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.

Insurance Award

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.

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Benefits

Our approach to capital preservation, yield and client service are what set us apart.

Capital preservation

Security of capital is of utmost importance. We therefore maintain a liquid and stable vehicle to delivery our internal and external clients' desired outcomes.

Yield

While stability is our primary goal, we aim to deliver competitive yields without diluting security of capital.

Client experience

Delivering exceptional client service is a major differentiating factor between money managers. We aim to deliver high levels of client servicing and manage the whole client experience with focus and attention to detail.

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.

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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.

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.

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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.

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Responsible Investing

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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Liquidity

Achieving the right results in a changing world

31 Mar 2020

The regulators have had their say and the money markets have been refreshed. Caroline Hedges, Global Head of Liquidity Portfolio Management, explores how change has seen some welcome outcomes.

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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.

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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.

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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.

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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.

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Read more about the funds

Fixed income views

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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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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This investment does not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share.