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Page 1 of 2
NON - UCITS RETAIL SCHEME
KEY INVESTOR INFORMATION
This document provides you with key investor information about this Fund. It is not marketing material. The information is re quired by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. AI Stewardship International Equity Fund, UK Corporate Accumulation Units, a sub - fund of the Aviva Investors Funds ACS (AIF ACS) (ISIN: GB00BKBQCS86). This fund is managed by Aviva Investors UK Fund Services Limited. OBJECTIVES AND INVESTMENT POLICY
Investment Objectives : The Sub - Fund aims, through the responsible allocation of capital, to grow your investment and provide an average annual net return greater than the MSCI® World NDR Total Return GBP Index over a rolling 5 year period through investmen t in shares of global companies. At least 85% of the Sub - Fund’s investments (the “ minimum stewardship allocation ”) must contribute to one of three pillars through their products and services or through their operations: • Climate - for example, tackling the causes or impacts of climate change; • Earth - for example, tackling increasing biodiversity loss and resource scarcity; • People - for example, tackling social inequality and unfair working practices. Investment Policy Core investment : At least 85% of the Sub - Fund will be invested in shares of global companies (including emerging markets). Other investments: The Sub - Fund may also invest in other funds, derivatives, cash and deposits. Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be difficult or costly to achieve, or to manage the Sub - Fund’s cash f lows in a cost - effective manner. Derivatives may also be used to reduce risk, such as foreign currency risk within the Sub Fund. Exclusions : The Sub - Fund is subject to two sets of screens, the Aviva Investors baseline exclusion policy and the stewardship exclusions, which exclude companies that do not meet certain ethical, social and environmental standards, so that the Sub - Fund does not invest in companies that the Investment Manager regards as incompatible with the three pillars of Climate, People and Ea rth. The purpose of these screens is to ensure that the Sub - Fund does not invest in companies that derive prescribed levels of revenue, or have significant reserves from a range of activities - please see Appendices 2 and 3 of the Prospectus for informatio n on these investment restrictions If there are any differences between the baseline exclusion policy and the stewardship exclusions, the more restrictive exclusions will apply. As these screens only exclude shares issued by companies. Investment Strategy and Asset Selection : The Sub - Fund is actively managed, selecting investments aligned to the Sub - Fund’s growth aims and in - line with the Sub - Fund’s Sustainability Strategy (see below). The Investment Manager aims through the responsible allocation of capit al (stewardship) to encourage companies to improve environmental and/or social outcomes through their products and services, and/or through their operations.
The Investment Manager has the discretion to build a diverse portfolio of companies of any size, at any stage of the business cycle and across different industry sectors with an emphasis on risk management within the Sub - Fund. Once any excluded companies have been removed from the available investment universe (see above), the Sub - Fund must invest in its minimum stewardship allocation. To be eligible for investment, the company must meet the Fund’s qualifying criteria through either the company’s:
Products and Services - consideration will be given to the revenue a company generates from products and services that are linked to investment themes that fall under one or more of the three pillars. Operations – consideration is given to the sustainability practices of a company’s operations. The Investment Manager may look at a range of factors to assess a company’s operations against investment themes linked to the three pillars and performance compared to peers. Performance & Risk Strategy: The Sub - Fund's performance is measured against the MSCI® World NDR Total Return GBP Index (the “Index”).
The Sub - Fund does not base its investment process upon the Index and also applies specific exclusion, and the minimum stewardship allocation requirement that do not apply to the Index. Therefore, the Sub - Fund will not hold every company in the Index and ma y also hold companies that do not form part of it.
The Sub - Fund uses a “tracking error” to measure the consistency of the Sub Fund's returns and the returns of the Index. In general, the lower the tracking error, the more consistent the Sub - Fund's returns are relative to the Index, and vice - versa. The Sub - Fund is expected to have an average yearly tracking error of between 2% and 6% when compared to the Index. In certain conditions the Sub - Fund may be outside of this range.
The Index represents the perfor mance of large and medium sized companies across developed markets covering 85% of the market capitalisation (total market value of a company's outstanding shares) in these countries.
The Index has been selected as a benchmark for performance and risk mea surement because it is representative of the type of companies in which the Sub - Fund is likely to invest, although investors should be aware that due to the Sub - Fund's specific exclusions the Index is not an accurate representation of all of the companies available to the Sub - Fund. It is, however, an appropriate measure for the Sub - Fund's performance. Note: MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. Th e MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This KIID is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. This is an accumulation unit class and any income from the Fund will remain in the Fund and reflected in the unit price. You can buy or s ell units in this fund on any working day. We need to receive your instruction before 14:00pm UK time. If you contact us after that time, we will buy or sell units for you at the next working day's price. Recommendation: this fund may not be appropriate fo r investors who plan to withdraw their money within 5 years. For full investment objectives and policy details please refer to the Prospectus.
RISK AND REWARD PROFILE
1 2 3 4 5 6 7
Lower risk Higher risk Typically lower rewards Typically higher rewards This indicator is based on historical data, calculated using European Union rules, and may not be a reliable indication of the future risk profile of the Fund. The risk and reward category shown is not guaranteed to remain unchanged and may change over tim e. The lowest category does not mean 'risk free'. The value of investments and the income from them will change over time. The Fund price may fall or rise and you may not get back the original amount invested. The Fund has been allocated a risk number base d on the historic volatility of its share price or where insufficient information is available the risk number is calculated on a simulated basis, based on the historic volatility of appropriate asset classes. Currency risk: Changes in currency exchange ra tes could reduce investment gains or increase investment losses. Exchange rates can change rapidly, significantly and unpredictably.
Derivatives risk: Derivatives are instruments that can be complex and highly volatile, have some degree of unpredictability (especially in unusual market conditions), and can create losses significantly greater than the cost of the derivative itself. Equities risk: Equities can lose value rapidly, and can remain at low prices indefinitely and generally involve higher risks - e specially market risk - than bonds or money market instruments. Bankruptcy or other financial restructuring, can cause the issuers equities to lose most or all of their value. ESG risk: ESG criteria may limit investment choices and performance may not align with funds with a broader policy. Target outcome risk: Any outcomes stated as targets are not guaranteed and may not be achieved. Emerging markets risk: Compared to developed markets, emerging markets can have greater political instability and limited in vestor rights and freedoms, and their securities can carry higher equity, market, liquidity, credit and currency risk. Hedging risk: Any measures taken to offset specific risks will generate costs (which reduce performance), could work imperfectly or not a t all, and if they do work will reduce opportunities for gain. Full information on the risks applicable to the Fund is detailed in the P rospectus.
Page 2
Page 2 of 2 This key investor information is accurate as at 06/02/2026
One - off charges taken before or after you invest Entry charge None Exit charge None Charges taken from the Fund over a year Ongoing charges 0.02% Charges taken from the Fund under certain specific conditions Performance fee none This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. The charges you pay contribute to the costs of running the fund, including the cost of distributing it, reducing the potential growth of your investment.You can find out the actual entry and exit charge from your financial adviser or distributor.
Certain charges are deducted from the capital of the Fund. The ongoing charges figure is based on last year's expenses for the year ending November 2025. The figure for ongoing charges excludes performance fees and portfolio transaction costs, except in th e case of an entry/exit charge paid by the Fund when buying or selling units in another collective investment undertaking. For more information about charges, please refer to the charges section in the Prospectus.
PAST PERFORMANCE
Unit Class MSCI World GBP TR Net Dividend Reinvested
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 17.5 19.3 - 11.3 12.0 10.5 7.6 12.3 22.9 - 7.8 16.8 20.8 13.2 17.50 19.34 -129 -1.29 12.0 10.45 7.5
Past performance is not indicative of future performance. It cannot provide a guarantee of returns that you will receive in the future. The fund was launched in April 2015 and issued UK Corporate Accumulation Units in November 2019. Prior to 7 April 2025 this Sub - Fund was called AI Sustainable Stewardship International Equity Fund. Source: Aviva Investors/Morningstar as at 31 December 2025. Past performance is calculated in GB Pounds. Units are priced in GB Pounds, the fund's base currency. The value of yo ur investment and income from it may go down as well as up and you may not get back the amount you invested. All fees and charges are included in the performance calculation.
PRACTICAL INFORMATION
This document is specific to the Fund and unit class stated at the beginning of this document. The Fund is a Sub - fund of the Aviva Investors Funds ACS (AIF ACS), an umbrella structure comprising different Sub - funds and taking the f orm of a co - ownership scheme. As a consequence of this, the Fund may be treated as tax transparent for the purpose of income and /or gains by relevant taxing jurisdictions. The Prospectus and the annual and half - yearly reports are prepared for the umbrella . The Fund is a non - UCITs retail scheme. This NURS - KII document is specific to this unit class. NURS - KII documents will be available for other unit classes within this Fund where they exist. The Fund's current unit price is calculated on each working day a nd is published daily on our website. The Depositary of the Fund is HSBC Bank plc. It has delegated the function of Custodian of the Fund to HSBC Bank plc. Investors should note that the tax legislation that applies to the Fund may have an impact on the pe rsonal tax position of your investment in the Fund. The Fund is a Sub - fund of AIF ACS, an umbrella structure comprising different Sub - funds.
The assets of the Fund are beneficially owned by the unitholders in the Fund as tenants in common and must not be u sed to discharge any liabilities, or meet any claims against, any person other than the unitholders in the Fund. Further information about the Fund including other unit classes and dealing can be found in the Prospectus, available in English, and also in t he latest annual and half - yearly Report and Accounts (English only) which are available free of charge from our website, www.avivainvestors.com. The details of the up - to - date remuneration policy of the Management Company, including the composition of its r emuneration committee, a description of the key remuneration elements and an overview of how remuneration is determined, are available on the website www.avivainvestors.com. A paper copy of the remuneration policy can be made available upon request and fre e of charge at the Management Company's registered office.
This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Aviva Investors UK Fund Services Limited is authorised in the United Kingdo m and regulated by the Financial Conduct Authority. AI Stewardship International Equity Fund
-15
-10
-5
0
5
10
%
15
20
25
1
Return %
CHARGES
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