Aviva has launched a new defined contribution (DC) default investment strategy, My Future Vision, which will allocate a “meaningful” 20% to 25% of assets to global private markets depending on members’ proximity to retirement.
The strategy, available to Aviva’s trust-based schemes from October 2025, will invest in private equity, infrastructure, real estate and private debt.
Aviva has partnered with five specialist global asset managers – Neuberger Berman, StepStone Group, KKR, Invesco and Apollo Global Management – alongside Aviva Investors’ own capabilities.
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.”
Mark Versey, chief executive officer of Aviva Investors, added: “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.”
Neuberger Berman, which has $140bn in private markets assets under management, will provide access to global private equity.
StepStone Group, with a $723bn global platform, is another of Aviva’s selected partners. Jason Ment, president and co-chief operating officer, said: “Partnering with Aviva allows us to extend that mission and we’re confident this has the potential to enhance long-term outcomes for UK retirement savers.”
The new strategy supports Aviva’s commitments under the UK government’s Mansion House Compact and Accord to increase private markets exposure in DC default funds by 2030.
Master Trust
Meanwhile, the Aviva Master Trust has passed £15bn (€17.2bn) in assets under management, serving more than 500,000 members and over 550 employers.
The Aviva Master Trust aims to “play an important role in shaping the UK’s workplace pensions landscape”, the firm stated.
“Its growth has been driven by a combination of new employer mandates, consistent contributions from existing clients, and resilient investment performance amid challenging market conditions – underscoring the scheme’s strength, agility, and long-term value,” it added.
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