Aviva Fund Centre

Welcome to the Aviva fund centre. If you haven’t already, please read our 'introduction to the fund centre' for important information about our range of funds. If you’re unsure of how to use the fund tools, please read our guide on how to use the fund centre.

Each of our funds has a ‘fund factsheet', you can see this by clicking on the fund name. This gives you detailed information about what the fund invests in, its objectives and performance. To help you understand the information fully, please read our guide to the fund factsheets:

Life and pensions - Your Guide to fund factsheets
Collectives Investments – Your fund factsheet glossary
We recommend you speak to a financial adviser before you make any investment decisions.

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The past performance figures we show are not a guide to what will happen to your investments in the future. The fund values are not guaranteed and can go down as well as up. Depending on how your funds perform, your fund value may be less than the amount you originally invested.

All performance figures take into account the actual fund charge or an indicative net charge. The indicative net charge is equivalent to the charge that applies to most new customers investing in the funds. This may not be exactly the same as the charge that applies to your investment so the performance may not be the same.

For collective investment funds, all performance figures take into account the actual fund charge but do not include the effect of the initial charge and any redemption fees.
††This is not a retail share class (collective investment funds only) and is subject to different eligibility criteria for new investments and top ups than the retail share classes.

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Source of performance data: FE

Fund name/Factsheet

Fund name

In the fund list below, you’ll see the words at the end of the fund name such as ‘S13’ or ‘(CGU)’. This indicates the fund series. If a fund has more than one series there may be a difference in the unit prices and charges. Your annual statement will indicate which fund series your plan belongs to, or you can check it against our list of products: Life products Pension products Collective investments

Factsheet

Each of our funds has a fund factsheet to help you understand more about it. The factsheet contains key information about the fund, from what it invests in to how it has performed. Please make sure you read the guid to your fund factsheet: Life and Pensions - Your guide to fund factsheets Collective Investments - Your fund factsheet glossary

% Growth

The purpose of a fund is to grow your investments, although there is also a chance the value of your investment can fall. This tab shows the performance over a number of time periods from the very short term (under a year) to the longer term (up to five years). The past performance figures we show are not a guide to what will happen to your investments in the future. The fund values are not guaranteed and can go down as well as up. Depending on how your funds perform, your fund value may be less than the amount you originally invested.

The figures are updated daily, excluding bank holidays and weekends. Where we show cumulative performance, we use the unit price from the previous working day. We don’t provide past performance information for funds with less than 12 months performance.

Selling price

Depending on the product you bought, we quote two prices for some funds. The buying price is the price you pay when you buy units/shares from us. The selling price is the price we buy them back from you if you choose to sell your investment (e.g. switch out of the fund).

Buying price

Depending on the product you bought, we quote two prices for some funds. The buying price is the price you pay when you buy units/shares from us. The selling price is the price we buy them back from you if you choose to sell your investment (e.g. switch out of the fund).

Fund manager

These are the people or teams responsible for the fund’s investment strategy and managing its activity.

Investment fund type

Aviva categorises its funds into ‘investment fund types’. Each fund defined as a particular ‘type’ will have similar characteristics. For example, funds in the Equities category will mainly invest in equities. Some funds may also belong to more than one category. For example, an equity fund that aims to follow a specific stock market index will also be in the 'Tracker' category. You can view our investment fund type definitions on our ‘important information’ page.

Extra management charge/additional yearly charge

With certain funds you’ll have to pay an extra charge; this reflects the extra cost of managing these funds. The charge you'll pay will vary depending on the fund you choose. For bond customers: for funds with a guarantee, the extra charge will only apply up to the guarantee point.

Fund Manager Expense Charge (FMEC)

FMECs are additional charges that cover the fund manager’s expenses connected with buying, selling, valuing, owning and maintaining the assets in the funds. This charge is taken into account in the unit price. FMECs may vary from year to year.

Total Additional Yearly Charge

This is the total sum of the extra management charge/additional yearly charge and any fund manager expense charge (FMEC).

Annual Charge

This charge is taken into account in the buying or selling price (see ‘Price’ tab).

Alpha

Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. It represents the return of the fund when the benchmark is assumed to have a return of zero, and thus indicates the extra value that the manager's activities have contributed: if the Alpha is 5, the fund has outperformed its benchmark by 5% and the greater the Alpha, the greater the out performance.

The figures shown are calculated over 3 years to the last month end.

Beta

Beta is a measure of a fund’s volatility (standard deviation) relative to that of its benchmark, i.e. how sensitive the fund is to movements in the section of the market that comprises the benchmark.

A positive Beta indicates that the fund moves broadly in the same direction as the benchmark, while a negative Beta indicates that a fund will move in the opposite direction to the benchmark. For example, a fund with a Beta close to 1 will have experienced movements broadly in line with the benchmark, whilst a fund with a Beta of 1.2 suggests that the movement of the fund is 1.2 times that of the benchmark.

The figures shown are calculated over 3 years to the last month end.

Sharpe

This is a commonly-used measure which calculates the level of a fund's return over and above the return of a notional risk-free investment, such as cash or Government bonds. The difference in returns is then divided by the fund's standard deviation - its volatility, or risk measurement. The resulting ratio is an indication of the amount of excess return generated per unit of risk. The higher the Sharpe ratio, the better the portfolio’s risk adjusted performance.

The figures shown are calculated over 3 years to the last month end.

Volatility

Standard Deviation is a commonly used measure of risk. Specifically, it measures the variability of actual returns from their expected (average) values and the dispersion of these variations over time.

The higher the standard deviation the wider the dispersions from their mean, and generally, the greater the risk due to the lower predictability of returns. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%. Another fund with the same average return and 5% volatility would return between 10% and nothing.

Standard Deviation is more commonly referred to as volatility.

The figures shown are calculated over 3 years to the last month end.

Aviva Risk Rating

To help you decide which investment funds to invest in, we give each one a risk/return rating, ranging from 1 (low) to 5 (high). This table explains what each rating means.

Risk/return rating Typical fund characteristics
1 (Low) Funds with this rating usually aim to provide returns similar to those you’d get from deposit and savings accounts, although there’s still a risk the value of your investment could fall.
2 (Low to medium) Expected to provide better long-term returns than savings accounts. Typically invest in high quality corporate bonds or provide a form of guarantee or capital protection, although there is still a risk the value of your investment could fall.
3 (Medium) Typically don’t offer guarantees, but have the potential for better long-term returns than lower risk funds, although there’s a risk the value of your investment could fall. Generally invest in a diversified mix of assets or in fixed income bonds issued by higher risk companies.
4 (Medium to high) Funds that typically invest in shares of companies in the UK or other major stock markets. Fund prices may fluctuate significantly but offer the potential for good returns over the long term.
5 (High) Funds that invest in the higher risk sectors (typically emerging markets or specific themes), offering the greatest potential for long-term returns but the highest prices fluctuations and risk to your money.

Please note: We regularly review the ratings we give to each investment fund. So they might change from time to time. Our fund centre will show the current rating of a particular fund.

Fund manager initial charge

This is the charge you pay when you invest in a fund. It is a percentage of the share/unit price, which you pay on top of the purchase price for the shares or units. For example, if you invested £10,000 into a fund with a 5% initial charge, you would actually invest £9,500 after the charge is taken from your investment.

Negotiated initial charge

This is the fund management initial charge after we’ve negotiated with the fund manager. We can usually negotiate a lower charge, but often succeed in bringing the charge down to nothing.

Fund manager annual management charge

This charge pays for the ongoing annual costs of managing the fund, including administration and investment expertise. It is a percentage of the value of the fund.

Negotiated annual management charge

This is the fund manager annual charge after we’ve negotiated with the fund manager. We can usually agree a lower charge with the fund manager. At the moment, you pay the higher fund manager annual charge. We calculate the difference between the actual charge and the negotiated charge then use the extra money to buy additional units in the fund on your behalf. This rather complicated way of doing things is changing. We’ve launched new ‘clean’ funds, where you simply pay the lower charge. Customers will be converted into these funds by the end of 2014.

Fund Status

Open – This means the fund is open to new investments, including switches and future regular payments.

Closed to new money – This means the fund is closed to all new investments, including switches and future regular payments.

Closing soon – This means the fund will soon close to all new investments (including switches and future regular payments) and also close to existing investments. We will write to you if you are already invested in this fund, to give you your options.

% Change

This is the percentage increase/decrease in the price of a single unit/share compared to the previous day.

Fund sector

Every fund will belong to a fund sector. Each fund in a particular sector will usually have similar characteristics. Knowing what sector your funds are in lets you compare one fund with another of a similar nature. However, funds in the specialist or unclassified sectors do not have common characteristics, and comparison to other funds or the sector performance is not appropriate. Life and Pensions fund sectors are set by the ABI and have regulatory restrictions. Collective investment fund sectors are set by the IMA.

Product name

If you’re an existing customer and you’re unsure which product you’re invested in, check your annual statement or give us a call

Fund group

All funds are run by an ‘asset management’ company. Aviva uses a range of asset management companies to provide funds to you.

Fund series

In the fund lists below, you’ll see the words at the end of the fund name such as ‘S13’ or ‘CGU’. This indicates the fund series. If a fund is in more than one series there may be a difference in the unit prices and charges. Your annual statement will indicate which fund series your plan belongs to, or you can check it against our list of products: Life products Pension products Collective investments

ABI fund sector

Every fund will belong to a fund sector. Each fund in a particular sector will usually have similar characteristics. Knowing what sector your funds are in lets you compare one fund with another of a similar nature. However, funds in the specialist or unclassified sectors do not have common characteristics, and comparison to other funds or the sector performance is not appropriate. Life and Pensions fund sectors are set by the ABI and have regulatory restrictions.

IMA fund sector

Every fund will belong to a fund sector. Each fund in a particular sector will usually have similar characteristics. For example, invest in a specific geographic region, e.g. Europe. Knowing what sector your funds are in lets you compare one fund with another of a similar nature. However, funds in the specialist or unclassified sectors do not have common characteristics, and comparison to other funds or the sector performance is not appropriate. Collective investment fund sectors are set by the IMA.

Quick fund search

Please be as exact as possible to ensure all relevant funds appear.

Life

Our ‘Life’ products are investment bonds, unitised endowments and Whole of Life.

Collective investments

This covers investments such as OEICs and Unit Trusts.

The past performance figures we show are not a guide to what will happen to your investments in the future. The fund values are not guaranteed and can go down as well as up. Depending on how your funds perform, you may not get back what you originally invested.

All performance figures take into account the actual fund charge or an indicative net charge. The indicative net charge is equivalent to the charge that applies to most new customers investing in the funds. This may not be exactly the same as the charge that applies to your investment so the performance may not be the same.

For collective investment funds, all performance figures take into account the actual fund charge but do not include the effect of the initial charge and any redemption fees.
††This is not a retail share class (collective investment funds only) and is subject to different eligibility criteria for new investments and top ups than the retail share classes.

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