Our governance structure

The MIC is ultimately responsible for:

• selecting new funds to include in our range
• monitoring existing funds, including those that make up our multi-manager funds
• monitoring fund managers and fund management houses
• removing funds or fund managers from our offering

The MIC is made up of key members of the AEGON Executive, supported by various sub-committees and independent consultants Mercer and Morningstar OBSR. 

The IAC is made up of high-level members of the AEGON Executive and representatives from independent consultants, Morningstar OBSR and Mercer and has responsibility for the development and continuing integrity of our fund offering. It’s responsible specifically for the day-to-day selecting and monitoring of the funds and making recommendations to the MIC for approval.

The IAC will:

• make recommendations to the MIC on our overall investment strategy
• agree proposals for changes to the Guidance, Corporate Governed and Select ranges and submit these to the MIC for approval
• consider the performance of all funds in the Guidance Range and initiate any investigations needed
• consider the performance of all funds in our Full Fund Range where issues concerning their objectives arise

The IAC meets face-to-face on a quarterly basis. In addition, there are monthly IAC conference calls to discuss issues that arise between full meetings. The minutes, which we publish each quarter, contain details of discussions and decisions taken at the IAC quarterly meetings, along with any updates from previous monthly IAC conference calls

• Quarter one 2012 minutes
• Quarter four 2011 minutes
• Quarter three 2011 minutes
• Quarter two 2011 minutes

We’ll publish any actions arising from the minutes in the Fund updates section.