve: A closer look at short-dated assets

28 May 2020

There are few areas of life that COVID-19 hasn’t impacted and credit markets are no exception. Mhammed Belfaida explains how the flattening of credit curves has revealed a surprising anomaly.

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Liquidity

ESG: long-term thinking can add value to short-term investments

1 May 2020

While ‘ESG’ was becoming a buzzword in long-term holdings, environmental, social and governance (ESG) factors remained largely irrelevant for short-term investments such as liquidity. Yet as the concept has gained familiarity, investors have realised ESG factors can impact performance in the short as well as the long run.

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Liquidity

Reasons to be cheerful: matching enhanced returns with liquidity and security

24 Mar 2020

In today’s ‘lower for longer’ interest rate environment, building a cash strategy that can offer investors an enhanced return, capital preservation and liquidity seems like an extraordinary challenge. Caroline Hedges, Global Head of Liquidity Portfolio Management, and Tony Callcott, Head of Pan-European Liquidity Client Solutions, have good news.

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Liquidity

Collateral damage? Could a property crash derail the RMBS market?

9 Oct 2018

In the first of a series of articles, we assess how vulnerable securities backed by residential mortgages secured on owner-occupied homes are to a downturn in the UK housing market.

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Liquidity

Aviva Investors EU money market fund reform

14 Jun 2017

Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds.

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Explore all funds

Access key fund documentation and performance reports.

View Fund Centre

Liquidity team

Tony Callcott

Head of Pan-European Liquidity Client Solutions

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Beth Jones

Client Solutions Manager, Liquidity

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Scott Playle

Client Solutions Manager, Liquidity

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Julian Webb

Client Solutions Manager, Liquidity

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Sandrine Godere

Client Solutions Manager, Liquidity

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Caroline Hedges

Global Head of Liquidity Portfolio Management

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Richard Hallett

Head of UK Liquidity Portfolio Management

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Demi Angelaki

Senior Portfolio Manager

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Sophie Labigne

Liquidity Fund Manager

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Mhammed Belfaida

Portfolio Manager

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Need more information?

For further information, please contact our investment sales team.

Contact us

Read more about the funds

Fixed income views

Health first: Finding resilience in pharmaceuticals

2 Jul 2020

COVID-19 has led to a new appreciation of the importance of healthcare in ensuring all members of society thrive. So where should investors be looking to find resilience in an industry facing enormous change?

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What do rising US-China tensions mean for global markets?

24 Jun 2020

In the latest instalment of our editorial series, Link, Aviva Investors experts discuss the prospects for financial markets and the world economy in the face of escalating hostilities between the US and China.

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Defined Benefit pensions de-risking: A covenant and investment view

23 Jun 2020

In the midst of the COVID-19 shock, Felix Mantz from Lincoln Pensions and Joachim Sudre from Aviva Investors explore how defined benefit pension schemes should plan their journey towards an end game and adopt a more holistic approach to risk.

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COVID-19: Will credit markets remain open for business?

1 May 2020

While concerns around credit market liquidity have been rising since the global financial crisis, the COVID-19 sell-off has highlighted how fragile liquidity can be during periods of real stress. Colin Purdie discusses the short- and long-term implications for investment grade and high yield credit globally.

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The impact of COVID-19 on global high yield

20 Apr 2020

As an increasing number of companies battle the economic consequences of COVID-19, their ability to service bond payments is coming under intense scrutiny. In this Q&A, Sunita Kara considers whether current high-yield valuations adequately compensate investors for default risk and looks at the broader implications of the pandemic.

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Re-enter the dragon: What China’s recovery from COVID-19 means for emerging markets

7 Apr 2020

As China gradually emerges from lockdown, emerging market debt and equity investors are trying to gauge the impact of the coronavirus pandemic on its economy – and the knock-on effects for other emerging markets.

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COVID-19 and a brief history of emerging market debt drawdowns

2 Apr 2020

The scale and speed of COVID-19’s impact on global financial markets has caused emerging market debt returns to decline at a pace not seen since the global financial crisis. However, history suggests the recovery of the asset class may also turn out to be quick.

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The impact of COVID-19 on private debt

30 Mar 2020

As COVID-19 sweeps across the world, a contraction in global growth is causing an adverse short-term reaction to the economy and financial markets. While the extent of contagion from public markets to private debt remains unclear, transactions with strong downside protection should remain more resilient through the crisis, explains Nikhil Chandra.

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Are investors too complacent about the coronavirus?

21 Feb 2020

In the latest of our editorial series, Link, AIQ brings members of Aviva Investors’ investment strategy, equity and debt teams together to discuss the prospects for financial markets and the world economy in the face of the coronavirus epidemic.

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Broadening global investment-grade horizons

20 Feb 2020

UK investors considering whether to allocate to global investment-grade credit may discover the broader diversification benefits can significantly improve a portfolio’s overall risk dynamics.

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Multi-asset allocation views: The pros and cons of higher-yielding fixed income

16 Jan 2020

Sunil Krishnan asks whether higher-yielding fixed income assets remain good diversifiers for multi-asset portfolios in the current environment.

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Reform: A route to resilience in emerging markets?

13 Jan 2020

Following a series of IMF meetings in Washington, D.C., Carmen Altenkirch and Dariusz Kedziora discuss their views on how reform prospects may shape emerging market debt.

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Climate risk for insurers

12 Dec 2019

Climate risk has become a critical business issue, but a recent consultation by the European Insurance and Occupational Pensions Authority highlights confusion on how to assess it.

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Global high yield in a sub-zero world

24 Sep 2019

In the strongest signal yet that central bank policies are upending the investment playbook, sub-zero conditions are extending to the high yield market for the first time. Sunita Kara, looks at the implications for investors.

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Three steps to improve the green bond market

11 Sep 2019

Green bonds can be a powerful tool for attracting investment in environmental projects, but reforms are needed to promote further growth of the market, argues Colin Purdie.

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Lagarde as ECB chief – independent but integrated?

22 Aug 2019

Christine Lagarde has been nominated to head the European Central Bank at a difficult time for monetary policy given growing fears of a recession in the euro zone. Despite much debate on her credentials, Stewart Robertson argues she is the right candidate for the job.

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This investment does not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share.