A range of global multi-asset funds with a focus on active investment
Growth assets include equity but also riskier forms of fixed income.
Defensive assets include sovereign debt, investment grade credit and cash.
Alternative assets include absolute return strategies.
Multi-asset Plus Fund I
The Fund is managed to a “defensive” risk profile. It targets 20% equity market risk* aiming to remain within a defined risk range of 12% to 28%.
Multi-asset Plus Fund II
The Fund is managed to a “cautious” risk profile. It targets 45% equity market risk* aiming to remain within a defined risk range of 37% to 53%.
Multi-asset Plus Fund III
The Fund is managed to a “moderately cautious” risk profile. It targets 60% equity market risk* aiming to remain within a defined risk range of 52% to 68%.
Multi-asset Plus Fund IV
The Fund is managed to a “balanced” risk profile. It targets 75% equity market risk* aiming to remain within a defined risk range of 67% to 83%.
Multi-asset Plus Fund V
The Fund is managed to an “adventurous” risk profile. It targets 100% equity market risk* aiming to remain within a defined risk range of 92% to 108%.
* The funds target a percentage of overall equity market volatility as measured by MSCI® All Country World Index.
Multi-asset funds quarterly update
Multi-asset fund manager Sotirios Nakos answers key questions about market conditions and how they impact asset allocation decisions in our MAF Core and Plus funds. This video is available for you to share and discuss with your clients.
Transcript for video Multi-asset funds quarterly video update - Q3 2024
Transcript not available
Download our customer brochure
For additional information on our MAF funds, download our customer brochure.
Multi-asset Plus Key Features
The Aviva Investors multi-asset funds aim to give you a simple way to grow your savings. They invest globally in a selection of asset classes, including equities and bonds, allowing you to access a variety of different investments – all in one place. They are medium to long-term investments, so you should be prepared to invest for five years or more. Multi-asset Plus is accessible via a range of different pension, investment and savings products. With Multi-asset Plus you get three key features:
Multi-asset expertise
Multi-asset Plus consists of a broad range of global growth, defensive and uncorrelated assets. The funds utilise in house strategic and tactical asset allocations to drive returns. We have been trusted to manage multi-asset solutions for more than 40 years and manage over £110 billion in multi-asset solutions today.
Product features
In-house built strategic asset allocation
Tactical (active) asset allocation
Use of alternative asset classes
ESG integration
ESG factors are integrated into the investment process in various ways, as the range can access funds that either have an active ESG overlay or a specific ESG objective. We also actively engage with organisations with the aim of positively influencing company behaviour.*
Great value
We aim to give clients great performance at a competitive cost, with Multi-asset Plus priced at a capped OCF of 0.60%. We offer transparency on our performance through stated fund benchmarks and outline an alpha expectation with an outperformance objective. The funds map to key market risk profiling tools as outlined below.
Product features
Risk profiled
Performance benchmarks
Competitive fees (0.60% Capped OCF)
*In MAF Plus, ESG integration is assessed as part of the fund selection process. The range can invest in both internal and external funds that integrate ESG into their investment process, or funds with no ESG integration approach. Though not restricted by ESG factors, the investment manager always applies the Firm’s Baseline Exclusions Policy and any specific constraints within a prospectus or IMA, but any other ESG factors or risk considerations are adopted at the manager’s discretion.
Multi-asset Plus Objectives
| PLUS I | PLUS II | PLUS III | PLUS IV | PLUS V | |
| Performance Benchmarks | 20% Global equity 80% Global bonds | 45% Global equity 55% Global bonds | 60% Global equity 40% Global bonds | 75% Global equity 25% Global bonds | 100% Global equity 0% Global bonds |
| Target Equity Volatility | 20% | 45% | 60% | 75% | 100% |
| Outperformance Objective | +1.30% | +1.30% | +1.30% | +1.30% | +1.30% |
| Fixed Fund OCF | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Global equity = MSCI® All Countries World Index (Net)
Global bonds = Bloomberg Global Aggregate Bond Index Hedged GBP
Risk ratings that funds map to
| PLUS I | PLUS II | PLUS III | PLUS IV | PLUS V | |
| Defaqto | 2 | 4 | 5 | 7 | 9 |
| Dynamic Planner | 3 | 4 | 5 | 6 | 8 |
| EValue | 5 | 8 | 9 | 10 | 10 |
| Synaptic | 2.5 | 3.3 | 3.8 | 4.5 | 5.2 |
| FinaMetrica | 19-44 | 45-57 | 58-67 | 68-78 | 79-100 |
Where to invest in Aviva Investors Multi-asset fund ranges
Webcast: What big questions are investors asking right now?
Join our multi-asset team as we ask them the big questions from investors heading into 2025.
Smera Ashraf, Head of Global Wealth UK, will host a live discussion and Q&A with Sunil Krishnan and Baylee Wakefield from our multi-asset portfolio management team, who will be answering the most-asked questions from clients.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Investment risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Emerging markets risk
The funds invest in emerging markets; these markets may be volatile and carry higher risk than developed markets.
Derivatives risk
The funds use derivatives; these can be complex and highly volatile. Derivatives may not perform as expected, which means the funds may suffer significant losses.
MAF Plus: Multi-asset fund range team
Peter Fitzgerald
Chief Investment Officer, Multi-asset & Macro; Portfolio Manager, AIMS Target Return Fund
Sunil Krishnan
Head of Multi-Asset Funds
Sotirios Nakos
Fund Manager, Multi-asset
Baylee Wakefield
Portfolio Manager, Multi-asset
Shane O'Brien
Senior Investment Director, Multi-asset
Thomas Stokes
Investment Director, Multi-assets
Explore our other multi-asset fund ranges
Aviva Investors MAF Core: Multi-asset fund range
A simple multi-asset investing solution that invests in Growth and Defensive assets. The asset mix for each MAF Core fund is reviewed by the investment team on a quarterly basis.
Aviva Investors MAF Sustainable Stewardship
Risk-profiled multi-asset portfolios with a focus on sustainable investment linked to our three pillars: Social, Climate and Nature.
Multi-asset views
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Multi-asset allocation views: Where next for markets after the summer storms?
9 Oct 2024
Volatility returned to markets in the third quarter of the year. While the short-term drivers are not unduly worrying, Sunil Krishnan argues multi-asset investors will need to be watchful over the medium term.
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Multi-asset allocation views: Three faces of reflation
6 Jun 2024
Reflation – another word for increasing economic activity, with an undertone that inflation isn't consistently falling – has been the dominant theme for investors so far in 2024. Sunil Krishnan explores how it is affecting bonds, equities and commodities.
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Multi-asset allocation views: Cutting through the noise
26 Sep 2023
Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
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Multi-asset allocation views: A silver lining for gilts
4 Aug 2023
UK gilts have underperformed other government bonds over the last year. Sunil Krishnan explains why the worst may be over.
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Multi-asset allocation views: An emerging direction
29 Jun 2023
With economies getting stronger and interest rates nearing their peak, the environment looks supportive for equity and bond markets, but emerging markets face challenges. Sunil Krishnan assesses the implications for multi-asset investors.
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Multi-asset allocation views: Perfect storm or storm in a teacup?
23 May 2023
Recent concerns over the banking sector seem to have eased, but have raised uncertainties around the availability of credit and the path of interest rates. Sunil Krishnan assesses the consequences for multi-asset investors.
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Multi-asset allocation views: How politics are influencing markets
22 Nov 2022
Political risk has returned with a vengeance in 2022. Sunil Krishnan discusses what this means for multi-asset portfolios.
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Multi-asset allocation views: What high inflation means for portfolios
12 Oct 2022
Inflation has direct and indirect consequences for financial markets. Sunil Krishnan reflects on how multi-asset investors can mitigate them and find areas of resilience.
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Multi-asset allocation views: Central banks’ delicate balancing act
6 Jun 2022
With high levels of inflation persisting around the world, central banks must tighten policy without hurting consumer demand and economic growth. This will be more difficult for some central banks than others, says Sunil Krishnan.
