Aviva Investors
The latest research and outlooks in the ProAllocate library
- Fixed Income
Security and transition: How energy is impacting sovereign debt
Aviva Investors' Joseph Arulefela argues energy security increasingly shapes sovereign debt risk, and investors must look beyond headline import-dependency data to local infrastructure, distributed solar and institutional responses to properly assess fiscal vulnerability.
- Macro
US midterm elections – snapshot reaction
Aviva Investors' Michael Grady argues the Democrats' midterm win leaves US fiscal policy largely unchanged given presidential veto power, with limited market impact expected. He remains bullish on US equities but bearish on US government bonds amid growth-driven inflation risks and Fed rate hikes.
- Sustainability
Natural capital comes of age: Part three: How nature markets will mature
Aviva Investors identifies five catalysts—regulation, revenue support, corporate demand, market infrastructure and technology—that transform nature-based assets into investable markets, drawing parallels with renewables, carbon and water markets.
- Portfolio Construction
The new realities of investing
Aviva Investors' Mark Versey, Daniel McHugh and Mirza Baig argue geopolitics, AI and energy transition require rethinking fixed-income benchmarks, abandoning traditional portfolio construction, and adopting more sophisticated, benchmark-aware climate strategies.
- Macro
UK budget – snapshot reaction: Gilt markets reassured, but tougher choices lie ahead
Aviva Investors' Vasileios Gkionakis says Chancellor John Healey's budget met fiscal rules and calmed gilt markets, but deferred tough spending decisions to next year's review. He expects UK gilts and sterling could modestly outperform near-term as rate-hike expectations look overdone.
- Equities
Multi-asset chart of the month for October: Semiconductor valuations surge on AI demand
Aviva Investors' Ama Blankson highlights that AI-driven demand has lifted the top ten semiconductor firms' market value over 680% since ChatGPT's late-2022 launch, with memory chipmakers posting roughly 250% revenue growth.
- Fixed Income
The transformation of money market funds
Aviva Investors' Nana Antwi argues money market funds are entering a technology-driven transformation, with digital distribution platforms and blockchain tokenisation reshaping access, settlement and operations despite persistent regulatory and infrastructure barriers.
- Sustainability
When climate ambition meets reality: What investors are learning about credible transition delivery
Aviva Investors' Climate Stewardship 2030 programme finds corporate transition strategies increasingly tested by capital discipline, technology constraints, energy demand and policy competitiveness, prompting firms to scale, adapt or retrench ambitions. The asset manager argues credibility now hinges on investable implementation, climate resilience and management accountability rather than stated targets alone.
- Sustainability
Global climate and nature conferences
Aviva Investors argues that climate and nature COPs in late 2026 remain crucial for investors despite difficult geopolitics, as they shape national policy frameworks that determine investment risks and opportunities. The firm sets out policy priorities for COP17 and COP31, urging governments to move from commitments to implementation.