Changes to the Scottish Equitable Allianz BRIC Stars fund

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From 29 July 2016, the name of the Scottish Equitable Allianz BRIC Stars fund will change to the Scottish Equitable Allianz Emerging Markets Equity fund. In addition, the benchmark and fund objective will also change.

These changes will apply across our insured fund ranges. The changes to the fund are detailed below:

Fund name prior to 29 July 2016 Fund name from 29 July 2016
Scottish Equitable Allianz BRIC Stars Scottish Equitable Allianz Emerging Markets Equity fund
Benchmark prior to 29 July 2016 Benchmark from 29 July 2016
Composite Index: 25% MSCI Brazil, 25% MSCI Russia, 25% MSCI India, and 25% MSCI China MSCI Emerging Markets Index
Fund objective prior to 29 July 2016 Fund objective after 29 July 2016
The fund aims to achieve long-term capital growth by mainly investing in the equity markets of Brazil, Russia, India and China (BRIC). It can also invest up to one third of its assets in non-BRIC countries, including developed economies and/or other emerging markets. The fund aims to achieve capital growth in the long term by investing mainly in the equity markets of countries which are represented in the MSCI Emerging Markets Index. At least 80% of the fund’s assets will be invested in equities, and securities equivalent to equities, in emerging market countries. Up to 20% of the fund’s assets may be invested outside emerging market countries represented in the above index, including developed economies and/or other emerging markets.

There’s no guarantee that the fund’s objectives will be met. The value of this investment can go down as well as up and investors may get back less than they invested.

Why are we making these changes?

The underlying fund manager, Allianz, has decided to remove the restriction on investments in BRIC countries to give the fund manager more freedom to diversify investment across all emerging market countries that are represented in the MSCI Emerging Markets Index.

As a result, we’re updating our fund name, benchmark and investment objective to reflect the underlying fund’s broader emerging market remit.

What do investors need to do?

Existing investors don’t need to do anything, the fund will change automatically. The fund manager, charges and Aegon risk rating remain the same.

Please speak to a financial adviser if you’re unsure about what the changes mean for you. You can find one in your area at unbiased.co.uk(Opens new window)