Aviva Investors Multi-Strategy Target Return Fund 2 GBP Acc

ISIN

GB00BMJ6DT26

Asset class

Multi Strategy

NAV

148.04 GBX (as at 01/04/2026)

View all funds

Fund overview

Objective: To deliver a positive return over rolling three-year periods regardless of the prevailing stock market environment. The Fund aims to generate a positive return, on average 3% per annum above the Bank of England Base Rate before the deduction of charges, over rolling three-year periods. In seeking to target this level of return the Fund also aims to manage volatility to a target of less than half the volatility of global equities, measured over the same rolling three-year periods. These aims, however, are not guaranteed and it may not always be possible to achieve positive returns or to achieve the target level of volatility over rolling three-year periods, or over any period of investment. Consequently, investors' capital is at risk.

Investments: The Fund invests across a broad range of global asset classes (including emerging markets) that may include shares, bonds, cash, commodities, indirect property, and currencies. Other funds may also be used to gain exposure to these asset classes. The Fund will make significant use of derivative instruments for investment purposes.

 

Strategy:The Investment Manager actively combines strategies to seek advantage from market inefficiencies taking both long and short positions on companies and indices.

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 01/04/2026)
GBP 2.75b
Share class inception date
01/07/2014
Fund launch date
01/07/2014
Performance benchmark
Blended Bank of England Base Rate GBP
Fund volatility
2.59
Benchmark volatility
9.35
SFDR
-
IA Sector
Targeted Absolute Return
*The Fund is expected to operate with a volatility no greater than 50% of that of the daily volatility MSCI® All Country World Index (local currency), annualised over a rolling 3 year period.
Distribution dates
16/01/2026
Income distribution frequency
Annually
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.

3.58%

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 01/04/2026)
148.04
Daily change
0.16%
12 Months NAV high (as at 02/03/2026)
151.27
12 Months NAV low (as at 03/04/2025)
141.12
Valuation frequency
Daily
ISIN
GB00BMJ6DT26
SEDOL
BMJ6DT2
MEXID
NUAAHA
Bloomberg
AIMSTR2LN

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 Bank of England Base Rate + 3%.

On 23 December 2025, the fund performance target was changed to the Bank of England base rate +3%. Historic performance prior to this date reflects the previous target of the Bank of England base rate +5%.

Fund commentary

Summary review (as at February 2026)

Positive fund returns in February were led by Opportunistic return strategies, notably via our duration positions. Long Japanese equity exposure within Market returns was also helpful. Risk Reducing trades had a more neutral impact.

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.

 0.85

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.

 0.85

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.

 -

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.

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).

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

Ian Pizer

Manager start date

6 May 2021

Biography

Ian is head of Multi-strategy funds, responsible for leading our Multi-strategy investment team and co-managing the AIMS Target Return fund. Ian has a longstanding association with the AIMS franchise and played a key role in its growth after joining Aviva Investors in 2014, particularly as portfolio manager on AIMS Target Return and in developing the House View as head of investment strategy.

Fund manager

Patrick Bartholet

Manager start date

31 Jan 2026

Biography

Patrick is a Portfolio Manager within our Multi-Strategy team, focusing on systematic strategies and derivative payoffs across asset classes. He is a permanent member of the Strategic Investment Group (SIG), where investment ideas proposed for inclusion in the AIMS portfolios are rigorously debated. Prior to joining Aviva Investors, Patrick led the European Index Volatility Trading Desk at Societe Generale. Before that, he held similar roles at RBS/ABN AMRO and Salomon Inc., working in both Zurich and London.

Fund manager

Ralph Maison

Manager start date

31 Jan 2026

Biography

Ralph is a Portfolio Manager within our Multi-Strategy team, focusing on systematic strategies and derivative payoffs across asset classes. He is a permanent member of the Strategic Investment Group (SIG), where investment ideas proposed for inclusion in the AIMS portfolios are rigorously debated. Ralph previously worked at Societe Generale as an Equity Index Options Trader, responsible for trading European Index Options and Global Variance. Before that, he held roles at Nomura and RBS within Equity Derivatives Trading. Ralph graduated from the University of Bristol with First Class Honours in MEng Civil Engineering.

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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