Creating my own All-World Tracker with AVIVA

Gerbert

My pension has recently been transferred to AVIVA, and I now have more control over how it is invested than I did before.  Ideally I would like to invest all of it in an all-world tracker based on something like the MSCI ACWI, which according to https://www.justetf.com/uk/how-to/msci-acwi-etfs.html is a combination of the MSCI World Index and the MSCI Emerging Markets Index in approximately 90%:10% proportions.

It seems AVIVA do not offer a dedicated tracker for the MSCI ACWI, but they do offer two so-called Aviva Pension MyM funds which afaics are meant to track the two components detailed above, namely

(1) BlackRock MSCI World Index (non Hedged), tracking MSCI World   GB00BNBNW244  (https://www.fundslibrary.co.uk/fundslibrary.dataretrieval/documents.aspx/?user=IPAPX/P78LEFGpbdmWqMDIm0dRQaAqJfG/ysg3y3u08=&type=packet_lp_fund_unit_doc_factsheet&citicode=QQ4Z)

(2) BlackRock Emerging Markets Equity (Aquila C), tracking MSCI Emerging Markets   GB00B658GJ14

(https://www.fundslibrary.co.uk/fundslibrary.dataretrieval/documents.aspx/?user=jFyTSUBMeb11ZdJKc6fGAZdNY3ucd3PcFRh6+FLZGjE=&type=packet_lp_fund_unit_doc_factsheet&citicode=0LUL)

My question is: am I right to assume that I can construct my own MSCI ACWI tracker by investing 90% of my portfolio in (1) and 10% in (2) above?  Everything I have read in the factsheets seems to point this way, but I may have missed something.  Have I?

A subsidiary question: examination of the performance graphs for the last 5 years in the above factsheets suggests the first of these funds tracks its (MSCI World) benchmark pretty tightly, while the second tends to consistently underperform its benchmark by 2%-5%   Should I be concerned about this: does it suggest the second fund is not doing its job properly? (The graphs also show something called ABI Global [Emerging Markets] Equities shown on the graphs: I have no idea what these are or why they are there.  Does anyone know?).

Linton

ABI is the Association of British Insurers.  They classify pension funds into categories.  Your graph is comparing the fund with the average of all pension funds in the same category.

I dont know why the Aviva fund should underperform its benchmark by 2-5%/year.  It simply invests almost all its money  (100.1%) in an iShares ETF (iShares Emerging Markets Flex Acc) which documents its returns as being extremely close to the same benchmark. Published costs dont seem to be a particular issue.

Gerbert

I dont know why the Aviva fund should underperform its benchmark by 2-5%/year.  

Actually looking again at the graph it's not that it lags by 2%-5% each year.  It seems to have fallen behind in the first 2-3 weeks of the period shown, and then never caught up again.  That's odd, but maybe the underperformance was a temporary blip almost exactly 5 years ago.  Maybe next month it will look a bit different.