Aviva’s new default pension strategy to invest in private markets
Aviva Investors has added a new default defined contribution pension investment strategy to its existing core default range that will have an allocation to private markets.
The new strategy, My Future Vision, will allocate between 20 per cent to 25 per cent of assets to global private markets, including in private equity, infrastructure, real estate and private debt.
My Future Vision will have access to the asset class through Aviva’s own private markets business, as well as via a selection of global asset managers, including KKR, Apollo Global Management, Neuberger, Invesco and StepStone Group.
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Aviva said that, rather than adopting a “single ‘one-stop-shop’ multi-asset fund” approach, the new strategy will allocate discretely to a range of specialist private markets managers, allowing for “flexible, stage-appropriate allocations”.
This means, in turn, that the underlying private markets allocation can be tailored, depending on the different risks members face.
My Future Vision, which builds on its existing core default range My Future and My Future Focus, will be available to Aviva’s trust-based schemes from 1 October 2025, and will be rolled out more widely in time.
“This new and innovative solution will invest in a wide range of private market investment strategies and will consider the evolving challenges savers encounter at different stages of their journey to retirement,” said Maiyuresh Rajah, director of investments at Aviva.
“My Future Vision is a major step forward for defined contribution pension schemes when it comes to the scope and sophistication of private market investing.”
Aviva Investors has pledged, under the Mansion House Compact, to allocate five per cent of default investment strategies to unlisted equities by 2030.
My Future Vision also supports the Mansion House Accord, under which Aviva is required to invest at least 10 per cent of defined contribution default funds in private markets by 2030, with five per cent of the total allocated to the UK.
“Running the overall strategy in-house and using our own private markets business, complemented by allocations to third-party partners, this launch fits with our ambition to be the go-to provider of funds that can help defined contribution investors better access a broader range of asset classes and risk-return profiles,” added Mark Versey, chief executive of Aviva Investors.
“We believe it will support increased investment in the UK, alongside better access to opportunities in global private markets, all whilst delivering long-term investment outcomes for millions of savers.”
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