AIA is a Delaware limited liability company and the United States member of a group of internationally
affiliated investment advisers collectively referred to as “Aviva Investors”. AIA has been registered with the
SEC since 2012.
AIA is a wholly owned, direct subsidiary of Aviva Investors North America Holdings Inc., which is a wholly
owned subsidiary of Aviva Investors Holdings Ltd, which in turn, is a subsidiary of Aviva plc, a publicly traded
financial services company headquartered in the United Kingdom. AIA provides investment advisory
services to institutional clients, serves as a sub-adviser to certain foreign affiliated and domestic non-
affiliated registered investment funds. Unless the context otherwise requires, references to “we,” “us,” “our,”
and “the Firm” refer to AIA. “Aviva” refers to Aviva plc as a group, including its insurance business.
AIA provides a wide array of discretionary fixed income and alternative income investment management
services as follows:
Separately managed institutional account advisory services are provided under the terms of an advisory
agreement between AIA and its clients. AIA permits customization of an account’s guidelines to meet the
particular needs of its clients, as long as the Firm believes such customization will not unduly hamper its
ability to execute the investment strategy. Generally, clients establish their own investment guidelines and
restrictions for their accounts, although AIA maintains standard guidelines for a number of strategies that
may be used without modification by clients.
AIA also provides sub-advisory services to other investment funds and clients (“Underlying Portfolios”)
that are established and primarily managed by affiliated non-U.S. investment advisers, referred to as the
“Affiliated Adviser Clients”. These non-U.S. investment advisers are registered and regulated under the
laws of various foreign countries, including, but not limited to, Luxembourg and the United Kingdom. AIA
provides such investment advisory services to the Affiliated Adviser Clients for the benefit of Underlying
Portfolios which include non-U.S. investment companies marketed to non-U.S. retail and institutional
investors (and which are not marketed to, nor generally available for investment by U.S. investors without
an applicable exemption
from registration.). AIA also has several appointments as investment adviser to
insurance companies that are part of the Aviva group.
AIA is a sub-adviser to an unaffiliated investment company registered under the Investment Company Act
of 1940, as amended, a multi-manager fund (“Mutual Fund”).
Lastly, AIA also provides from time to time, non-discretionary investment advice on assets such as
infrastructure debt, real estate and private corporate debt. Any client of such services is solely responsible
for the execution of any investment recommendation.
In performing its advisory services, AIA utilizes select investment professionals and traders of certain of its
non-U.S. affiliates to advise a particular investment strategy or product. In keeping with applicable regulatory
guidance, each such affiliate has entered into a memorandum of understanding with AIA through which the
affiliate is considered a "Participating Affiliate" of AIA as that term is used in relief granted by the staff of
the SEC. This arrangement (“Participating Affiliate Agreement” or “PAA”) allows AIA to use the resources
and professional expertise of its non-U.S. affiliates to render portfolio management, research, or trading
services to U.S. clients of AIA. In the future, AIA may use its Participating Affiliates to advise on other
investment strategies.
In partnering with overseas affiliates, AIA offers management and related services to U.S. clients provided
by the investment management personnel associated with Participating Affiliates, who may be viewed as
best positioned to provide the expertise required to manage a particular strategy or product. Investment
professionals of a Participating Affiliate may render substantially similar portfolio management research or
trading services to their own advisory clients and the performance achieved may be better or worse than
that achieved on behalf of AIA clients. AIA and each of its investment advisory affiliates, including
Participating Affiliates, are subsidiaries of Aviva.
AIA does not sponsor or participate in any “wrap-fee” programs or manage any model portfolios.
As of December 31, 2023, AIA’s total assets under management were approximately $18.6 billion, on a
discretionary basis and $13.0 million on a non-discretionary basis.