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Aegon Master Trust investments

An expertly governed investment approach designed to meet diverse member needs and focused on delivering good member outcomes.

The Aegon Master Trust combines a diversified default strategy which invests across public and private markets, alongside a curated self‑select range of 28 funds, offering members a choice of asset classes and investment styles.

The default investment option

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Aegon LifePath Flexi is the default fund for the Aegon Master Trust, offering a ready‑made investment solution. It's a target-date fund which invests across public and private markets. The fund automatically adjusts, focusing on growth early on before moving to typically lower‑risk investments as retirement approaches. It considers environmental, social and governance (ESG) factors across most asset classes.

For members who like this approach, but who plan to buy an annuity or cash in savings at retirement, two alternative Aegon LifePath funds are available. 

Find out more about Aegon LifePath funds

Options beyond the default

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The Aegon Master Trust Fund Range has been carefully selected by the Aegon Master Trust Trustees with input from independent adviser, Isio, to help members build their own portfolios, while keeping choices manageable.

The focused range of 28 funds offers choice across different asset classes, world regions and investment styles and includes funds aligned with specific responsible investment themes and a Shariah-compliant option.

Explore the Aegon Master Trust Fund Range

Independent trustee expertise and investment governance

At the heart of the Aegon Master Trust is a board of independent trustees, bringing deep expertise in pensions, regulation, responsible investment and member engagement. Acting in members’ best interests, the trustee board ensures strong governance, transparency and value by:

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  • Considering evolving member needs and behaviours
  • Consulting on and approving enhancements to the investment offering
  • Maintaining a strong focus on costs and value
  • Consulting on investment communications

Oversight from the Trustees is complemented by Aegon’s robust fund governance framework, which provides ongoing monitoring, manager oversight and due diligence across the investment range. 

Supporting scheme members

We’re here to make investing feel simpler and more accessible. With engaging and jargon‑free support, we help scheme members feel confident about their choices, whether they’re just starting out, getting closer to retirement, or anywhere in between.

Find out more

There are 28 funds in the range as at 31 March 2026. There's no guarantee funds will meet their objectives. The value of investments can fall as well as rise and isn't guaranteed. The final value of a member's pension pot when they come to take benefits may be less than has been paid in.