Introduced in 1984, the Stewardship Funds have a proud heritage as the UK’s first ethical Fund Range. They have been managed by our dedicated asset manager Aviva Investors since 2018. The philosophy behind the Funds has always been, and remains, to guide capital allocation responsibly, and therefore to exclude or to include a company in the Funds based on what the company does and how it does it.
The Stewardship Funds, which are actively managed, exclude businesses and sectors that could be deemed harmful to the world and its people. The Funds also invest in businesses which show that they are contributing to one or more of our sustainability pillars - Climate, Earth and People.
These pillars and themes reflect what we believe to be the most important sustainability issues of our time and are rooted in the UN's 17 Sustainable Development Goals (SDGs). They provide a global view of the world’s most pressing challenges and what “sustainable” investment activity looks like.
We believe this approach demonstrates that investing in companies with sustainable business practices, which contribute to a more sustainable world, is just as important as excluding harmful companies from the Funds. Read more about the UN's SDGs here.
Customers can access UK and international equities, fixed interest, or a blend of equities and fixed interest via the Stewardship Fund range. There are five funds in the Stewardship range:
- Stewardship International Equity Fund
- Stewardship Bond Fund
- Stewardship Managed Fund
- Stewardship UK Equity Fund
- Stewardship UK Equity Income Fund.
Factsheets for the funds are available at: Aviva fund centre.
We also provide the Stewardship default strategy, which was launched in July 2019 to enable customers to invest in the Stewardship Funds throughout their retirement journey.
We want our customers to be confident that regardless of where they are in the retirement journey – at the very beginning or near the end – their money is helping to make a positive difference and helping to create a more sustainable future, alongside delivering a return. The Aviva Investors' Public Markets ESG team and the Sustainble Investment team work with the Funds' Portfolio Managers. Please see details about the Stewardship team below.
The Stewardship default strategy uses the Stewardship International Equity, Stewardship Managed and Stewardship Bond Funds from when investors join the pension scheme to when members reach their selected retirement date. Find out more about Stewardship default strategy and the Stewardship funds here.
A dedicated Sustainable Investment team
We have a dedicated Sustainable Investing function of more than 50 sustainability experts.
Specifically within the function, the Sustainable Investment team plays a key role in the Stewardship funds. They work collaboratively across Aviva Investors and share their research and analysis with the Portfolio Managers. The analysts within the Sustainable Investment team cover three core pillars of the Stewardship approach – earth, climate and people.
The ESG Public Markets team also sits within the wider function and manages ESG risks in the investment process as well as engagement.
Working with businesses and other stakeholders
As well as using our voice as a shareholder to vote for change at company meetings, we also engage with businesses on thematic issues, such as climate change. We engage with companies to encourage them to enact the best possible sustainability practices. When engaging, we will expect to see a clear timeline for progress and outcomes. Our key priorities when engaging with businesses are the cost of living crisis, transitioning to a low carbon economy and reversing nature loss.
We will also work with other stakeholders, including governments, other asset managers and charities.
Read more about how we have engaged with businesses in the Stewardship Fund annual report.
While we are working towards our sustainability ambitions, we recognise that while we have control over Aviva's operations and influence on our supply chain, when it comes to decarbonising the economy in which we operate and invest, Aviva is one part of a far larger global ecosystem. There are also limits to our ability to influence other organisations and governments. Nevertheless, we remain focused on the task and are committed to playing our part in the collective effort to enable the global transition. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability.
Aviva’s history as a Sustainable Investor
Timeline accessible version
Meet our people
Sustainable Investment team
The Sustainable Investment team provides research and insight to help inform our investment decision-making.
Sam Tripuraneni
Head of Sustainable Outcomes
Ivelina Stefanova
Sustainable Investment Analyst – Earth Pillar
Luisa Jobson
Sustainable Investment Analyst – Climate Pillar
Prince Marapao-Gittings
Sustainable Investment Analyst – People Pillar
Stewardship Investment team
Trevor Green
Head of UK Equities – Portfolio Manager - Stewardship UK Equity Fund and Stewardship UK Equity Income Fund
Charlotte Meyrick
Co-Portfolio Manager - Stewardship UK Equity Fund and Stewardship UK Equity Income Fund
Edward Kevis
Portfolio Manager - Stewardship International Equity Fund
Jonathan Toub
Co-Portfolio Manager - Stewardship International Equity Fund
Thomas Chinery
Senior Portfolio Manager – Stewardship Bond Fund
Elmarie Matheou
Co-Portfolio Manager – Stewardship Bond Fund
Useful documents
Articles and publications
Sustainable investing trade-offs
In this article, Mirza Baig, Chief Sustainable Investment Officer at Aviva Investors, explores the nuances between sustainable investment and investment performance. As Mirza says, trade-offs are a part of life and that trade-offs, as long as they are understood, need not be inherently negative.
Ten threats to marine ecosystems
This article talks about the risk to the ecosystem from human actions.
Boosting low-carbon investment in the UK: A Policy Roadmap
In this article, Nick Molho, Head of Climate Policy at Aviva Investors sets out the fund manager's in-depth Roadmap for the UK's journey to a low-carbon economy.