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For many the thoughts of investing in financial markets is a pretty daunting task. As an industry we don’t really help ourselves either, the jargon, the acronyms and the seemingly endless amount of differing investment fund options make it a minefield for any potential investors.
Back in June 2022 Aviva Ireland launched their Fixed Fund range to help address some of these issues. The Fixed Funds are predominantly passively managed with a fixed allocation to global equities and global bonds. These Funds are rebalanced monthly to their core weights with returns being driven by the market.
Since launch these Funds have proved to be incredibly popular with brokers and their clients, but this isn’t surprising given the success of these type of “no frills” multi-asset funds in both the UK and US. In the UK, this style of fund now accounts for ca. 50% of assets under management in the multi-asset fund arena. There are number of reasons for this success which very much focus on the simple and straightforward nature of these funds while also providing very credible long-term market performance.
1. Evidence based investing
Evidence based investing relies heavily on empirical research and historical data to guide investment decisions. It tends to focus on the fact that in the long-term investment markets will do the heavy lifting and drive investment returns for investors. If we look back over the past 50 years the annualised return from global equities (MSCI World) has been 10% per annum.
MSCI World Total Return Annualised Returns to 31 July 2025 in local currency
Source: Bloomberg 30 June 2024
2. Easy to understand
The Fixed Funds take a straightforward approach to investing in financial markets, they are not trying to outperform the markets, they are simply trying to provide market like returns. In doing this an investor has a simple, transparent, and consistent approach when investing in global equities and bonds all managed within a passive framework.
The Aviva Fixed Funds. doing what they say on the tin, providing market like returns.
Gross annualised performance: 3 Years to 31 July 2025
| Fixed 20 | Fixed 40* | Fixed 60* | Fixed 80 | |
| Fund | 3.8% | 4.5% | 7.0% | 14.1% |
| Comparator Index (MSCI World and Bloomberg Global Agg Bond Index) | 3.6% | 4.4% | 7.0% | 14.2% |
Source: Longboat Analytics. Gross of annual management charges. *performance is from 1 August 2022
3. Focus on consistent performance
Performance remains a key driver for the Fixed Funds and long-term performance stacks up credibly when reviewed against active multi-asset peers. Active performance of peers may often be lumpy, there are good and bad years in relation to performance. The Fixed Funds remove this ongoing discussion as they seek to provide market like returns rather than trying to outperform markets.
Gross Annualised Fund Performance to 01 July 20241,2,3
| Low Risk | Medium Risk | Higher Risk | |
| Fixed 201 | Fixed 602 | Fixed 801 | |
| 10-year Return | 2.8% | 7.5% | 9.7% |
| Average Manager3 | 2.7% | 5.1% | 7.1% |
| Rank over 10 years | #3 | #1 | #2 |
4. A low cost approach
As the investment style of the fund range is passive and the asset allocation is fixed this leads to the fund management cost being -0.10% lower than standard fees. Due to the non-complex nature of the funds the on-going costs are also kept low and range between 0.06% to 0.08%bps. This framework allows brokers to be flexible with the approach they take to pricing a portfolio for a client should they wish to add other funds as satellite options to a core allocation of the fixed funds.
5. ESG built-in
Environmental, Social and Governance is now firmly on the radar for advisors and their clients due to the advent of sustainability preferences as part of a client conversation. While delivering market like returns in a passive framework the Fixed funds are designated as Article 8 under SFDR (Sustainable Finance Disclosure Regulation). This is backed up by the strong heritage of Aviva Investors when it comes to considering ESG in the investment process of their funds.
The Aviva Fixed Funds have been very well supported by the broker market since launch in June 2022 and have over €344m in assets as at the end of May 2024. It’s anticipated that these funds will continue to grow given the strong case using these funds for regular long-term savers as well as pension and investment business.
For further information on the Aviva Fixed Funds please contact your Account Manager.
1. Source: Aviva Investors/Bloomberg as at 31 July 2025. The Fixed Index is a composition of MSCI World NR EUR and Bloomberg Global Aggregate TR EUR Hedged, weighted according to the equity and fixed income weight of each fund, rebalanced monthly
2. Peer group with 10-year performance history is made up of Zurich Prisma, Aviva Active, Irish Life MAPS, Standard Life Market, Standard Life Active, New Ireland iFunds. Source; Average Manager; Longboat as at 31 July 2025 in euro and gross of management.
| Warning: Past performance is not a reliable guide to future performance. Warning: The value of your investment may go down as well as up. Warning: The income you earn from this investment may go down as well as up. Warning: If you invest in these funds you may lose some or all of the money you invest. Warning: These funds may be affected by changes in currency exchange rates. Warning: If you invest in a pension, you will not have access to your money until you retire. |
