Aviva has taken another “bold step” into private markets by signing pensions deals with five global asset managers.
My Future Vision is Aviva’s new default pension investment strategy which allocates 20% to 25% of assets to global private markets depending on where a saver is in their journey to retirement.
It will also invest in private equity, infrastructure, real estate and private debt.
My Future Vision is in addition to its existing core default range and builds on the success of My Future and My Future Focus.
Aviva said the launch “marks a new chapter in defined contribution default design”.
To provide first-class access to these private markets, Aviva has combined the expertise of Aviva Investors with a selected group of specialist global asset managers; Neuberger, StepStone Group, KKR, Invesco, and Apollo Global Management.
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Designed with resilience and performance in mind, My Future Vision aims to deliver strong returns in a risk-managed way.
By enhancing diversification both across the strategy and within individual asset classes, it is built to provide enhanced returns and withstand periods of heightened market volatility.
A key differentiator lies in the implementation of the private markets allocation within My Future Vision.
Rather than adopting a single ‘one-stop-shop’ multi-asset fund, this strategy opts for a more tailored approach – allocating discretely to a range of specialist private markets managers.
This allows for flexible, stage-appropriate allocations – which means the underlying private markets allocation can be tailored depending on the different risks members face.
My Future Vision will support Aviva’s pledge under the Mansion House Compact to allocate 5% of default investment strategies to unlisted equities by 2030 – and the Mansion House Accord, to invest at least 10% of defined contribution default funds in private markets by 2030, with 5% of the total allocated to the UK.
Maiyuresh Rajah, director of investments at Aviva, said: “The addition of My Future Vision to our core default range reflects our continued commitment to delivering better long-term retirement outcomes for savers across the UK.
“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.
“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.”
Mark Versey, CEO at Aviva Investors, added: “My Future Vision showcases Aviva Investors’ multi-asset investment expertise combined with Aviva’s exceptional defined contribution capabilities.
“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.
“We believe it will support increased investment in the UK, alongside better access to opportunities in global private markets, all while delivering long-term investment outcomes for millions of savers.
“We look forward to working with our new investment partners and potentially adding new ones in the future.”
My Future Vision will be available to Aviva’s trust-based schemes from 1 October 2025. Aviva plans to roll it out more widely after that.
