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Page 1 of 2
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. Aviva Investors US Equity Income Fund I, Class 5, Income shares, USD, a sub - fund of the Aviva Investors Investment Funds ICVC (ISIN: GB00BR4NDP99). The Fund is managed by Aviva Investors UK Fund Services Li mited. OBJECTIVES AND INVESTMENT POLICY
Objective: The Fund aims to deliver income of at least 125% of the income of the Russell® 3000 Value Index (the “Index”) over any given 12 - month period whilst also aiming to grow your investment by providing a combined return of income and growth greater than that o f the Index over any given 5 year period, by investing in shares of companies listed on North American stock exchanges. Due to the Fund’s primary income objective, the Fund’s overall performance may deviate from that of the Index. Focussing on income gener ation may limit capital growth opportunities. The Fund’s returns are not guaranteed over any time period and capital is in fact at risk. Both the income and combined return aims are measured before the deduction of Fund charges and tax. Core investment: A t least 80% of the Fund will be invested in shares of companies listed on North American stock exchanges. Other investments: The Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies) and deposits. Derivati ves, such as futures, may be used from time to time to gain a particular market exposure. Derivatives may also be used to reduce risk within the Fund. This type of derivative usage is called “efficient portfolio management”. Strategy: The Fund is actively managed, and the Investment Manager will look to identify quality companies, which engage strongly with their shareholders, and which the Investment Manager believes will pay a high and growing dividend. The process for making these decisions will entail c areful analysis of each company's business model, balance sheet, dividend prospects and valuation, with a view to discovering undervalued companies that demonstrate characteristics which would allow them to generate sustainable future growth. The investmen t philosophy, known as “Absolute Value®”*, supports high conviction investment, typically in companies with a minimum market capitalisation (total market value of a company's outstanding shares) of
$ p(py
$700m at the time of investment. The Fund is subject to Av iva Investors’ baseline exclusion policy – please see Appendix 2 of the Prospectus for information on these limited investment restrictions. Performance & Risk Measurement: The Fund's combined growth and income targets are measured against the Russell® 300 0 Value Index (the “Index”). The Fund does not base its investment process upon the Index, so will not hold every company in the Index and will also hold companies that
do not form part of it. The Fund uses a “tracking error” to measure the consistency of the Fund's returns and the returns of the Index. In general, the lower the tracking error, the more consistent the Fund's returns are relative to the Index, and vice - versa. The Fund is expected to have an average yearly tracking error of between 2% and 6% when compared to the Index. In certain conditions the Fund may be outside of this range. The Index is a subset of the Russell® 3000 Index, which contains a range of U.S. companies. The companies included in the “value” Index are selected based on a "probab ility" of each company’s value increasing in the future. The Index has been selected as a benchmark for the performance targets and risk measurement as the Fund's portfolio will be constructed by investing in companies which demonstrate similar value chara cteristics, and it is therefore an appropriate basis for the Fund's income and capital performance aims. *The following mark is owned, and federally registered in the United States, by River Road Asset Management, LLC: ABSOLUTE VALUE® (U. S. Registration N o. 4,753,652). Note: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2021. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE Russell®” is a trade mark(s) of the relevant LSE Group companies and is used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for a ny errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. Th e LSE Group does not promote, sponsor or endorse the content of this communication. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Other information: You can buy and sell shares on any London business day. This is an income share class and any distributions from the Fund will be paid to you. 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 Fu nd. The risk and reward category shown is not guaranteed to remain unchanged and may change over time. 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 as well a s rise and as a result you may not get back the original amount you invested. The Fund has been allocated a risk number based on the historic volatility of its share price or where insufficient information is available appropriate asset classes. Counterpar ty risk: The Fund could lose money if an entity with which it does business becomes unwilling or is unable to meet its obligations to the Fund. Currency risk: Changes in currency exchange rates 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 losse s significantly greater than the cost of the derivative itself. Equities Risk: Equities can lose value rapidly, can remain at low prices indefinitely, and generally involve higher risks — especially market risk — than bonds or money market instruments. Ban kruptcy or other financial restructuring can cause the issuer's equities to lose most or all of their value.
Market risk: Prices of many securities (including bonds, equities and derivatives) change continuously, and can at times fall rapidly and unpredic tably. Hedging risk: Any measures taken to offset specific risks will generate costs (which reduce performance), could work imperfectly or not at all, and if they do work will reduce opportunities for gain. Illiquid securities risk: Certain assets held in the Fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile. Sustainability Risk: This risk is any environmental social or governance event or condition that could impact the value of investments. The Investment Manager primarily relies on its in - house ESG analysis and climate risk indicators to categorise the potential level of Sustai nability risks in each sub▫fund. The level of sustainability risk may fluctuate depending on which investment opportunities the Investment Manager identifies. This means significantly and unpredictably. Stock Connect risk: The Fund may be investing in Chin a A - Shares via the Shanghai - Hong Kong Stock Connect and the Shenzhen - Hong Kong Stock Connect which may entail additional clearing and settlement, regulatory, operational and counterparty risks. Operational risk: Human error or process/system failures, inte rnally or at our service providers, could create losses for the Fund. Target outcome risk: Any outcomes stated as targets are not guaranteed and may not be achieved. Income Risk: The investment objective of a Fund is to generate income, at times this may limit opportunities for capital growth. Full information o n the risks applicable to the Fund is detailed in the Prospectus.
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 0.55% Charges taken from the Fund under certain specific conditions Performance fee None The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment.
The entry and exit charges shown are the maximum that might be taken o ut of your money before it is invested / before the proceeds of your investment are paid out. The ongoing charges figure is estimated to reflect a more current indication of expected charges. The figure for ongoing charges excludes performance fees and por tfolio transaction costs, except in the 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 see the charges sections of the Fund's Prospectus.
PAST PERFORMANCE
Aviva Investors US Equity Income Fund I 5 - USD
Russell 3000 Value TR USD
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 - 7.5 22.7 - 0.2 21.9 - 4.6 2.1 18.2 7.6 - 8.6 26.3 2.9 25.4 - 8.0 11.7 14.0 15.7 -750 -7.50 2.70 -02 -0.2 21.90 -460 -4.60 2.1 18.2 7.60
Past performance is no guide to future performance. The past performance shown in the chart opposite takes into account all charges except entry charges. The Share Class was launched on 25 April 2025. Performance is calculated in the Share Class currency which is USD. Source: Aviva Investors/Morningstar as at 31 December 2024. The Aviva Investors US Equity Income Income Fund I merged with the Aviva Investors US Equity Income Fund and the Aviva Investors US Equity Income Fund II on the 25th April 2025. Past Performance prior to this date is shown for the Aviva Investors US Equity Income Fund II share class 5 Inc. Source: Aviva Investors/Morningstar as at 31 December 2025.
PRACTICAL INFORMATION
Depositary - J.P. Morgan Europe Limited. More practical information about the Fund and copies of the Prospectus and the latest annual and half yearly reports are available free of charge from Aviva Investors UK Fund Services Limite d PO Box 10410, Chelmsford, CM99 2AY. These documents will be in English and cover the whole ICVC. The latest published price of shares in the Fund and other information on the Fund, including how to buy and sell shares, is also available at www.avivainves tors.co.uk. Shares other than Class 5 are offered by the Fund, as set out in the Prospectus. You may switch between funds in the Aviva Investors Investments Funds ICVC. Details on switching are provided in the Prospectus. The Fund is subject to the tax law s and regulations of the United Kingdom. Depending on your own country of residence, this might have an impact on your investment.
The liabilities of the Fund are segregated and the assets of this Fund will not be used to pay debts of other funds. Aviva In vestors UK Fund Services Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. The details of the up - to - date remuner ation policy of the Management Company, including the composition of its remuneration 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 free of charge at the Management Company's registered office.
The sub - fund launched on 25 April 2025, is authorised in the United Kingdom and regulated by The Financial Conduct Authority. Aviva Investors UK Fund Services Limited is authorised in the United Kingdom and regulated by The Financial Conduct Authority .
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"text": "Prospectus."
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"text": "RISK AND REWARD PROFILE"
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"text": "Lower risk"
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"text": "Higher risk"
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"text": "Typically lower rewards"
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"text": "Typically higher rewards"
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"text": "This indicator is based on historical data, calculated using European Union"
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"text": "rules, and may not be a reliable indication of the future risk profile of the"
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"text": "nd."
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"text": "The risk and reward category shown is not guaranteed to remain unchanged"
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"text": "and may change over time. The lowest category does not mean \u0027risk free\u0027."
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"text": "The value of investments and the income from them will change over time."
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"text": "The Fund price may fall as well a"
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"text": "s rise and as a result you may not get back"
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"id": "f9046578-a2e4-4dc3-a89d-a2c23c7cbba7",
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"text": "the original amount you invested."
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"text": "The Fund has been allocated a risk number based on the historic volatility of"
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"id": "c0bd632c-0b1f-429d-a7c7-a04abbe3823e",
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"text": "its share price or where insufficient information is available appropriate asset"
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"text": "classes."
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"text": "Counterpar"
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"text": "ty risk:"
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"id": "1507a034-088c-47ed-9e6e-9d2c9be13a78",
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"text": "The Fund could lose money if an entity with which it does"
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"text": "business becomes unwilling or is unable to meet its obligations to the Fund."
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"text": "Currency risk:"
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"text": "Changes in currency exchange rates could reduce investment"
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"text": "gains or increase investment losses."
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"text": "significantly and unpredictably."
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"text": "Derivatives risk:"
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"text": "Derivatives are instruments that can be complex and highly"
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"text": "volatile, have some degree of unpredictability (especially in unusual market"
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...