Our approach to global bond funds
A core capability with a ten-year track record, our aim is to generate stable and consistent attractive risk-adjusted returns relative to its benchmark. We do this through robust portfolio construction, harnessing firm-wide expertise and embedding (non-binding) ESG considerations throughout our investment process.
*This fund promotes environmental and social characteristics however does not have a sustainable investment objective. To be eligible for investment, sovereign issuers must meet the minimum standard of the Investment Managers’ ESG Sovereign Assessment. All investments that are selected as part of the ESG analysis must follow good governance practices and not be excluded by the ESG Baseline Exclusions Policy. It may however not be possible to perform ESG analysis on cash, derivatives and other third-party collective investment schemes.
Outside of any binding ESG criteria, the Investment Manager retains discretion over investment decision making.
Specialists in fixed income investments
Nearly half of Aviva Investors' assets are in fixed income securities, across government bonds, global investment-grade credit, high yield credit and emerging-market debt.
Experienced investment team
Our portfolio managers have 32 years of combined industry experience and can draw on the expertise of more than 60 investment professionals covering a wide range of asset classes globally as part of our Multi-asset and Macro, Liquidity Driven Investments and Emerging Market Debt teams.
Robust portfolio construction
Top-down and bottom-up five-step investment approach with a strong emphasis on the MFVT model: macro, fundamental, valuation, and technical. The team has global and local expertise to identify investment opportunities and considers contributions to major risk factors such as interest rates, spreads, inflation, and country risk.
Potential benefits of global sovereign bond funds
Our global sovereign bond fund has the potential for attractive, sustainable, risk-adjusted returns from investment-grade economies.
Global opportunity set
Global collaboration without predetermined risk biases
Alpha generation
Investment process aiming to generate uncorrelated risk-adjusted returns
Responsible investment
ESG considerations embedded* beyond the conventional approach
A free lunch: The case for a diversified global sovereign bond allocation
Recent events in the UK are a reminder of the benefit of a globally diversified sovereign bond allocation and avoiding home bias, as Jennie Byun, Kurt Knowlson and Steve Ryder explain.
Bond Voyage: A journey into fixed income
Each month, our freewheeling fixed-income newsletter gathers insights from our high-yield, investment-grade, emerging-market and global sovereign bond teams.
Key risks
For full 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 and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Investment 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.
Credit and interest rate risk
Bond values are affected by changes in interest rates and the bond issuer's creditworthiness. Bonds that offer the potential for a higher income typically have a greater risk of default.
Illiquid securities risk
Some investments could be hard to value or to sell at a desired time, or at a price considered to be fair (especially in large quantities). As a result their prices can be volatile.
Currency risk
Changes in currency exchange rates could reduce investment gains or increase investment losses. Exchange rates can change rapidly, significantly and unpredictably.
Market risk
Prices of many securities (including bonds, equities and derivatives) change continuously, and can at times fall rapidly and unpredictably.
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.
Global Sovereign Bond Fund team
Need more information?
For further information, please contact our investment sales team.
Explore our fixed income range
Fixed income views
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Future proofing fixed income
16 Apr 2025
Advances in data analytics and AI-driven insights are changing the landscape in fixed income investing, and the pace of change in innovation and technological adoption is remarkable.
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Bond Voyage: A journey into fixed income
4 Apr 2025
This month, our fixed income teams discuss the drivers behind emerging and developed market convergence, what the US hybrid boom has in store, the continued popularity of money-market funds, and the ups and downs of high yield.
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Bond Voyage: A journey into fixed income
10 Mar 2025
This month, our fixed income teams discuss the boom in hybrid issuance and weigh up the risks and opportunities of potential tariffs, interest rate moves and fiscal dynamics.
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Bond investing: Five things to know about bonds
7 Mar 2025
In this article, we explain key concepts of bond investing, such as yield and duration, explore the role of bonds in investment portfolios and look at the current state of the bond markets.
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Bond Voyage: A journey into fixed income
10 Feb 2025
As we negotiate an uncertain landscape, our fixed income teams reflect on potential sources of resilience.
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Can credit hold firm in 2025? The outlook for investment grade credit and climate transition
24 Jan 2025
Credit spreads remained largely immune to turbulence in 2024 despite concerns for a reacceleration in inflation, an unprecedented scale of global elections and volatility on economic data and changing rate cut expectations. Where to in 2025?
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Liquidity outlook for 2025: Credit, yield, regulation, positioning – what to expect for the year ahead
22 Jan 2025
The conditions for investing in liquidity look broadly favourable for 2025, but that’s not to say it will be plain sailing.
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Bond Voyage: A journey into fixed income
13 Jan 2025
With a new US president poised to take office, central banks diverging and ongoing political uncertainty, how are the key fixed income asset classes positioned for the year ahead?
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Sovereigns’ state: Analysing the new challenges facing global sovereign bonds
13 Dec 2024
The expected policies of a Republican administration in the US bring added uncertainty to the global growth cycle. Steve Ryder and Daniel Bright examine the probable impacts of a world with more tariffs and political strains.
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40 years of lending lessons: How four decades in real estate debt has shaped Aviva Investors’ approach
12 Dec 2024
From navigating market crashes to embracing ESG and technology, Adrian Poole and Gregor Bamert reveal how 40 years of real estate debt investing have moulded Aviva Investors’ strategy – and what it takes to stay ahead in a rapidly changing market.
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Buy-and-maintain credit: Taking the road to net zero
10 Dec 2024
Long-term trends like climate change are particularly important for buy-and-maintain investors. How can they integrate climate objectives, such as net zero by 2050, into their portfolios?
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Bond Voyage: A journey into fixed income
9 Dec 2024
This month, we explore how US Treasuries are taking a breath, why 2025 could be the year of carry for high yield, what increasing dispersion means for emerging markets, and how surging M&A activity could affect investment-grade bonds.
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The case for ReturnPlus: A capital efficient enhanced liquidity strategy
29 Nov 2024
The ReturnPlus strategy invests in a broad range of liquidity sub-asset classes, while consuming limited regulatory capital. Our ReturnPlus team explains why investors should consider an allocation to the strategy.
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From tactical to strategic: Investing in emerging-market hard currency debt in your fixed income portfolio
18 Nov 2024
Investors should consider EMD hard currency for a long-term strategic allocation within fixed income portfolios to boost portfolio returns, rather than just a short-term tactical play.
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Bond Voyage: A journey into fixed income
4 Nov 2024
This month, our fixed-income investment teams discuss US elections, IMF meetings, US versus European high yield, managing declining rates for cash, and what the future might hold in store for gilts.
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Resisting the lure of beta: A differentiated approach to portfolio construction in investment grade
18 Oct 2024
Global head of investment-grade credit James Vokins explains how a differentiated approach to portfolio construction can help credit investors avoid the pitfalls of being reliant on beta.
Note for UK Investors: This Fund is domiciled in Luxembourg and is authorised by the Commission de Surveillance du Secteur Financier (CSSF). The Fund is recognised in the UK under the Overseas Funds Regime but is not a UK-authorised Fund and therefore is not subject to UK sustainable investment labelling disclosure requirements. UK investors should be aware that they can make a complaint about the fund, its management company, or its depositary. However, complaints may not be eligible for resolution by the UK’s Financial Ombudsman Service and any claims for losses related to the management company or depositary will not be covered by the Financial Services Compensation Scheme (FSCS). UK investors should consider seeking their own financial advice before making any decisions to invest and refer to the scheme prospectus for further information.