On 24 November 2022, we’re closing the funds below, which are available as part of our Aegon One Retirement (AOR) fund range.
When this happens, we’ll move remaining investors into the alternative funds below, unless they tell us to move them elsewhere before then:
- Investors in the Aegon Jupiter Merian Asia Pacific (AOR) fund will move to the Pacific (ARC) fund
- Investors in the Aegon Jupiter UK Alpha (AOR) fund will move to the UK Equity (ARC) fund
- Investors in the Aegon Merian UK Equity Income (AOR) fund will move to the Aegon BNY Mellon UK Income (ARC) fund
- Investors in the Aegon Schroder Asia Income (AOR) fund will move to the Pacific (ARC) fund
- Investors in the Aegon Schroder UK Alpha Income (AOR) fund will move to the Aegon BNY Mellon UK Income (ARC) fund
We’ll be writing to all those affected in advance to let them know about the closures.
Why the funds are closing
We constantly monitor and refine our fund ranges. The funds haven’t grown in size as we’d expected, so we’ve decided to close the funds.
What this means for investors
Investors can stay invested and continue to pay in any regular contributions until the funds close. Then, on 24 November 2022, we’ll automatically switch their existing investment and all future contributions into the alternative funds, free of any switch charges.
Further details on the alternative funds, including charges, can be found in the tables below:
| Closing fund | Alternative fund |
|---|---|
| Aegon Jupiter Merian Asia Pacific (AOR) fund | Pacific (ARC) fund |
| Fund Charge* | |
| 1.00% | 0.39% |
| Pacific (ARC) fund | |
| This fund aims to outperform the MSCI AC Asia Pacific ex Japan index, net of fees, by investing in a broad range of equities (company shares) in the Pacific Basin including Australasia and the Indian sub-continent, but excluding Japan. | |
| Closing fund | Alternative fund |
|---|---|
| Aegon Jupiter UK Alpha (AOR) fund | UK Equity (ARC) fund |
| Fund Charge* | |
| 0.85% | 0.32% |
| UK Equity (ARC) fund | |
| The fund aims to outperform the FTSE All Share index, net of fees, over rolling three-year periods. The fund will have exposure to UK equities principally through investing directly in UK companies. | |
| Closing fund | Alternative fund |
|---|---|
| Aegon Merian UK Equity Income (AOR) fund | Aegon BNY Mellon UK Income (ARC) fund |
| Fund Charge* | |
| 0.90% | 0.44% |
| Aegon BNY Mellon UK Income (ARC) fund | |
| This fund aims to achieve income over an annual period together with capital growth over the long term (5 years or more) by investing at least 70% of the portfolio in UK equities (company shares), including ordinary shares, preference shares and other equity-related securities; and invest in company shares targeting higher than average dividends (dividends are the proportion of company profits paid out to shareholders) and with good prospects for growth. The fund can also invest in money market instruments, deposits, cash and near cash; use derivatives (financial instruments whose value is derived from other assets) with the aim of risk or cost reduction or to generate additional capital or income; and invest up to 10% in other collective investment schemes (including but not limited to another fund or funds managed by BNY Mellon funds). | |
| Closing fund | Alternative fund |
|---|---|
| Aegon Schroder Asia Income (AOR) fund | Pacific (ARC) fund |
| Fund Charge* | |
| 0.92% | 0.39% |
| Pacific (ARC) fund | |
| This fund aims to outperform the MSCI AC Asia Pacific ex Japan index, net of fees, by investing in a broad range of equities (company shares) in the Pacific Basin including Australasia and the Indian sub-continent, but excluding Japan. | |
| Closing fund | Alternative fund |
|---|---|
| Aegon Schroder UK Alpha Income (AOR) fund | Aegon BNY Mellon UK Income (ARC) fund |
| Fund Charge* | |
| 0.82% | 0.44% |
| Aegon BNY Mellon UK Income (ARC) fund | |
| This fund aims to achieve income over an annual period together with capital growth over the long term (5 years or more) by investing at least 70% of the portfolio in UK equities (company shares), including ordinary shares, preference shares and other equity-related securities; and invest in company shares targeting higher than average dividends (dividends are the proportion of company profits paid out to shareholders) and with good prospects for growth. The fund can also invest in money market instruments, deposits, cash and near cash; use derivatives (financial instruments whose value is derived from other assets) with the aim of risk or cost reduction or to generate additional capital or income; and invest up to 10% in other collective investment schemes (including but not limited to another fund or funds managed by BNY Mellon funds). | |
*This is on top of any product or adviser charge and includes a fixed management fee, plus expenses that vary with the day-to-day running of the fund.
For more information on the alternative funds above you can view the fund factsheet via the ‘Fund prices and performance’ page and viewing ‘Aegon Retirement Choices (ARC)’.
There’s no guarantee the funds will meet their objectives. The value of an investment can fall as well as rise and is not guaranteed. Investors could get back less than they pay in.
What current investors need to do
If current investors are happy for us to move their investment into the alternative funds above, they don’t need to do anything. However, if investors feel that these funds aren’t suitable, they can switch their investment and redirect any future investment, free of any switch charge, into an alternative fund or funds of their choice.
If investors wish to do this, they should complete an alteration of fund choice form and return it to us as soon as possible.
If you would like more information, please speak to a financial adviser. If you don’t have a financial adviser, you can visit moneyhelper.org.uk/choosing-a-financial-adviser to find the right one for you.