Annual review of fund expenses 2016

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Once a year we carry out a review of the additional disclosable charges for all our funds, in accordance with our regulatory commitments. The review looks at all expenses/fees that were incurred by the underlying fund throughout the previous year and that are expected going forward, and then compares this with what we are currently disclosing for the fund. 

As a result the disclosable charges for a number of our funds are changing.

Why are they changing?

We have an obligation to disclose these additional charges/expenses as part of our commitment to be fair, clear and not misleading. Therefore, if there’s a significant difference (after rounding to the nearest 0.05%) between what we’re currently disclosing and the actual fund expenses, we change what we disclose to you – either up or down depending on whether we’re currently under- or over- disclosing. 

In this way we hope to disclose as accurate and up-to-date a figure as possible, although the figures are just an estimate. It covers fund expenses only and is therefore quite separate from Aegon’s product charges. Aegon has no control over these charges, except where they refer to a portfolio that we have created for our customers (for example, funds in the Select and Core ranges). They are a reflection of the cost of running the underlying fund. 

What are additional fund charges/expenses?

Additional yearly fund charges/expenses are the costs associated with the administration and management of the underlying assets of the funds, for example bank charges and safe custody fees. These are in addition to the annual management charge (AMC) and, together with the AMC, form part of the total expenses. 

Is my fund charge changing? 

The charges for a number of funds are changing. This affects the following Aegon fund ranges:

To find out if your fund(s) are affected, click on the appropriate links below:

Scottish Equitable (SE) ARC fund Fund charge before 22 April 2016 (%) Fund charge from 22 April 2016 (%) Difference +/−
Aegon Investec Emerging Markets Local Currency Debt 0.95 0.90 -0.05
Aegon Mercer Passive Overseas Equity Hedged 0.11 0.10 -0.01
Aegon Schroder QEP Global Core 0.40 0.35 -0.05
Aegon Stability Fund 0.87 0.82 -0.05
SE Aberdeen Asia Pacific Equity 0.85 0.95 0.10
SE Aberdeen Emerging Markets Equity 0.95 1.00 0.05
SE Aberdeen MM Constellation Portfolio 1.90 1.95 0.05
SE Absolute Insight Equity Market Neutral 0.95 1.05 0.10
SE Allianz US Equity 0.80 0.95 0.15
SE Argonaut European Alpha 1.05 1.10 0.05
SE Baillie Gifford Diversified Growth 0.75 0.80 0.05
SE BlackRock UK Absolute Alpha 0.95 0.90 -0.05
SE BlackRock US Dynamic 0.95 0.90 -0.05
Emerging Markets Equity Tracker 0.15 0.10 -0.05
Ethical Cautious 0.40 0.35 -0.05
SE Fidelity European Opportunities 0.95 1.00 0.05
SE Fidelity Global Focus 1.00 0.95 -0.05
SE Henderson Cautious Managed 0.75 0.70 -0.05
SE Henderson Emerging Markets Opportunities 1.05 1.00 -0.05
SE Henderson European Select Opportunities 1.00 0.95 -0.05
SE Henderson Global Care Managed 1.00 0.95 -0.05
SE Henderson UK Absolute Return 2.20 0.95 -1.25
SE Henderson US Growth 1.00 0.95 -0.05
SE Investec Asia ex Japan 0.95 1.00 0.05
SE Investec Global Energy 0.85 0.90 0.05
SE Lazard Emerging Markets 0.80 0.85 0.05
SE Lazard European Alpha 0.80 0.85 0.05
SE M&G Global Basics 0.90 0.95 0.05
SE M&G Property Portfolio 1.05 1.10 0.05
SE Man GLG Japan Core Alpha 0.95 0.75 -0.20
SE Man GLG UK Select 0.95 0.75 -0.20
SE Neptune Balanced 0.85 0.80 -0.05
SE Neptune European Opportunities 0.85 0.90 0.05
SE Neptune Global Equity 0.85 0.90 0.05
SE Old Mutual Global Strategic Bond 0.55 0.60 0.05
SE Old Mutual UK Smaller Companies 0.90 0.85 -0.05
SE Schroder European Opportunities 0.80 0.85 0.05
SE Schroder Strategic Credit 0.60 0.65 0.05
SE Schroder UK Corporate Bond 0.65 0.60 -0.05
SE Somerset Global Emerging Markets 1.10 1.05 -0.05
SE Threadneedle American 0.80 0.75 -0.05
SE UBS Multi-Asset Income 0.75 0.85 0.10
SE UBS Targeted Return 1.05 0.90 -0.15
UK Equity Tactical 0.30 0.35 0.05
Aegon One Retirement (AOR) fund Fund charge before 22 April 2016 Fund charge from 22 April 2016 Difference +/−
Aegon Henderson China Opportunities 0.90 0.85 -0.05
Aegon Henderson UK Smaller Companies 0.85 0.95 0.10
Aegon Kames Absolute Return Bond 0.60 0.55 -0.05
Aegon Kames Global Equity Income 0.90 0.85 -0.05
Aegon Old Mutual Asia Pacific 1.30 1.00 -0.30
Aegon Old Mutual European Equity (ex UK) 0.95 0.90 -0.05
Aegon Old Mutual Global Emerging Markets 1.15 1.05 -0.10
Aegon Old Mutual Global Equity 1.25 1.05 -0.20
Aegon Old Mutual Japanese Equity 1.10 1.00 -0.10
Aegon Old Mutual Monthly Income Bond 0.85 0.80 -0.05
Aegon Old Mutual North American Equity 0.95 1.00 0.05
Aegon Old Mutual UK Equity Income 0.95 0.90 -0.05
Aegon Old Mutual UK Mid Cap 0.90 0.85 -0.05
Aegon Schroder UK Alpha Income 0.95 0.90 -0.05
Aegon Threadneedle China Opportunities 1.00 0.90 -0.10
Aegon Threadneedle Global Emerging Markets 1.00 0.90 -0.10
Aegon Threadneedle Latin American 0.95 0.90 -0.05
Scottish Equitable (SE) pension fund Additional fund charge before 22 April 2016 (%) Additional fund charge from 22 April 2016 (%) Difference +/−
Aegon Henderson UK Smaller Companies 0.85 0.95 0.10
Aegon Investec Emerging Markets Local Currency Debt 0.95 0.90 -0.05
Aegon Schroder QEP Global Core 0.40 0.35 -0.05
Aegon Stability Fund 0.87 0.82 -0.05
SE Aberdeen Asia Pacific Equity 0.85 0.95 0.10
SE Aberdeen Emerging Mkts (blend) (Closed to new investors) 0.95 1.00 0.05
SE Aberdeen Multi-Manager Constellation Portfolio 1.90 1.95 0.05
SE Absolute Insight Emerging Markets Debt 1.30 1.20 -0.10
SE Absolute Insight Equity Market Neutral 0.95 1.05 0.10
SE Allium Multi-Asset DRP VIII 0.25 0.30 0.05
SE Argonaut European Alpha 1.05 1.10 0.05
SE Artemis Income 0.68 0.65 -0.03
SE Baillie Gifford Diversified Growth 0.75 0.80 0.05
SE BlackRock UK Absolute Alpha 0.95 0.90 -0.05
SE BlackRock US Dynamic 0.95 0.90 -0.05
SE Caerus Global Opportunities 1.10 1.20 0.10
SE Cavendish Opportunities 0.75 0.85 0.10
SE Cavendish Worldwide 0.75 0.85 0.10
Ethical Cautious 0.10 0.05 -0.05
Ethical Managed Lifestyle 0.00 0.05 0.05
SE Fidelity European Opportunities 0.95 1.00 0.05
SE Fidelity Global Focus 1.00 0.95 -0.05
SE Henderson Cautious Managed 0.75 0.70 -0.05
SE Henderson Emerging Markets Opportunities 1.05 1.00 -0.05
SE Henderson European Selected Opportunities 1.00 0.95 -0.05
SE Henderson Global Care Managed 1.00 0.95 -0.05
SE Henderson UK Absolute Return 2.20 0.95 -1.25
SE Henderson US Growth 1.00 0.95 -0.05
SE Investec Asia ex Japan 0.95 1.00 0.05
SE Investec Global Energy 0.85 0.90 0.05
SE JLT Growth 0.90 0.60 -0.30
SE JLT Growth Lifestyle 0.90 0.60 -0.30
SE Lazard Emerging Markets 0.80 0.85 0.05
SE Lazard European Alpha 0.80 0.85 0.05
SE M&G Global Basics 0.90 0.95 0.05
SE M&G Property Portfolio 1.05 1.10 0.05
SE Man GLG Japan CoreAlpha 0.95 0.75 -0.20
SE Man GLG UK Select 0.95 0.75 -0.20
SE Neptune Balanced 0.85 0.80 -0.05
SE Neptune European Opportunities 0.85 0.90 0.05
SE Neptune Global Equity 0.85 0.90 0.05
SE Old Mutual Global Strategic Bond 0.55 0.60 0.05
SE Old Mutual UK Smaller Companies 0.90 0.85 -0.05
SE Omnis Managed Adventurous  0.85 0.55 -0.30
SE Omnis Managed Balanced  0.80 0.45 -0.25
SE Omnis Managed Cautious  0.75 0.45 -0.30
SE Omnis Multi-Manager Adventurous 1.40 1.45 0.05
SE Omnis Multi-Manager Balanced 1.40 1.35 -0.05
SE Omnis Multi-Manager Cautious  1.35 1.20 -0.15
SE Omnis Multi-Manager Distribution  1.15 1.20 0.05
SE Schroder European Opportunities 0.80 0.85 0.05
SE Schroder Strategic Credit 0.60 0.65 0.05
SE Schroder UK Corporate Bond 0.65 0.60 -0.05
SE Somerset Global Emerging Markets 1.10 1.05 -0.05
SE Threadneedle American 0.80 0.75 -0.05
SE UBS Multi-Asset Income 0.75 0.85 0.10
SE UBS Targeted Return 1.05 0.90 -0.15
UK Equity Tactical 0.00 0.05 0.05
Scottish Equitable (SE) life fund Additional fund charge before 22 April 2016 (%) Additional fund charge from 22 April 2016 (%) Difference +/−
SE (ex Insight DTR) Blackrock Diversified Dynamic Growth 1.05 0.50 -0.55
SE Artemis Income 0.68 0.65 -0.03
SE BlackRock UK Absolute Alpha 0.95 0.90 -0.05
SE BlackRock US Dynamic 0.95 0.90 -0.05
Ethical Care Bond (closed to new investors) 0.25 0.05 -0.20
SE Henderson Cautious Managed 0.75 0.70 -0.05
SE Henderson US Growth 1.00 0.95 -0.05
Japan 0.30 0.25 -0.05
SE Lazard Emerging Markets 0.80 0.85 0.05
SE Newton Balanced Managed 0.35 0.30 -0.05
SE Schroder Tokyo 0.95 1.00 0.05
Socially Responsible Equity 0.90 0.50 -0.40
SE UBS Targeted Return 1.05 0.90 -0.15