Important enhancements to our Multi-Asset ESG Range

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What's happening

We are enhancing our fund range to better meet the needs of our customers. Currently, we offer Multi-Asset Fund ranges from two Aviva Group companies to our customers. To simplify our range, we are closing the Multi-Asset Funds managed by Aviva Life & Pensions Ireland DAC and transferring customers to funds managed by Aviva Investors.  We believe this change is in customers’ best interests as it allows them to benefit from the scale1 and sustainability expertise of Aviva Investors2.

We are also changing the names of our Aviva Multi-Asset Funds to Aviva Multi-Asset ESG Active Funds. We are doing this to make the fund names more meaningful and promote the funds’ active management and environmental, social, and governance (ESG) characteristics. 

Summary of changes to our Multi-Asset Fund Ranges effective from June 2022³

Existing Fund Range (the closing Funds)

What we’re doing

Our New Fund Range (the new Funds) New Funds are categorised as Light Green Funds under European Sustainability Regulations4
Compass Multi-Asset Funds

 

 

We’re closing existing funds and transferring customers to new funds managed by Aviva Investors

Aviva Multi-Asset ESG Passive Plus

 

 

Yes

Magnet Multi-Asset Funds Aviva Multi-Asset ESG Active
My Future Aviva My Future ESG ARF Strategies
Old Fund Name What we're doing New Fund Name New Funds are categrised as Light Green Funds under European Sustainablility Regulations4
Multi-Asset Funds (MAFs) We're changing the fund names to reflect their active management and ESG focus Aviva Multi-Asset ESG Active Yes

We are writing to all our customers impacted by these changes on a phased basis from 03 May 2022.  If you are happy with the changes proposed, you do not need to do anything.

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Key Benefits

Offering diversification

Each fund spreads your investment across a diverse range of asset classes and regions while aiming to achieve a certain investment objective and risk level.

Managed by our experts

Each fund is managed by the Multi-Asset team in Aviva Investors. This team manages over €84 billion on behalf of customers worldwide.1

Doing good

Each fund aims to deliver attractive returns through a strong focus on environmental, social, and governance (ESG) factors.4

Giving value

The funds are available at our standard annual management charge or lower. 

ESG investing

ESG investing considers a company’s Environmental, Social, and Governance practices, alongside more traditional financial measures. Learn more about Aviva Investors’ approach to ESG.

 

My Fund is closing what does this mean for me?

From June 20223:

  • The new Funds will be managed by the Multi-Asset team in Aviva Investors. This team manages over €84 billion on behalf of customers worldwide1
  • The new Funds will have exposure to a diverse range of global assets. They will also match the risk rating and investment objective of the equivalent closing Funds, as closely as possible. 
  • The closing Funds follow a multi-manager approach and were overseen by Aviva Life & Pensions Ireland DAC. The new Funds are predominately single manager funds managed by Aviva Investors.
  • The new Funds’ annual management charge will be the same or lower. 
  • The asset transition costs involved in this change are being paid from the closing Funds. These costs will depend on the market conditions on the transaction day. We will endeavour to keep these costs to a minimum. 
  • The new Funds will be classified as light green funds under European Sustainability Regulations4. This means the new Fund(s) will incorporate environment, social, and governance (ESG) elements into their investment process, in addition to financial considerations.

If you are happy with the changes proposed, you do not need to do anything.

My Fund name is changing what does this mean for me?

The only thing we’re changing is the funds’ names in June 2022. The way we manage the funds, the fund charges, or the policy conditions won’t change, so you don’t need to do anything.

Warnings

Important information to consider.

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: These funds may be affected by changes in currency exchange rates.

Warning: If you invest in this product you will not have access to your money until you retire.

1. Source: Aviva Investors based on assets under management to 31 December 2021.
2. Aviva Investors has a dedicated team of 31 ESG Analysts (Source: Aviva Investors December 2021).
3. Aviva reserves the right to defer the closure date if market conditions are not suitable and we deem it is in the customers’ best interest to do so.
4. The European Regulations are the Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088) (SFDR). This regulation is designed to improve transparency in relation to sustainability risks and impacts in relation to financial products in the market and make it easier for investors to distinguish and compare the available sustainable investing strategies.

Aviva Life & Pensions Ireland Designated Activity Company, a private company limited by shares. Registered in Ireland No. 165970. Registered office at Building 12, Cherrywood Business Park, Loughlinstown, Co. Dublin, D18 W2P5. Aviva Life & Pensions Ireland Designated Activity Company, trading as Aviva Life & Pensions Ireland and Friends First, is regulated by the Central Bank of Ireland. Tel (01) 898 7950.