Aviva has launched its new default pension investment strategy, My Future Vision, highlighting this as the start of a "new chapter" in private market investing in defined contribution (DC) defaults.

The strategy, which will be available to Aviva’s trust-based schemes from 1 October 2025,
allocates a "meaningful" 20-25 per cent of assets to global private markets depending on where a saver is in their journey to retirement, and will invest in private equity, infrastructure, real estate, and private debt.

Aviva has used the expertise of Aviva Investors to help provide access to these private markets, as well as partnering with a selected group of specialist global asset managers: Neuberger, StepStone Group, KKR, Invesco, and Apollo Global Management.

The group said that this collaborative approach is expected to ensure that savers benefit from deep sector knowledge and best-in-class investment capabilities.

Aviva plans to roll the offering out more widely in time, running alongside Aviva's existing core default range and builds on the success of My Future and My Future Focus.

The group suggested that the key differentiator in the new strategy is the implementation of the private markets allocation, as it explained that, 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 is intended to enable for flexible, stage-appropriate allocations – which means the underlying private markets allocation can be tailored depending on the different risks members face.

Aviva director of investments, Maiyuresh Rajah, 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.”

Adding to this, Aviva Investors CEO, Mark Versey, said: “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 whilst 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.”

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