From 15 February 2022, the Scottish Equitable BlackRock Global Equity fund will be known as the Aegon BlackRock Developed Markets Sustainable Equity fund.
The underlying fund manager, BlackRock, has also notified us that it has changed the way it measures the performance of the underlying fund to incorporate certain sustainability-related considerations. As a result, we’re amending our fund’s objective to ensure it remains consistent with the underlying fund.
Nothing else about the fund will change because of these updates. For example, the fund manager, charges and Aegon risk ratings will all remain the same.
The changes in more detail
Name changes
The fund name is changing to better reflect how the fund invests. To ensure consistency for our customers, we’re changing our fund name. The fund’s short names, which appear on plan statements, will also change to reflect this. Details can be found in the tables below:
| Pension | |||
|---|---|---|---|
| Existing fund name | Existing short name | New fund name | New short name |
| Scottish Equitable BlackRock Global Equity fund | SE BLACKROCK GBL EQ | Aegon BlackRock Developed Markets Sustainable Equity fund | AGN BR DVLP MKTS SUS |
| ARC fund | |||
|---|---|---|---|
| Existing fund name | Existing short name | New fund name | New short name |
| Scottish Equitable BlackRock Global Equity (ARC) fund | ARC SE BLRK GBL EQ | Aegon BlackRock Developed Markets Sustainable Equity (ARC) fund | ARC AGN BR DVLP MKTS |
Changes to the fund’s objective
The underlying fund manager has updated the investment policy for this fund to incorporate certain sustainability-related considerations. To ensure consistency, we’re updating our version of the fund. Details can be found in the table below:
| Existing fund objective | New fund objective |
|---|---|
| This fund seeks to achieve long-term capital growth (over 5 or more consecutive years beginning at the point of investment) from investment primarily in a global portfolio of equity securities (shares) of successful companies based in or exercising a significant part of their economic activity in, developed markets. It may also invest in collective investment schemes. | This fund seeks to achieve long-term capital growth over the medium to long term (3 to 5 or more consecutive years beginning at the point of investment) by investing in a manner consistent with the principles of sustainable investing. It does so by investing primarily (at least 70%) in a global portfolio of equity securities (shares) of successful companies based in or exercising a significant part of their economic activity in, developed markets. It may also invest in emerging market companies and collective investment schemes. The fund seeks to invest in companies with strong environmental, social and governance (ESG) credentials, companies developing stronger ESG credentials and/or companies that produce, or otherwise enable, products and services that the fund considers to be sustainability focused. |
There’s no guarantee the fund will meet its objectives. The value of an investment can fall as well as rise and isn’t guaranteed. Investors could get back less than has been paid in.
Investors will start to notice the changes on their statements, in our literature and on our website from 15 February 2022. The changes will be implemented gradually, so investors may notice both the old and new fund names and objectives in use for a time.
For more information on these funds you can view the fund factsheet via the ‘Fund prices and performance page’ and viewing either ‘Aegon Retirement Choices (ARC)’ or ‘Other fund ranges’.
What current investors need to do
Existing investors don’t need to do anything. Please speak to a financial adviser if you’re unsure about what these changes mean for you. If you don’t have a financial adviser, you can find one in your area at moneyhelper.org.uk