Seeking resilient returns in a variety of market environments
In this unpredictable environment, building portfolios that are risk diversified, flexible and able to preserve capital through varying market conditions is more crucial than ever. Liquid alternative funds can play a vital role in a broad portfolio as a diversifier.
The AIMS Target Return Fund is a multi-strategy portfolio that can offer investors resilient returns in a variety of market environments, with a focus on capital preservation through periods of equity market stress. The Fund on average is composed of 20-30 diversified strategies with a medium to long-term investment horizon which can take long and short views across a variety of risk drivers.
Why invest?
AIMS Target Return is an unconstrained strategy, in contrast to traditional funds that are benchmarked. It employs a multi-strategy approach to improve the distribution of pay-offs and reduce the fund’s sensitivity to equity markets, targeting the following investor outcomes:
Absolute return
Targets annual return of five per cent over cash.1
Managing volatility
Maintain fund volatility at less than half that of global equities.1
Enhanced diversification
Lower sensitivity to equities and bonds.
1 Target for return and volatility is over a rolling three-year period. Outcomes and targets are not guaranteed and may not be achieved.
Explore fund performance and key data
Find the latest prices and performance data in our fund centre via the links below. If you have any questions, please contact our distribution team.
Aviva Investors Multi-Strategy Target Return Fund (SICAV)
The performance target of the AIMS Target Return is five per cent over the European Central Bank base rate per annum over any rolling three-year periods, before fees.
Find opportunities across all markets
The AIMS portfolio seeks to deliver returns by identifying investment ideas and opportunities across and within asset classes. Having managed this strategy for over ten years, the team have been evolving and strengthening the process by harnessing high-conviction ideas, making effective use of quantitative tools and a disciplined approach to risk-taking.
Unconstrained approach
Multi-strategy approach utilising discretionary and systematic strategies.
Connected thinking
Firm-wide collaboration seeks to generate best-in-class ideas.
Robust portfolio construction
Focus on capturing alpha whilst preserving capital to generate absolute returns across market cycles.
Seeking to deliver across market cycles
Survival of the fittest: Resilience, persistence and AIMS Target Return
AIMS Target Return seeks to deliver long-term capital growth with low volatility across market cycles. Learn more in this in-depth article exploring our approach.
Aviva Investors Multi-Strategy Target Return: Strategy-in-brief
Strategy-in-brief: A guide for Investment professionals.
Investment insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
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Beyond bonds: Finding diversification in an era of higher rates volatility
27 Nov 2024
Bond markets are jumpy once again following recent political developments. Rising deficits and renewed inflation risk mean bond market volatility, and with it the search for alternative sources of portfolio diversification, looks to be here to stay.
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When risks collide: The case for diversifying via liquid alternatives
23 Oct 2024
A growing number of investors are turning to alternatives to boost portfolio diversification, with the events of 2022 still fresh in their mind. In this article we look at why increased uncertainty over the future path of the stock-bond correlation, means this trend may persist.
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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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Survival of the fittest: Resilience, persistence and AIMS Target Return
7 Aug 2024
Aviva Investors’ Multi-Strategy Target Return managers talk about why their strategy has survived where others have failed, the lessons they have learned and why enhancements to their investment process in 2018 have been paying dividends.
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A new chapter: Time to prepare for the next phase of the real estate cycle
17 Jul 2024
David Hedalen and Jonathan Bayfield from our real assets research team highlight data that shows real estate markets in the UK and Europe may be on the brink of an important shift.
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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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Tech’s tightening grip: What rising US stock concentration means for equity investors
8 Apr 2024
Soaring technology share prices have driven US stock market concentration to unprecedented levels and pushed the US market to a record premium relative to other markets. While both trends could persist, investors need to be aware of the implications, argues Joao Toniato.
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Elections, rates, AI and China: Four disruptive themes shaping the multi-asset outlook
14 Dec 2023
Sunil Krishnan highlights the key themes for multi-asset investors to monitor in 2024.
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Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
24 Oct 2023
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
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China versus the West:The ongoing rise of economic nationalism
2 Oct 2023
The US and China continue to trade blows as each side looks to limit the other’s access to vital products. With industrial policies also making a comeback, companies are having to navigate a rapidly changing business environment. We look at the key implications for investors.
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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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What does the data say? Five charts for multi-asset investors
9 Aug 2023
We take a visual approach to explain what’s happening with UK inflation, web traffic for ChatGPT and Threads, and the slower-than-expected recovery of China’s economy.
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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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What does the data say? Three charts for multi-asset investors
19 Jun 2023
We take a visual approach to explain what’s happening with the US debt ceiling, LVMH and gold.
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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.
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant fund documents.
Investment risk and currency 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.
Derivatives risk
Investments can be made in derivatives, which can be complex and highly volatile. Derivatives may not perform as expected, meaning significant losses may be incurred.
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.
Multi-strategy team
The fund is managed by Peter Fitzgerald and Ian Pizer, who are directly accountable for idea generation and performance, drawing on the heritage and expertise within our multi-asset and macro division, our single asset class teams, and the sustainable investing team.
Peter Fitzgerald
Chief Investment Officer, Multi-asset & Macro; Portfolio Manager, AIMS Target Return Fund
Ian Pizer
Head of Multi-Strategy Funds and Portfolio Manager, AIMS Target Return
Explore
Multi-asset & multi-strategy
With over four decades of managing multi-asset and multi-strategy portfolios, we offer bespoke and off-the-shelf actively managed solutions.
The Investment Manager endeavours to comply with the requirements of the UK Stewardship Code when managing the Funds’ assets. Stewardship is the responsible allocation, management and oversight of capital to create long-term value for investors leading to sustainable benefits for the economy, the environment and society. Environmental (particularly climate) and social factors, in addition to governance, have become material issues for fund managers to consider when making investment decisions and undertaking stewardship. The Investment Manager therefore considers a range of financial and non-financial information when assessing investments and to inform its stewardship activities, including considering the potential or actual material risk that sustainability issues may have on an investment. For more information on how the Investment Manager carries out this activity and meets the requirements of the UK Stewardship Code, as well as details about Aviva Investors’ firmwide policy, please see our website: Policies and documents - Aviva Investors