Aviva Master Trust has published its Statement of Investment Principles for year end May 2025.
The fund is expanding its allocation to illiquid assets beyond its historical focus on UK Real Estate. Beginning in Q1 2025, the Trustee is introducing Multi-Asset Private Debt as part of the default arrangements. This represents a strategic shift intended to improve diversification and risk-adjusted returns for members, particularly in the growth phase of the lifestyle strategy for members aged 55 or younger, assuming retirement at 65. (Page 33)
Additionally, the Trustee plans to further diversify its exposure to illiquid asset classes by including Infrastructure Equity and Venture Capital. These are identified as future additions to the Scheme’s investment mix, supporting a broader range of private market investments within the fund’s long-term asset strategy. (Page 33)
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