From 16 June 2021, the charges for the following funds are decreasing:
- European Equity Select Portfolio
- North American Equity Select Portfolio
These changes will apply across our Pension and Aegon Retirement Choices (ARC) fund ranges.
Investors will start to notice the reduction in charges on our fund fact sheets, their plan statements or via their online account from 16 June 2021.
Why are the charges reducing?
From 16 June 2021, the charges for some Scottish Equitable/Aegon Schroder funds are changing.
As the European Equity Select Portfolio and North American Equity Select Portfolio’s currently invest in one or more Schroder funds, this will have an impact on the overall charge for both.
The changes in more detail
| Pension funds | ||||
|---|---|---|---|---|
| Mnemonic (fund identifier) | Fund name / impacted underlying fund | Current Total Charge* (%) | New Total Charge* (%) | Change (%) |
| ESP | European Equity Select Portfolio (which includes the Aegon Schroder European Recovery fund) | 1.78 | 1.75 | -0.03 |
| NSP | North American Equity Select Portfolio (which includes the Scottish Equitable Schroder US Mid-Cap fund) | 1.75 | 1.71 | -0.04 |
Source: Aegon UK
*This includes a standard 1% product charge, a fixed management fee and expenses that vary with the day-to-day costs of running the fund. You may pay a different product charge.
| ARC funds | ||||
|---|---|---|---|---|
| Mnemonic (fund identifier) | Fund name / impacted underlying fund | Old Fund Charge** (%) | New Fund Charge** (%) | Change (%) |
| ZDQ | European Equity Select Portfolio (ARC) (which includes the Aegon Schroder European Recovery fund) | 0.78 | 0.75 | -0.03 |
| ZHA | North American Equity Select Portfolio (ARC) (which includes the Scottish Equitable Schroder US Mid-Cap fund) | 0.75 | 0.71 | -0.04 |
**This is on top of any product or adviser charge you pay and includes a fixed management fee plus expenses that vary with the day-to-day costs of running the fund.
What this means for investors
Investors may notice these changes in our literature and on our website from 16 June 2021. The change will be implemented gradually across our material, so you may notice both the old and new information in use for a time.
For more information on this fund, you can view the fund factsheet via the ‘Fund prices and performance’ page on our website and selecting the appropriate fund range.
What investors need to do
Existing investors don’t need to do anything. If you’d like more information, please speak to your financial adviser. If you don’t have one, you can find one in your area at moneyadviceservice.org.uk