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
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.
Benefits
Our approach to capital preservation, yield and client service are what set us apart.
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.
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
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
Liquidity team
Tony Callcott
Global Head of Liquidity Client Solutions
View profile
Beth Jones
Client Solutions Manager, Liquidity
View profile
Scott Playle
Client Solutions Manager, Liquidity
View profile
Julian Webb
Client Solutions Manager, Liquidity
View profile
Sandrine Godere
Client Solutions Manager, Liquidity
View profile
Caroline Hedges
Global Head of Liquidity Portfolio Management
View profile
Richard Hallett
Head of UK Liquidity Portfolio Management
View profile
Demi Angelaki
Senior Portfolio Manager
View profile
Sophie Labigne
Liquidity Fund Manager
View profile
Mhammed Belfaida
Portfolio Manager
View profile
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 723.9 KB 149 pages
Aviva Investors Liquidity Funds Prospectus - 15 June 2020
- PDF 95.3 KB 1 page
Prospectus addendum 15 June 2020
- 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 2.1 MB 14 pages
Aviva Investors Liquidity Application Form
Supporting literature
- PDF 168.8 KB 5 pages
What happens if GBP goes Negative?
- PDF 62.4 KB 1 page
Aviva Investors Liquidity Fund- Fund Range
- PDF 826.1 KB 4 pages
Aviva Investors Liquidity Solutions Brochure
- PDF 772.1 KB 4 pages
Aviva Investors- EU Money Market Fund Reform
- PDF 112.8 KB 1 page
Aviva Investors Liquidity Funds- Sterling & Euro Fund Holidays
- PDF 188.1 KB 1 page
Aviva Investors Liquidity Funds - US Dollar Fund Holidays
- PDF 88.3 KB 2 pages
Aviva Investors Liquidity Funds Country Registration
Fixed income views
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.
Read more
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.
Read more
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?
Read more
Home and leisure in a pandemic: Girls (and boys) still want to have fun
13 Oct 2020
From cinemas to cruises, the consumer-driven home and leisure sector was hit hard by lockdown restrictions. With economies reopening in a disjointed manner, some sub-sectors have rebounded quickly while others continue to struggle. Here, we look at how the pandemic is reshaping the industry and the implications for investors.
Read more
Fed’s policy shift may spell long-term trouble for bonds
23 Sep 2020
Bond markets have taken the recent shift in the Federal Reserve’s policy framework in their stride, partly because interest rates are now expected to stay lower for even longer. But they look vulnerable if the Fed can revive inflation.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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.
Read more
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?
Read more
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.
Read more
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.
Read more
This investment does not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share.