Aviva Investors Multi-asset Stewardship Fund IV 2 GBP Accumulation

ISIN

GB00BPG9JJ77

Asset class

Multi Asset

NAV

1.08 GBP (as at 06/03/2026)

View all funds

Fund overview

Objective: The Fund aims to: i) grow your investment over the long term (5 years or more) through the responsible allocation of capital, generating a combination of income and capital growth*; and ii) manage volatility within a risk range of 3% higher or lower than the volatility of the Volatility Index**.

At least 70% of the Fund’s investments (the “minimum stewardship allocation”) must contribute to one of three pillars through their products and services or through their operations:

  • Climate - e.g. tackling the causes or impacts of climate change;
  • Earth - e.g. tackling increasing biodiversity loss and resource scarcity;
  • People - e.g. tackling social inequality and unfair working practices.

Further details on the Investment Manager’s proprietary investment framework are set out in the prospectus.

*The Fund’s sustainability and volatility aims may mean achieving a lower financial return than if the Fund did not have a sustainability or volatility objective.

**The Volatility Index is a composite index comprising 75% MSCI® All Country World Index (Net) GBP and 25% Bloomberg® Global Aggregate Bond Index Hedged GBP. Volatility is measured on an annualised basis, over 3-year rolling periods, using the volatility figures as at the end of each week.

Investments: The Fund will invest directly, indirectly via other funds (including funds managed by Aviva Investors companies) or through the use of derivatives, in a variety of global asset classes, including shares of both developed and emerging market companies and bonds issued by companies, governments or large institutional organisations in developed and emerging markets.

The Fund may invest in other funds (including funds managed by Aviva Investors companies) to obtain exposure to, for example, alternative strategies and property. The Fund may also invest in real estate investment trusts, asset and mortgage-backed securities, other derivatives, money market instruments, cash and deposits and indirectly in commodities for example through another collective investment scheme, exchange traded commodity or a derivative.

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

Share class currency
GBP
Return type (Inc / Acc)
Accumulation
Share class
2
Minimum Investment
GBP 100,000
Fund size (as at 06/03/2026)
GBP 65.37m
Share class inception date
28/02/2024
Fund launch date
18/10/2023
Performance benchmark
Mixed Investment 40-85% Shares
Fund volatility
9.68
Benchmark volatility
-
SFDR
-
IA Sector
Mixed Investment 40-85% Shares
Distribution dates
02/03/2026
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.

1.31%

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
GBP
NAV (as at 06/03/2026)
1.08
Daily change
-1.22%
12 Months NAV high (as at 12/01/2026)
1.14
12 Months NAV low (as at 08/04/2025)
0.95
Valuation frequency
Daily
ISIN
GB00BPG9JJ77
SEDOL
BPG9JJ7
MEXID
-
Bloomberg
AVMTAGB LN

Cumulative performance

Source: Morningstar

The fund changed name and investment objective on 7th April 2025. The fund was previously named Aviva Investors Multi-asset Sustainable Stewardship Fund IV.

Fund commentary

Summary review (as at January 2026)

Fund returns were only modest in January as sovereign bonds struggled for momentum and volatility was a feature of equity markets, with the US underperforming.

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.

 0.45

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.

 0.45

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.

 -7.76 - -

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.

 1.07 - -

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.

 -2.27 - -

Correlation (%)

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

 83.16 - -

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.

 0.31 - -

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.

 8.36 - -

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.

 3.47 - -

*

Stock style

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.

Fixed Income Style

Read more about Fixed Income Style Fixed Income Style (as at 31/01/2026)

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 31/01/2026)

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

-

-

-

-

-

-

-

-

Bond statistics

Read more about Interest Rate Risk Interest Rate Risk(as at 31/01/2026)

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.

-

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.

-

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.

-

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 AI Stewardship Fixed Interest UK FoF Acc - GBR 19.91
2 Alphabet Inc Class A - USA 5.11
3 NVIDIA Corp - USA 4.99
4 Microsoft Corp - USA 4.18
5 Visa Inc Class A - USA 2.58
6 Broadcom Inc - USA 2.27
7 The Home Depot Inc - USA 1.96
8 Meta Platforms Inc Class A - USA 1.90
9 Bank of America Corp - USA 1.79
10 JPMorgan Chase & Co - USA 1.77

Risks

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

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.

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.

Emerging Markets Risk: Compared to developed markets, emerging markets can have greater political instability and limited investor rights and freedoms, and their securities can carry higher equity, market, liquidity, credit and currency risk.

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. A bond or money market security could lose value if the issuer's financial health weakens.

Credit Risk: Below investment grade bonds (also known as high yield securities) typically have greater credit risk than investment grade securities.

Default Risk: Issuers of certain bonds or money market instruments could become unable to make payments on their bonds, causing a reduction in income to the Fund and also in the value of bonds held by the Fund. Under extreme market or economic conditions, defaults could be widespread and their effect on Fund performance significant.

Fixed Income Risk: Investments in fixed interest securities are impacted by market and credit risk and are sensitive to changes in interest rates and market expectations of future inflation. Bonds that produce a higher level of income usually have a greater risk of default.

Interest Rate Risk (bonds): When interest rates rise, bond values generally fall. This risk is generally greater for longer-term bonds and for bonds with higher credit quality.

Leverage Markets Risk: A small price decline on a "leveraged" underlying investment will create a correspondingly larger loss for the Fund. A high overall level of leverage and/or unusual market conditions could create significant losses for the Fund.

Hedging Risk: Any measures taken to offset specific risks will generate costs (which reduce performance), could work imperfectly or not at all, and if they do work will reduce opportunities for gain.

Sustainability Risk: The level of sustainability risk to which the Fund is exposed, and therefore the value of its investments, may fluctuate depending on the investment opportunities identified by the Investment Manager.

UK Sustainable Investment Label

This product does not have a UK sustainable investment label. This is because – although the fund has sustainability characteristics - it does not meet the criteria for a label. Sustainable investment labels help investors find products that have a specific sustainability goal. They can only be applied to funds with an explicit sustainability objective and that meet other specific regulatory criteria for a UK sustainable investment label.

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

    No

Fund managers

Fund manager

Dean Cook

Manager start date

18 Oct 2023

Biography

Dean is a fund manager with primary responsibility for Aviva’s Multi-Asset Active Funds sold across Ireland and co-manager of the MAF Sustainable Stewardship fund range. He also contributes to the firm-wide Strategic Investment Group forum. Dean joined Aviva Investors from M&G plc where he worked in the Multi Asset Portfolio Management team, responsible for Prudential UK’s multi asset offering. Prior to this, he spent eight years in investment research at Duncan Lawrie Private Bank. He holds a BA (first class) in English Literature from Essex University. He is also a CFA® Charterholder and has completed the CFA Certificate in ESG Investing.

Fund manager

Harriet Ballard

Manager start date

25 Apr 2025

Biography

Working in the Investment Strategy team, Harriet contributes to the formation of the ‘House View’ and the idea generation process supporting the AIMS fund range. Prior to joining Aviva, Harriet worked for 4 years at a Macro Hedge Fund, COMAC Capital as a Multi-asset strategist reporting into the CIO. Previously Harriet also worked as a research analyst in the Macro Strategy team at Nomura. Harriet has a BSc in Economics from the University of Bath.

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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