From 31 March 2022, the Scottish Equitable Fidelity Global Focus fund will be known as the Aegon Fidelity Sustainable Global Equity fund.
The underlying fund manager, Fidelity, has also notified us that it has incorporated certain sustainability-related considerations into its investment selection process. 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 rating will remain the same.
The changes in more detail
Name change
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 funds
| Existing fund name | Existing short name | New fund name | New short name |
|---|---|---|---|
| Scottish Equitable Fidelity Global Focus fund | SE FIDELITY GL FOCUS | Aegon Fidelity Sustainable Global Equity fund | AGN FIDEL SUS GBL EQ |
Source: Aegon UK
ARC Funds
| Existing fund name | Existing short name | New fund name | New short name |
|---|---|---|---|
| Scottish Equitable Fidelity Global Focus (ARC) fund | ARC SE FID GLFOCUS | Aegon Fidelity Sustainable Global Equity (ARC) fund | ARC AGN FID SUS GBL |
Source: Aegon UK
Changes to the fund’s objective
The underlying fund manager has updated the investment objective 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 aims to achieve long-term capital growth over a period of five years or more from a portfolio at least 80% invested in equities (shares) of companies from around the world, including some deemed to be emerging markets. The fund will aim to hold a concentrated portfolio of between 40-60 stocks. Derivatives may also be used for the purposes of efficient portfolio management (EPM) or for investment purposes. | The fund aims to achieve long-term capital growth over a period of five years or more. It does this by investing at least 70% in a concentrated portfolio of between 40-60 stocks from around the world that the underlying fund manager considers place particular importance in confronting important environmental, social, and governance (ESG) issues. This concentrated global equity strategy has a quality-growth bias. The fund can also invest in emerging markets. Derivatives may also be used for the purposes of efficient portfolio management (EPM) or for investment purposes. |
Source: Aegon UK
There’s no guarantee the fund will meet its 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.
Investors will start to notice the changes on their plan statements, in our literature and on our website from 31 March 2022. The changes will be implemented gradually across our material, so they 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 on our website and selecting ‘Other fund ranges’ or ‘Aegon Retirement Choices (ARC)’.
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