Morningstar Fund Report  | 17/04/2025Print

Aviva Investors US Equity Income Fund 1 GBP Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Aviva Investors US Equity Income Fund 1 GBP Inc
Fund22.96.1-3.719.0-1.3
+/-Cat-3.71.2-7.13.41.4
+/-B’mrk--4.3-3.21.00.4
 
Category: US Equity Income
Category Benchmark: Morningstar US High Div Yld...
Key Stats
NAV
16/04/2025		 GBX 232.67
Day Change -0.31%
Morningstar Category™ US Equity Income
IA (formerly IMA) Sector North America
ISIN GB00B451FS88
Fund Size (Mil)
16/04/2025		 GBP 35.95
Share Class Size (Mil)
16/04/2025		 GBP 0.22
Max Initial Charge 5.00%
Ongoing Charge
07/02/2025		  1.00%
Morningstar Research
Analyst Report28/02/2025
Morningstar Manager Research,
Morningstar, Inc

River Road, the outsourced manager of Aviva Investors US Equity Income, offers an experienced team and defensive approach that support a Morningstar Analyst Rating of Bronze across all share classes.Henry Sanders, who has been on the strategy...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: Aviva Investors US Equity Income Fund 1 GBP Inc
The Fund aims to grow investor's investment by providing combined income and capital growth greater than that of the Russell® 3000 Value Index over any given 5 year period, by investing in shares of companies listed on North American stock exchanges. Within this combined aim, the Fund seeks to deliver an income of at least 125% of the income of the Russell® 3000 Value Index over any given 12-month period. Both the income and combined return aims are measured before the deduction of Fund charges and tax. Typically, at least 80% of the Fund will be invested in shares of companies listed on North American stock exchanges.
Returns
Trailing Returns (GBP)16/04/2025
YTD-8.20
3 Years Annualised2.97
5 Years Annualised10.70
10 Years Annualised7.50
12 Month Yield 2.55
Dividend Paying Frequency 
Management
Manager Name
Start Date
Thomas Forsha
08/07/2011
Andrew McIntosh
01/10/2021
Inception Date
08/07/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Russell 3000 Value TR GBPMorningstar US High Div Yld NR USD
Portfolio Profile for  Aviva Investors US Equity Income Fund 1 GBP Inc31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock95.020.0095.02
Bond0.000.000.00
Property0.000.000.00
Cash4.140.004.14
Other0.840.000.84
Top 5 Regions%
United States92.26
United Kingdom3.28
Europe - ex Euro3.12
Canada1.34
Latin America0.00
Top 5 Sectors%
Technology18.61
Financial Services16.62
Healthcare13.44
Energy13.00
Consumer Defensive11.62
Top 5 HoldingsSector%
Williams Companies IncEnergyEnergy4.23
Kinder Morgan Inc Class PEnergyEnergy4.13
Oracle CorpTechnologyTechnology4.12
Unilever PLC ADRConsumer DefensiveConsumer Defensive3.11
Progressive CorpFinancial ServicesFinancial Services3.05
Increase Decrease New since last portfolio
Aviva Investors US Equity Income Fund 1 GBP Inc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Aviva Investors US Equity Income Fund 1 GBP Inc
Category:  US Equity Income
Category Index:  Morningstar US High Div Yld NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-2.5319.17-3.4322.876.13-3.6619.01-1.35
+/- Category-1.40-1.15-3.14-3.711.19-7.093.371.40
+/- Category Index-1.391.09-0.08--4.31-3.221.030.35
% Rank in Category7253679151773051
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.31   0.040.41
1 Week1.74   -0.19-0.70
1 Month-6.03   -0.400.77
3 Months-11.72   0.840.90
6 Months-7.69   -0.03-0.66
YTD-8.20   1.501.08
1 Year4.40   4.423.59
3 Years Annualised2.97   -1.80-1.28
5 Years Annualised10.70   -1.23-0.69
10 Years Annualised7.50   -1.94-1.78
 
Category: US Equity Income
Category Index: Morningstar US High Div Yld NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-1.35---
20247.720.095.125.01
2023-4.48-2.59-1.344.95
20224.44-3.023.900.86
20218.943.652.566.10
2020-21.7214.011.956.12
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-YearBelow AverageLow2 star
10-YearBelow AverageAverage2 star
OverallBelow AverageBelow Average2 star
 
Category :  US Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.08 %
3-Yr Mean Return5.27 %
 
3-Yr Sharpe Ratio0.12
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar US High Div Yld NR USD  Morningstar US High Div Yld NR USD
3-Yr Beta0.820.82
3-Yr Alpha-2.21-2.21
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 40668-
Market Capitalisation% of Equity
Giant13.55
Large44.96
Medium25.78
Small14.64
Micro1.08
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings14.480.85
Price/Book2.790.89
Price/Sales1.620.82
Price/Cash Flow9.970.84
Dividend-Yield Factor3.051.22
 
Long-Term Projected Earnings Growth6.610.73
Historical Earnings Growth57.579.68
Sales Growth3.730.60
Cash-Flow Growth2.120.63
Book-Value Growth5.650.87
 
Category: US Equity Income
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock95.020.0095.02
Bond0.000.000.00
Property0.000.000.00
Cash4.140.004.14
Other0.840.000.84
World Regions31/03/2025
 % of EquityRelative to Category
United States92.260.94
Canada1.342.02
Latin America0.000.00
United Kingdom3.289.96
Eurozone0.000.00
Europe - ex Euro3.126.28
Europe - Emerging0.00-
Africa0.00-
Middle East0.00-
Japan0.00-
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.00-
 
Category: US Equity Income
Sector Weightings31/03/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical4.320.52
Financial ServicesFinancial Services16.620.94
Real EstateReal Estate3.661.41
Consumer DefensiveConsumer Defensive11.621.34
HealthcareHealthcare13.441.06
UtilitiesUtilities9.101.60
Communication ServicesCommunication Services7.051.05
EnergyEnergy13.002.37
IndustrialsIndustrials2.580.26
TechnologyTechnology18.610.98
 
Category: US Equity Income
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings53
Total Number of Bond Holdings0
Assets in Top 10 Holdings33.34
NameSectorCountry% of Assets
Williams Companies Inc309United States4.23
Kinder Morgan Inc Class P309United States4.13
Oracle Corp311United States4.12
Unilever PLC ADR205United Kingdom3.11
Progressive Corp103United States3.05
PNC Financial Services Group Inc103United States3.03
The Kroger Co205United States3.00
Chubb Ltd103Switzerland2.97
American Tower Corp104United States2.96
Comcast Corp Class A308United States2.75
 
Increase Decrease New since last portfolio
Category: US Equity Income
 
Management
Name of CompanyAviva Investors UK Fund Services Limited
Phone+44 8000512003
Websitewww.avivainvestors.co.uk
Address80 Fenchurch Street
 London   EC3M 4AE
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date08/07/2011
Fund Advisor(s)
River Road Asset Management, LLC
Fund ManagerThomas Forsha
Manager Start Date08/07/2011
Career Start Year1998
Education
1998, Ohio State University, B.S.
2006, University of Chicago (Booth), M.B.A.
 
Biography
Mr. Forsha serves as a portfolio manager for River Road’s Dividend All-Cap Value portfolio. He previously served as a supervising portfolio manager for the firm’s Focused Absolute Value® portfolios. Mr. Forsha holds equity in the firm and serves as a non-voting member of the Executive Committee, River Road’s governing body. Prior to joining River Road in 2005, Mr. Forsha served as Equity Analyst and Portfolio Manager for ABN AMRO Asset Management USA, where he was responsible for management of the North American equity allocation.
Fund ManagerAndrew McIntosh
Manager Start Date01/10/2021
Career Start Year2003
Education
University of Iowa, B.B.A.
 
Biography
Mr. McIntosh serves as a portfolio manager for River Road’s Dividend All-Cap Value portfolio. Mr. McIntosh holds equity in the firm. Prior to joining River Road in 2011, Mr. McIntosh served as Structured Finance Analyst on a portfolio of subprime and second lien securities at AEGON USA Investment Management LLC.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.00%
Ongoing Charge1.00%
Purchase Details
Minimum Investments
Initial10000  GBP
Additional250  GBP
Savings-
Tax Free Savings Schemes
ISAsYes