Changes to the UK Corporate Bond Select Portfolio

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We’re changing the weightings of the UK Corporate Bond Select Portfolio due to the closure of the PIMCO Select UK Corporate Bond in July. This affects the Aegon Retirement Choices (ARC) and packaged versions of the fund.

Why is the fund changing?

The Scottish Equitable PIMCO Select UK Corporate Bond fund(Opens new window) is closing at the end of July and it will therefore be removed from the UK Corporate Bond Select Portfolio.

How will this affect the fund?

The charge for the ARC version of the UK Corporate Bond Select Portfolio will reduce from 0.85% to 0.80%. For our older packaged pension products the additional disclosable charges will remain the same. The charges are in addition to any product or adviser charges that apply.

The new splits for the UK Corporate Bond Select Portfolio will be:

  • Scottish Equitable Kames Investment Grade Bond: 25%
  • Scottish Equitable Fidelity MoneyBuilder Income: 28%
  • Scottish Equitable Henderson Strategic Bond: 12%
  • Scottish Equitable M&G Strategic Corporate Bond: 20%
  • Scottish Equitable Royal London Corporate Bond: 15%

This change will be effective from 27 July 2016.

What does this mean for current investors?

Current investors don’t need to do anything.  We routinely review our portfolios and may make changes where we have to, to try to ensure they continue to meet their objectives. The fund objectives and risk ratings are not changing.

Investors should be aware that the value of this investment can go down as well as up. There's a risk they may get back less than they invested.