Aviva Investors UK Funds UK Property Feeder Inc Class 2 Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | -8.8% | -13.2% | 4.6% | 0.4% | -2.0% |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 1.0% | -4.0% | -0.4% | |
Holdings
| Stock | |
|---|---|
| Top ten holdings are 100.00% of the property assets. | |
| Central Studios, Reading (Other Commercial) | |
| Total | |
Fund Aims
The Fund aims to provide a combination of income and growth through exposure to property. The Fund will invest solely in the Aviva Investors UK Property Fund with the exception of cash balances which may also be held for the purposes of maintaining sufficient liquidity to enable the Fund to meet its commitments, such as expenses and redemptions. Please see the Fund's Key Investor Information Document for further details on what it will primarily invest in to achieve this objective.
Fund Manager
Andrew is a fund manager within the Retail Funds Team where he is lead fund manager for the Aviva Investors UK Property Fund.
Prior to assuming his current role in December 2016, Andrew managed Aviva Investors real estate funds across the UK and Europe for over 9 years. Before joining Aviva Investors Andrew spent five years at Curzon Global Partners as an associate director working across acquisitions, asset management and investment strategy. Andrew started his career at Donaldsons as a graduate surveyor in the valuation department.
Andrew holds a post-graduate diploma in Law from Nottingham Trent University, an MPhil in Real Estate Finance from the University of Cambridge, and an MA in Geography from the University of Oxford.
He holds the Investment Management Certificate and is a member of the Royal Institution of Chartered Surveyors.
Fund Overview
| Bid (26/04/2024) | 74.98p |
| Offer (26/04/2024) | 78.25p |
| Historic yield | 0.00% |
| Fund size (31/03/2023) | £32.49m |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.74% |
| Launch date | 18/08/2017 |
Asset Allocation
| Cash and Equivalents | 59.80% | |
| Property | 53.80% | |
| Other Assets | -13.60% |
Commentary
For investors concerned with income rather than total returns, there remains an attractive spread over bond yields. Intense demand for yield from income seeking investors has been holding up the whole market. However, UK property already looks a little less favourably priced on a relative basis than it did at the end of 2017. Despite a marginally more positive economic backdrop, UK direct real estate continues to look overpriced for total return investors. The share of the investment market that looks fair value remains very low, having shrunk noticeably over the past 2-3 years. Pricing in most sectors tightened over 2017, whereas the outlook for occupier markets remains relatively weak. It remains appropriate to continue positioning portfolios defensively, and reduce the risks posed by income risk, and cyclical assets and sectors. The excess returns on offer from moving up the risk curve are increasingly thin, although the likelihood of a severe correction still appears low, with yield driven investor demand for real estate set to remain robust in what remains a low interest rate environment.
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| Cash and Equivalents | 59.80% | |
| Property | 53.80% | |
| Other Assets | -13.60% |
Regional Allocation
| Cash and Equivalents | 59.80% | |
| UK | 53.80% | |
| Non-Classified | -13.60% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Cash and Equivalents | 59.80% | - | |
| UK | 53.80% | - | |
| Non-Classified | -13.60% | - | |
Property Regions
| Cash and Equivalents | 59.80% | |
| South East | 53.80% | |
| Other | -13.60% |
Property Sector
| Cash and Equivalents | 59.80% | |
| Direct Property | 53.80% | |
| Other | -13.60% |
Holdings
| Stock | Sector | Country | |
|---|---|---|---|
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | BYYZ246 |
| Mex Code | NUXXP |
| Isin Code | GB00BYYZ2464 |
| Citi Code | E2BC |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.74% |
Aims and Benchmark
| Aims | The Fund aims to provide a combination of income and growth through exposure to property. The Fund will invest solely in the Aviva Investors UK Property Fund with the exception of cash balances which may also be held for the purposes of maintaining sufficient liquidity to enable the Fund to meet its commitments, such as expenses and redemptions. Please see the Fund's Key Investor Information Document for further details on what it will primarily invest in to achieve this objective. |
| Benchmark | No benchmark applicable |
| Benchmark Category | - |
| IA Sector | UK Direct Property |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £0.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 April | 31 May |
| 01 October | 30 November |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | J.P. Morgan Europe Limited |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | J.P. Morgan Chase Bank |
Group Details
| Group name | Aviva Investors UK Fund Services Limited |
| Group address | St Helen's 1 Undershaft London EC3P 3DQ |
| Group telephone | 0800 015 4773 |
| Dealing telephone | 0800 587 4563 |
| fund&salessupport@avivainvestors.com | |
| Homepage | www.avivainvestors.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | £500000 |
| Minimum Top Up | £25000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | - |
| Settlement Period: Sell | - |
| Pricing Basis | None |
| Dealing Decimals | - |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 1.15 |
| Beta | 0.74 |
| Sharpe | 0.00 |
| Standard Deviation | 5.24 |
| Info Ratio | 0.26 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | Yes |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | Yes |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Sector Specific
The fund invests in specific sectors. Funds which invest in specific sectors may carry more risk than those spread across a number of different sectors. They may assume higher risk, as markets/sectors can be more volatile. In particular, gold, technology funds and other focused funds can suffer as the underlying stocks can be more volatile and less liquid.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Property
The fund invests in Property funds, property shares or direct property. In particular the following risks will apply:- The property market is illiquid and this can, in exceptional circumstances, lead to times in which clients are unable to dispose of part or all of their holding. Property valuations are made by independent agents but are ultimately subjective and a matter of judgement. Property transaction costs are high (typically around 7% due to legal costs, valuations and stamp duty)
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.