How can I work my liquid assets harder?

Liquidity means more than just cash and government bonds. By diversifying across liquidity sub-asset classes investors can build robust portfolios with attractive returns while maximising regulatory capital efficiency.


We invest in liquid securities across markets and geographies. By actively diversifying we deliver robust liquidity.

Capital preservation

We allocate to the highest credit quality securities, minimising the likelihood of drawdown during period of market stress.

Stable returns above cash

By accessing the broadest possible liquidity opportunity set we aim to generate incrementally higher returns than cash.

Optimise your liquidity

We can help investors build optimal liquidity portfolios by diversifying cash allocations across the liquidity sub-asset classes, maximising regulatory capital efficiency and potentially delivering higher yields than cash.

Figure 1: Liquidity optimisation

Chart showing our core liquidity assets

Past performance is not a reliable indicator of future performance.

Source: Aviva Investors, as at 31 March 2024.

Explore fund performance and key data

Find the latest prices and performance data in our fund centre via the links below. If you have any questions, please contact our distribution team.

Aviva Investors ReturnPlus Fund

A differentiated fund providing high-quality credit spread exposure, resulting in a liquid, capital efficient product with no duration risk or ABS exposure.

High credit quality

Invests in high credit quality fixed income securities rated between AAA and A.


Provides diversified access to SSAs and covered bonds, while maintaining high liquidity.

Capital efficient

Capital efficient by isolating credit spread risk only through hedging and investing in capital efficient securities

Aviva Investors Sterling Liquidity Plus Fund

An ultra-short duration bond fund offering capital efficient securitised asset exposure, which may translate into excess returns over cash.

High credit quality

Rated AAAf by Fitch Ratings, driven by the high credit quality of the securities held.


Provides diversified access to covered bonds and securitised assets, while maintaining high liquidity.

Capital efficient

Capital efficient by focussing on low duration exposure to simple, transparent and standardised securitisations

Types of assets we use within our strategies

Sovereign, Supranational and Agency Debt (SSA)

Sovereigns, supranationals and agencies are some of the most liquid fixed income instruments in the world. They typically carry high ratings and may benefit from low capital charges. The SSA opportunity set is substantial and enables diversification across geographies and currencies.

Covered bonds

Covered bonds are debt obligations issued by banks backed by a “cover pool”, usually of mortgages. Because of this extra layer of protection - sometimes referred to as dual recourse - covered bonds are typically rated AAA and benefit from low capital charges.


Asset-backed securities (ABS) are securities issued by standalone vehicles (known as SPVs), backed by pools of underlying assets. Highly rated ABS can offer materially higher yields than comparably rated securities. When issued in the simple, transparent and standardised (STS) format, these bonds attract lower capital charges for insurers.

Aviva Investors ReturnPlus: Strategy-in-brief

PDF 2.0 MB 10 pages

A holistic liquidity solution providing access to potentially stable returns above cash in a liquid, diversified format.

Aviva Investors Sterling Liquidity Plus: Strategy-in-brief

PDF 774.7 KB 9 pages

A first step out of cash through an ultra-short duration bond strategy aiming to deliver enhanced returns while providing liquidity and capital efficiency.

Liquidity insights

Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.

House View

No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.

Read more

The case for ReturnPlus: An approach to optimise strategic cash returns

Todd Cutting and Rakesh Girdharlal explain how our ReturnPlus strategy could be an option for investors looking to optimise their strategic cash allocation.

Read more

Key risks

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

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.

Money market risk

These strategies 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.

Money market risk

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. This investment does 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.

Dedicated distribution team

Meet our dedicated liquidity distribution team.

Contact us

Our distribution team is here to help with any questions you may have.

Explore other liquidity solutions


Our fully developed suite of liquidity products can help investors meet various risk and return objectives as part of operational, core and strategic cash holdings.

Cash management solutions

Cash management solutions that provide an accessible, diversified and yield-generative home for your cash.