On 25 October 2022, we’re closing the Aegon ASI Emerging Markets (blend) fund, which is available as part of our insured Pension and Aegon Retirement Choices (ARC) fund ranges.
When this happens, we’ll move remaining investors into the Global Emerging Markets Equity Select Portfolio, unless they tell us to move them elsewhere before then.
We’ll be writing to all those affected in advance to let them know about the closures.
Why the funds are closing
Every year we conduct analysis on our insured funds, looking at a number of factors such as fund performance and value for money. The latest analysis shows that the Aegon ASI Emerging Markets (blend) fund is no longer economically viable, therefore we’ve decided to close the fund.
What this means for investors
Investors can stay invested and continue to pay in any regular contributions until the fund closes. Then, on 25 October 2022, we’ll automatically switch their existing investment and all future contributions into the alternative fund, free of any switch charges.
Further details on the alternative fund, including charges, can be found in the table below:
| Closing fund | Alternative fund |
|---|---|
| Aegon ASI Emerging Markets (blend) fund | Global Emerging Markets Equity Select Portfolio |
| Total Charge* (for Pension investors) | |
| 1.94% | 1.82% |
| Fund Charge** (for ARC investors) | |
| 0.94% | 0.87% |
| Global Emerging Markets Equity Select Portfolio | |
| This multi-manager portfolio aims to provide a good level of long-term capital growth by investing in a number of high-quality emerging market equity (shares in companies) funds from different managers, recommended by independent researchers Morningstar. The portfolio targets returns above the IA Global Emerging Markets sector median over rolling three-year periods and Morningstar help us to select and manage the blend of funds on an ongoing basis to help it achieve this. | |
*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. Investors may pay a different product charge, in which case the Total Charge would be different.
**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 fund you can view the fund factsheet via the ‘Fund prices and performance’ page and viewing ‘Other fund ranges’ or ‘Aegon Retirement Choices (ARC)’.
There’s no guarantee the fund will meet its objective. 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 Global Emerging Markets Equity Select Portfolio, they don’t need to do anything. However, if investors feel that this fund isn’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.