We’ve made changes to the Scottish Equitable Somerset Global Emerging Markets fund09 September 2015 Back to results
On 10 July 2015, the total additional disclosable charge for the Scottish Equitable Somerset Global Emerging Markets fund reduced from 1.20% to 1.10%.
For packaged customers the total charges including product charges reduced from 2.20% to 2.10%.
The change also affected Aegon Retirement Choices (ARC) investors where the investment charge is in addition to any platform and adviser charges you may be paying.
Why have we updated the charge?
Somerset Capital Management, the underlying manager of the fund, reduced the charge of the underlying fund by 0.10% to make it more consistent with the other funds in their range.
As a result, we updated our fund charge to keep it in line with the underlying fund.
What does this mean for current investors?
Current investors don’t need to do anything. The additional disclosable charge for the fund was automatically updated from 1.20% to 1.10%. There were no other changes to the fund.
The additional charges/expenses for our funds are estimated. Although the majority is made up of an agreed management fee, the expenses element depends on the actual expenses incurred by the underlying fund, so what you actually pay may vary slightly.