Aviva Investors – UK Equity Unconstrained Fund B GBP Acc

ISIN

LU0010020310

Asset class

Equity

NAV

7.60 GBP (as at 24/02/2026)

View all funds

Fund overview

Objective: The objective of the Fund is to increase the value of the Shareholder's investment over the long term (5 years or more) by investing in shares of UK companies.

Investments: The Fund invests mainly in the equities of UK companies. Specifically, at all times, the Fund invests at least 80% of total net assets (excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds) in equities and equity-related securities of UK companies (incorporated or domiciled in the UK), doing most of their business, or non-UK companies which are listed in the UK or which have significant trading activities in the UK.

Strategy: The Fund is actively managed allowing the Investment Manager the freedom to invest in selected companies of any size, and at any stage of the business cycle (that is consistent with Aviva Investors’ ESG philosophy). This will include investing in market leading and mature companies with the potential for superior earnings growth and sustainable dividends, as well as identifying companies which are out of favour at a particular point in time but where there is a specific opportunity for the company's value to increase in the future.

For more details on the Fund specific risks, click here.

Share class currency
GBP
Return type (Inc / Acc)
Accumulation
Share class
B
Minimum Investment
GBP 0
Fund size (as at 24/02/2026)
GBP 25.21m
Share class inception date
02/07/1990
Fund launch date
02/07/1990
Performance benchmark
FTSE AllSh TR GBP
Fund volatility
8.72
Benchmark volatility
7.62
SFDR
Article 8
IA Sector
-
Distribution dates
-
Income distribution frequency
-
Latest dividend
-

Historic yield

The historic yield reflects distributions declared over the past 12 months as a percentage of the share / unit price, on the date shown. This does not include entry charges and investors may be subject to further tax on their distributions.

0.00%

Underlying yield

This reflects the annualised income net of expenses of the fund as a percentage of the share price of the fund on the date shown. It does not include the deduction of entry charges and is the gross return before tax on distributions.

-

Distribution yield

This reflects the amount that is expected to be distributed over the next 12 months as a percentage of the share price of the fund on the date shown. It does not include the deduction of entry charges and is the gross return before tax on distributions. You may be subject to further tax on your distributions. The yield is not guaranteed.

-
Fund income (gross of charges and taxes)*
-
Benchmark Income (gross of charges and taxes)*
-
Trading currency
GBP
NAV (as at 24/02/2026)
7.60
Daily change
0.04%
12 Months NAV high (as at 19/01/2026)
7.80
12 Months NAV low (as at 08/04/2025)
6.52
Valuation frequency
Daily
ISIN
LU0010020310
SEDOL
B2PDBS2
MEXID
CUPEUK
Bloomberg
CUEUKGI LX

Cumulative performance

Source: Morningstar

Past performance is not a guide to future performance
Performance basis: Mid to mid, in the share class reference currency, gross of tax payable by the Fund with income reinvested. Net figures are net of ongoing charges and fees. Net and Gross performance does not include the effect of any exit or entry charge.

The Fund's performance is compared against and the Fund aims to outperform the FTSE All Share TR Index (the “Benchmark” or the “Index”).

For further information on Sustainability Risk please refer to the Sustainable Finance Disclosure section

Fund commentary

Summary review (as at December 2025)

The UK equity market produced positive returns in the fourth quarter. The FTSE 100 set a new all-time high of just below 10,000 on the penultimate trading day of December, capping a fine year for the UK market in which it returned over 25%. The fund’s weak relative returns stemmed mainly from sector allocation, with the materially overweight exposure to technology weighing on performance.

Fees and expenses

Fees %

Entry charge (max.) Entry charge (max.)

Entry charge (max.)

A one-off charge may be taken from your money before it is invested. The charge is usually a percentage of the amount invested and is additional to the price paid for the units/shares. The entry charge is deducted from the investment before units/shares are bought and is also known as the “initial charge”.

 5.00

Exit charge (max.) Exit charge (max.)

Exit charge (max.)

A one-off charge levied on redemption of units/shares before the proceeds of your investment are paid out. This is also known as a “redemption charge”.

 0.00

Ongoing charges Ongoing charges

Ongoing charges

The ongoing charge figure represents the costs you can expect to pay annually based on last year's expenses. The ongoing charges figure is made up of various elements such as the fund management fee, professional fees, audit fees and custody fees. Performance fees (if payable) are not included in this figure.

 2.09

Management Fee (max.) (included in Ongoing charge) Management Fee (max.)

Management Fee (max.)

The management fee is fixed rate charge to cover the costs of managing the investments of the fund. It accrues daily on a percentage of the fund's net asset value and deducted from the fund's assets.

 1.50

Performance fee (max.) Performance fee (max.)

Performance fee (max.)

The percentage of any outperformance of the hurdle rate and/or benchmark that will be taken as a performance fee.

 0.00

Portfolio

Portfolio stats (as at 31/01/2026)

Aviva Investors - Emerging Markets Bond Fund Iyh GBP Acc Portfolio stats
1 Year 3 Years 5 Years

Alpha

Indicates the excess return provided by the Fund over the benchmark.

 -16.02 -6.51 -5.88

Beta

A measure of the fund volatility in comparison to the market. A beta of less than 1 implies that the fund will be less volatile than the market whilst a beta greater than 1 implies the fund is more volatile than the market. As an example, a fund with a beta of 1.2 would be expected to rise to 1.2 if there was a 1 unit rise of the benchmark, or to fall 1.2 units if there was a 1 unit fall in the benchmark.

 0.83 0.80 1.07

Information ratio

A measure of the manager's ability to generate excess and consistent returns relative to the funds benchmark. The greater the IR, the more consistent a manager is.

 -3.85 -1.57 -0.88

Correlation (%)

Measures the extent to which the Fund and the benchmark move together, a correlation of 1 indicates the Fund matched the benchmark exactly.

 53.03 64.09 69.81

Sharpe ratio

A measure of the fund's risk-adjusted performance. The greater the fund's Sharpe ratio, the better its historical risk-adjusted performance has been. This ratio is best used to compare a number of funds rather than used in isolation for a single fund.

 -0.44 -0.01 0.32

Annualised volatility (%)

A measure of the funds dispersion of returns. A higher volatility implies that a fund's return is spread over a larger range of values whilst a lower volatility implies that a funds return is spread over a smaller range of values.

 7.60 8.86 12.37

Tracking error (%) *

A measure of how closely the fund follows its benchmark. A passive fund should have a tracking error close to zero, while an actively managed fund would normally have a higher tracking error.

 5.33 5.59 6.86

* The Fund is expected to have an average yearly tracking error of between 3% and 8% when compared to the Index.

Read more about Stock style Stock style (as at 31/01/2026)

The Equity style box classifies holdings into market capitalization on the vertical axis (company size) and investment style on the horizontal axis (growth or value). This graphical representation is determined by attributing an investment style to each underlying holding, which is then summarised here for the overall fund.
A well-diversified fund doesn't necessarily require holdings across all styles, however, exposure across the Style Box does represent greater diversification.
Legend:
Val: Value
Core: Core
Gwt: Growth

Large: Group that accounts for the top 70% of the capitalization of the Morningstar domestic stock universe.
Medium: Group that accounts for the next 20% of the capitalization of the Morningstar domestic stock universe.
Small: Group that accounts for the bottom 10% of the capitalization of the Morningstar domestic stock universe.

Pie chart

Asset Allocation (as at 31/01/2026)

Bar chart

Asset Allocation (as at 31/01/2026)

Aviva Investors - Emerging Markets Bond Fund Iyh GBP Acc Portfolio stats
Name Maturity Country Fund (%)
1 AstraZeneca PLC - GBR 6.88
2 HSBC Holdings PLC - GBR 6.30
3 Shell PLC - GBR 6.11
4 Unilever PLC - GBR 5.74
5 Lloyds Banking Group PLC - GBR 5.41
6 Reckitt Benckiser Group PLC - GBR 3.89
7 Rio Tinto PLC Ordinary Shares - GBR 3.62
8 Compass Group PLC - GBR 3.44
9 RELX PLC - GBR 3.40
10 London Stock Exchange Group PLC - GBR 3.08

Risks

Investment Risk
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.

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.

Sustainability Risk
The level of sustainability risk may fluctuate depending on which investment opportunities the Investment Manager identifies. This means that the fund is exposed to Sustainability Risk which may impact the value of investments over the long term.

Full information on risks applicable to the Fund are in the Prospectus and the Key Investor Information Document (KIID).

Management

  • Company name

    Aviva Investors Luxembourg SA

  • Legal structure

    Société d'investissement à Capital Variable

  • Head office

    2, rue du Fort Bourbon,
    PO Box 1375,
    Luxembourg,
    Luxembourg,
    L-1249

  • Ucits

    Yes

Fund managers

Fund manager

Charlotte Meyrick

Manager start date

19 Feb 2024

Biography

Charlotte manages the Aviva Investors Small and Mid-Cap Equity Fund. Charlotte joined the investment industry in June 2012 as a UK equity analyst as part of the Aviva Investors graduate training scheme providing analytical and research coverage of the retail and leisure sectors. Charlotte holds a BSc in Business Administration from Bath University, and is a CFA® charterholder.

Fund manager

Matthew Bennison

Manager start date

12 Jan 2026

Biography

Matt is Head of UK Active Equities and co-portfolio manager for Aviva Investors' UK Equity Core, Stewardship and Unconstrained strategies. He also holds analytical responsibilities within the team, focusing on the Information Technology and Communication Services sectors. Prior to joining Aviva Investors, Matt was a UK Equity Fund Manager at Schroders, where he co-managed a range of Core, Income, and Sustainable portfolios across both institutional and retail channels within the Prime UK Equity team. Matt began his investment career in 2012 at Schroders Private Bank (which later became Cazenove Capital), supporting the Chief Investment Officer. In 2015, he transitioned to the Schroder Prime UK Equity team as an analyst before progressing to portfolio management. He is a CFA Charterholder and holds a Bachelor of Arts in Natural Sciences from the University of Cambridge, along with a one-year Management Studies qualification from Judge Business School, Cambridge.

Registered countries

  • Spain
  • France
  • United Kingdom
  • Italy
  • Luxembourg
  • Norway
  • Sweden

Documents

View the fund range legal documents here.

Important information

Unless stated otherwise the source for all performance, portfolio and fund breakdown data is Morningstar. This information does not constitute advice or a recommendation. If you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Care is taken to ensure that the information provided by Morningstar is correct but it neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

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