Aviva Cash Fund

Cash Fund Series C mainly invests in cash and bonds, with holdings concentrated in short-dated securities and bank/corporate issuers. The factsheet names issuers such as Landesbank Baden Wuerttemberg, NatWest Markets, Credit Agricole, La Banque Postale, MUFG Bank and Canadian Imperial Bank of Commerce. Cash Fund Series C is designed to keep the portfolio aligned with short-term money-market style exposures rather than longer-term assets.

Cash Fund Series C is aiming to generate returns in line with the ESTR Overnight Rate. That means the fund is seeking to track a very short-term euro benchmark that reflects overnight lending conditions in the market. Investors should not expect it to be trying to beat that rate, but to move broadly in line with it.

Cash Fund Series C may suit investors looking for a cash-like fund with relatively low risk and short-term exposure. Its SRI rating is 1, which indicates the lowest risk category on the fund’s scale. Cash Fund Series C still carries risks such as market fluctuations and liquidity risk; liquidity risk means it could be harder to sell some holdings quickly at a fair price if markets are stressed.

Cash Fund Series C carries market fluctuations, derivative risk, counterparty risk, inflation risk and liquidity risk. Counterparty risk means a bank or other trading partner could fail to meet its obligations, while derivative risk means instruments linked to another asset may move in unexpected ways. The fund also has no unit price guarantee, so the value can go down as well as up.

Cash Fund Series C is spread across several countries, including France, Germany, Japan, the United States, the Netherlands, Canada, Sweden, Finland and Qatar. This reflects the fund’s use of cash and bond exposures from a range of issuers rather than a single domestic market. The fund is managed by Demi Angelaki, with Aviva Investors as the underlying investment manager.