Aviva / Mercer fund question

Pat38493

I have 2 separate pension pots, one with Aegon (actively contributing) and one with Aviva.

The Aviva one is Aviva Mercer Growth / balanced risk FP.

The Aegon one is MI Savings (H) ARC.

Both of these are the default funds that my employer originally selected.

Can anyone give me some hints to understand why the Aviva one seems to have lost a lot more than the Aegon one in the last few weeks?  I at first thought it must be partly in Gilts but the last factsheet I can find says that it is 0% in gilts, and the fund breakdown doesn't seem to be available on morningstar.

I'm not particularly concerned yet but I'm curious as the 5 year graph that looks pretty similar for those funds, seems to have diverged significantly at the very end (last month or so).

Pat38493

To partially answer my own question, both my funds went up a lot yesterday so maybe it's a difference in the timing of when they update the numbers.  Other than that I am not sure.

Linton

The Aegon fund is about 60%-70% equity according to the FT website

The AViva fund data does not specifiy the allocations but according to the "Objective" it is 75% government and corporate bonds and 25% money market funds but I am not convinced the performance data is what one might expect from such an allocation

Pat38493

Linton said:

The Aegon fund is about 60%-70% equity according to the FT website

The AViva fund data does not specifiy the allocations but according to the "Objective" it is 75% government and corporate bonds and 25% money market funds but I am not convinced the performance data is what one might expect from such an allocation

Looking further, I don't think that's the correct fund, but I cannot find the correct one on neither Morningstar or FT.  I have the factsheet but the description of the fund online doesn't correspond at all to the fact sheet.

The fund factsheeet that I can download directly from the Aviva website after logging in says:

Mercer Growth / Balanced Risk FP

This is a moderate to higher risk fund designed by Mercer Limited aiming to provide moderate to high levels of long-term capital growth. It invests in one or

more underlying funds to produce a portfolio with around two thirds or more invested in UK and overseas shares, a significant holding in government and

corporate bonds and the rest spread across other asset types giving exposure to commodities, property and money market instruments. Investors in this

fund will be automatically moved into the appropriate Mercer Target Retirement Fund when they are 8 calendar years from the year of their selected

retirement date. Depending on the chosen retirement destination, the Mercer Target Retirement Fund aims to gradually reduce exposure to investment risk by

investing in lower growth assets. Derivatives may be used for investment purposes as well as risk reduction. These are selected and reviewed by the

investment adviser, Mercer Limited, and may change.



EDIT:
Actually there is now a new factsheet May 2023 I just downloaded:


Which then wonders - why are they 25% in cash if the fund description says something different?

dunstonh

Some of the Aviva/mercer pensions I have seen in the past have used software to combine multiple Aviva funds in different blends.   With those ones, you won't find fund performance of the software mix but need to look at the underlying funds.