From 31 March 2026, we’re making changes to some Aegon/Scottish Equitable Baillie Gifford funds available as part of our insured Pension, Life and Aegon Retirement Choices (ARC) fund ranges. The funds impacted, and the range they appear in, are listed below:
Pension/Life and ARC
- Aegon Baillie Gifford 60/40 Worldwide Equity1
- Scottish Equitable Baillie Gifford International1
Pension and ARC
- Scottish Equitable Baillie Gifford UK Equity1
ARC only
- Aegon Baillie Gifford Global Alpha Growth
- Aegon Baillie Gifford Positive Change
The changes are outlined below, please note nothing else about the funds will change because of this. We’re writing to all those affected about these changes.
The changes in more detail
The underlying fund manager, Baillie Gifford, has decided to update their fund objectives. To make sure our versions of the funds matches the underlying funds, we’re updating them.
The fund objective explains how the fund invests and what it’s trying to achieve for investors.
1We’re also taking this opportunity to update the names for some of these funds.
The old and new information is in the tables below. Investors will start to notice the changes on their online account, plan statement, in our literature and on our website from 31 March 2026 onwards. We’ll make the updates as soon as we can, but investors may notice the old and new information in use for a time, for example on our fund factsheets.
Pension/Life/ARC
Old fund name |
New fund name |
|---|---|
Aegon Baillie Gifford 60/40 Worldwide Equity |
Aegon Baillie Gifford UK and Worldwide Equity |
Old ARC fund name |
New ARC fund name |
Aegon Baillie Gifford 60/40 Worldwide Equity (ARC) |
Aegon Baillie Gifford UK and Worldwide Equity (ARC) |
Old fund objective |
New fund objective |
This fund invests in an internationally diversified portfolio of 60% UK and 40% overseas equities (shares) and aims to outperform its benchmark by at least 1% a year (after charges) over rolling five-year periods. The fund will invest at least 90% directly or indirectly in shares of UK and overseas companies of any size and in any sector, with a bias to UK companies. Any indirect investment will be through collective investment schemes. |
This fund invests in an internationally diversified portfolio and aims to outperform its composite benchmark (after charges) over rolling five-year periods. The fund will invest at least 90% directly or indirectly in shares of UK and overseas companies of any size and in any sector, with a bias to UK companies. Any indirect investment will be through collective investment schemes. |
Old fund name |
New fund name |
|---|---|
Scottish Equitable Baillie Gifford International |
Aegon Baillie Gifford International |
Old ARC fund name |
New ARC fund name |
Scottish Equitable Baillie Gifford International (ARC) |
Aegon Baillie Gifford International (ARC) |
Old fund objective |
New fund objective |
| This fund aims to outperform the MSCI ACWI ex-UK Index by 2% per year (after charges) over rolling 5-year periods by investing at least 90% in a geographically diversified portfolio of companies worldwide, excluding the UK. Its focus is on companies that in the manager's opinion, offer above average profit and invests in these with a long-term (over 5 years) perspective. The fund will typically hold between 70 to 120 stocks. The Scottish Equitable fund has higher charges than the underlying Baillie Gifford fund and will therefore be less likely to meet this target. | This fund aims to outperform the MSCI ACWI ex-UK Index (after charges) over rolling 5-year periods by investing at least 90% in a geographically diversified portfolio of companies worldwide, excluding the UK. The fund manager will focus on companies which it believes offer above-average profit growth and invests with a long-term (5 years or more) perspective. The fund will typically hold between 70 to 120 stocks. |
Pension and ARC
Old fund name |
New fund name |
|---|---|
Scottish Equitable Baillie Gifford UK Equity |
Aegon Baillie Gifford UK Equity Core Growth |
Old ARC fund name |
New ARC fund name |
Scottish Equitable Baillie Gifford UK Equity (ARC) |
Aegon Baillie Gifford UK Equity Core Growth (ARC) |
Old fund objective |
New fund objective |
| This fund aims to outperform the FTSE All Share Index by at least 1.0% a year (after charges) over rolling 5-year periods by investing at least 80% directly or indirectly in shares of UK companies of any size and in any sector. The Scottish Equitable fund has higher charges than the underlying Baillie Gifford fund and will therefore be less likely to meet this target. | This fund aims to outperform the FTSE All Share Index (after charges) over rolling 5-year periods by investing at least 80% directly or indirectly in shares of UK companies of any size and in any sector. |
ARC only
Old fund objective |
New fund objective |
|---|---|
The fund aims to outperform the MSCI ACWI Index by at least 2% per year over rolling five year periods (after charges) by investing at least 90% in shares of companies anywhere in the world and in any sector. The fund manager will focus on companies which it believes offer above-average profit growth and invests with a long-term (five year) perspective. The fund will typically hold between 70-120 stocks. The Scottish Equitable fund has higher charges than the underlying Baillie Gifford fund and will therefore be less likely to meet this target. |
The fund aims to outperform the MSCI ACWI Index over rolling five year periods (after charges) by investing at least 90% in shares of companies anywhere in the world and in any sector. The fund manager will focus on companies which it believes offer above-average profit growth and invests with a long-term (five years or more) perspective. The fund will typically hold between 70-120 stocks. |
Old fund objective |
New fund objective |
|---|---|
The fund aims to outperform the MSCI ACWI Index (after charges) by at least 2% per year over rolling five-year periods. It does so by investing in an actively managed portfolio of 25-50 global high quality growth companies which can deliver positive change in one of a range of themes such as Social Inclusion and Education, Environment and Resource Needs, Healthcare and Quality of Life; and Base of the Pyramid (addressing the needs of the world's poorest populations). These themes may change over time. Baillie Gifford’s Positive Change team generate ideas from a diverse range of sources. With a focus on fundamental in-house research, the group complete a two-stage analysis of all holdings, looking at both the financial and positive change aspects case for each stock using a consistent framework. The output is a high conviction and differentiated portfolio. |
The fund aims to outperform the MSCI ACWI Index (after charges) over rolling five-year periods. It does so by investing in an actively managed portfolio of 25-50 global high-quality growth companies which can deliver positive change in one of a range of themes such as Social Inclusion and Education, Environment and Resource Needs, Healthcare and Quality of Life; and Base of the Pyramid (addressing the needs of the world's poorest populations). These themes may change over time. Baillie Gifford’s Positive Change team generate ideas from a diverse range of sources. With a focus on fundamental in-house research, the group complete a two-stage analysis of all holdings, looking at both the financial and positive change aspects case for each stock using a consistent framework. The output is a high conviction and differentiated portfolio. |
Source: Aegon UK
There’s no guarantee the funds will meet their objective. The value of an investment can fall as well as rise and isn’t guaranteed. Investors could get back less than they invest.
What current investors need to do
Existing investors don’t need to do anything.
More information about these funds can be found on the ‘Fund prices and performance’ page on our website and selecting either ‘Other fund ranges’ or ‘Aegon Retirement Choices (ARC)’
If you’re invested in any of the affected funds, you should speak to your financial adviser in the first instance if you need advice about your investments. There’s likely to be a charge for this. If you don’t have a financial adviser, you can find one in your area by visiting MoneyHelper or find out more about advice services supported by Aegon by visiting Origen.
Origen Financial Services Ltd is wholly owned by Aegon UK plc but operates independently to us.