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

The benefits of segregated mandates when creating liquidity solutions

No two companies are the same when it comes to their cashflow and asset and liability matching needs. Those wanting a more customisable experience and full control over how they manage liquidity may find significant benefits from a segregated mandate.

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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.

Where can investors put cash to work when rates go negative?

Just when investors thought they couldn’t sink any lower, the economic shock caused by COVID-19 has put further downward pressure on interest rates in developed markets.

Read more

Key risks

The value of an investment and any income from it can go down as well as up.   Investors may not get back the original amount invested.

These funds invest in money market instruments such as short term bank debt, the market prices/value of which can rise as well as fall on a daily basis. Their values are affected by changes in interest rates, inflation and any decline in creditworthiness of the issuer.

These are not guaranteed investments, 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. These investments do not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share. 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

Global Head of 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

Emerging market debt: A path less volatile

17 Sep 2020

After one of the most volatile periods on record, hard currency emerging market debt is once again drawing investor interest, thanks to attractive yields and its diversification potential. But while markets recovered quickly from the volatility, investors should remain cautious for the challenges ahead.

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The new rules of client engagement

18 Aug 2020

As the coronavirus pandemic reshapes our working lives, asset managers must find new ways to interact with their clients, says Apiramy Jeyarajah.

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Electric avenue: EVs and the transformation of autos

13 Aug 2020

In the latest instalment of our editorial series, Link, experts from our infrastructure, credit research and equity teams discuss why efforts to ‘build back better’ as economies recover from COVID-19 could further accelerate investment in electric vehicles and associated infrastructure.

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Education, entrepreneurship and biological age: An interview with Andrew Scott

6 Aug 2020

In part two of our interview with Professor Andrew Scott from London Business School, we look at how policy will shift to take account of people living for longer and how service providers will respond.

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Longevity, policy and technology: An interview with Andrew Scott

6 Aug 2020

Living longer brings enormous opportunities to reshape how we spend our time. But in the first of a two-part interview, Andrew Scott from London Business School explains how advances in longevity and technology have not been matched by innovation in social structures or our approach to financial planning.

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Reality bites: Retailing in a health crisis

5 Aug 2020

In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and real asset teams discuss the consequences of COVID-19 on the retail sector and their implications for investors.

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Where can investors put cash to work when rates go negative?

30 Jul 2020

Just when investors thought they couldn’t sink any lower, the economic shock caused by COVID-19 has put further downward pressure on interest rates in developed markets. Caroline Hedges, head of global liquidity portfolio management at Aviva Investors, looks at the impact on money market funds.

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Resilience in credit: All calm for now, but big tests lie in store

17 Jul 2020

For credit investors, resilience is about taking appropriate levels of risk, understanding market dynamics, and identifying companies best prepared for the future. All these qualities could be tested given the wide range of possible outcomes as the world begins to recover from COVID-19.

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