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 £59 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 30 June 2020. The figure refers to Liquidity funds in the UK and France.

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
Asset-backed securities: A unique opportunity for liquidity products
Unfairly cast as a pariah after the financial crisis, asset-backed securities have shown their true mettle during the COVID-19 pandemic. Investors in liquidity products should take note.

Benefits
Our approach to capital preservation, yield and client service are what set us apart.
Enhancing cash yields in times of crisis
Money market funds can play an important role in helping investors manage capital and liquidity during stressed market conditions, but their potential to provide yield should not be overlooked.

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 Euro Liquidity Fund
Rated:* Aaa-mf (Moody’s)
Aim: To maximise current income consistent with the preservation of principal and liquidity
Investment horizon: 0-3 months
Performance objective: 7-day Euro LIBID plus 0.10% p.a. gross
Min. investment restrictions: Min. rating A2/P1 - Moody's
Max. weighted average maturity: 60 days
Settlement: Same day
Dealing cut-off: 12 noon (Irish time)
Fund type: Short-Term Variable Net Asset Value (VNAV) Money Market Fund
*Credit ratings referred to in this document have been financed by the Money Market Fund.
Aviva Investors US Dollar Liquidity Fund
Rated:* AAAmmf (Fitch Ratings) and Aaa-mf (Moody’s)
Aim: To maximise current income consistent with the preservation of principal and liquidity
Investment horizon: 0-3 months
Min. investment restrictions: Min. rating F1 –Fitch. A2/P1 – Moody’s
Max. weighted average maturity: 60 days
Settlement: Same day
Dealing cut-off: 1pm (Irish time)
Fund type: 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.
Our interactive fund centre is live
Explore our Liquidity funds, analyse performance data and access key investor information using our interactive fund centre.

Latest thinking

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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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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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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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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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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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.
Read more about the funds
Fund documents
- PDF 89.3 KB 1 page
Aviva Investors Liquidity Funds - Statement of excess reportable income - 31 March 2020
- PDF 734.1 KB 149 pages
Prospectus- 07 January 2021
- PDF 149.0 KB 6 pages
Aviva Investors Liquidity Funds - Remuneration Policy
- PDF 248.2 KB 107 pages
Aviva Investors Liquidity Funds – Memorandum and Articles of Association
- PDF 2.0 MB 88 pages
Aviva Investors liquidity Funds - Annual Report and Financial Statements - 31 March 2020
- PDF 438.7 KB 48 pages
Aviva Investors Liquidity Funds – Semi-Annual Report and Unaudited Financial Statements – 30 September 2019
- PDF 1.0 MB 14 pages
Aviva Investors Liquidity Application Form
Supporting literature
- PDF 168.8 KB 5 pages
What happens if GBP goes Negative?
- PDF 826.1 KB 4 pages
Aviva Investors Liquidity Solutions Brochure
- PDF 221.6 KB 1 page
Aviva Investors Liquidity Funds - Sterling & Euro Fund Holidays
- PDF 214.2 KB 1 page
Aviva investors Liquidity Funds- US Dollar Fund Holidays
- PDF 71.9 KB 2 pages
Aviva Investors Liquidity Funds Country Registration
- PDF 75.5 KB 2 pages
Aviva investors Liquidity Fund- Fund Range
Fixed income views

From crisis comes opportunity: What’s normal now?
2 Mar 2021
Big challenges bring us the opportunity to think differently. Our investment teams reveal what they have learnt from COVID-19, and how they are preparing to face whatever ‘normal’ emerges in a post-pandemic world.
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The COVID Nudge
28 Jan 2021
In these data visualisations, we look at whether COVID-19 will achieve something that millions spent on public health campaigning has failed to do.
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The next frontier
25 Jan 2021
Despite a torrid few months, frontier bond markets still have an important role to play in investors' portfolios.
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Prospect of IMF-led reforms attracts debt investors to Africa
25 Jan 2021
Countries in receipt of IMF support often see rapid economic improvements. But local knowledge is crucial for bond investors chasing the ‘IMF trade’, says Carmen Altenkirch.
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What a carve up! The future of the internet
22 Jan 2021
Commercial and geopolitical forces are threatening to fracture the internet into competing regimes, making it harder for companies to operate across borders and potentially limiting their growth. We explore the implications for investors.
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What a carve up! The future of the internet
22 Jan 2021
Commercial and geopolitical forces are threatening to fracture the internet into competing regimes, making it harder for companies to operate across borders and potentially limiting their growth. We explore the implications for investors.
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Investing for impact in private debt to combat climate change
21 Jan 2021
Impact investment strategies will have an important role to play if the green credentials of the world’s stock of real estate is to be transformed, argue Gregor Bamert and Stanley Kwong.
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The path for oil and gas after COVID-19
20 Jan 2021
Post-COVID recovery initiatives from governments are increasingly taking a green path, but the response of oil and gas companies so far runs from denial to complete reinvention. Should they continue pumping oil for as long as they can to avoid destroying capital for investors, or do they need to accelerate efforts to future proof their businesses now?
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Our annual letter to company chairpersons
15 Jan 2021
As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.
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Issuance, support from equities and volatility: The outlook for convertible bonds in 2021
18 Dec 2020
Shawn Mato, convertible bond fund manager, picks three themes that could have a big say in how the asset class performs in 2021.
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Zombie revival, improving fundamentals and monetary policy: The outlook for high yield in 2021
17 Dec 2020
Kevin Mathews, Brent Finck and Sunita Kara, high yield portfolio managers at Aviva Investors, pick out three themes that will shape the asset class in 2021.
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Stimulus, M&A and US politics: The outlook for investment grade credit in 2021
17 Dec 2020
Mike Cho and Jonathan Manning, investment-grade portfolio managers at Aviva Investors, look at the themes that will shape the asset class in 2021.
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Chemical compounds: The good, the bad and the ugly
9 Dec 2020
After decades of secrecy, light is increasingly being shone on the potentially hazardous compounds produced by chemical companies. In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and ESG teams discuss the prevalence of chemicals in modern life, and how to balance usefulness and safety.
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Sustainability in credit: Why ESG scores don’t tell the whole story
5 Nov 2020
ESG ratings are a helpful baseline to assess companies, but views on their ESG risks and opportunities can be honed – and sometimes corrected – through deeper research, trend analysis and meetings with company executives.
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US Election 2020: Expect the unexpected
29 Oct 2020
As the US presidential election looms, we explore potential scenarios – from a Democratic “blue sweep” to a Trump re-election to a divided government – and assess the implications for investors.
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Global high yield: Stimulus fuels the march of the zombies
27 Oct 2020
Zombie companies are the talk of the town. Will they limp on forever, storing up potential trouble for investors’ portfolios, or can they revive and thrive after the COVID crisis?
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This investment does not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share.