On 20 January 2022, we’re closing the Aegon BlackRock UK Smaller Companies Equity Index (BLK) fund, which is available as part of our Aegon TargetPlan fund range.
In preparation for this, on 16 December 2021, we’re switching remaining investors in the Aegon BlackRock UK Smaller Companies Equity Index (BLK) fund into the Aegon BlackRock UK Equity Index (BLK) fund.
We’ll be writing to all those affected in advance to let them know about the closure.
Why the fund is closing
The underlying fund manager, BlackRock, have decided to close the underlying fund on 21 January 2022.
What this means for investors
Investors can stay invested and continue to pay in any contributions until 16 December 2021, when we’ll automatically switch their investment and all future contributions into the Aegon BlackRock UK Equity Index (BLK) fund, free of any switch charges.
When this happens, the additional expenses (these are the day-to-day costs associated with the administration and management of the underlying assets) for investors will decrease from 0.02% to 0.01%.
Investors will notice the change on their statements, in our literature and on our website. The changes will be implemented gradually across our material, so they may notice both the old and new information in use for a time.
More about the Aegon BlackRock UK Equity Index (BLK) fund
We’ve selected this fund as we believe it to be comparable with the closing fund in terms of where it invests and what it aims to do.
This fund invests in the shares of UK companies and aims to achieve a return consistent with that of the FTSE All Share Index.
For more information, you can view the fund factsheet via the ‘Fund prices and performance’ page on our website and selecting ‘TargetPlan funds’.
What current investors need to do
If current investors are happy for us to move their investment into the Aegon BlackRock UK Equity Index (BLK) fund, they don’t need to do anything. However, if investors feel that this fund isn’t suitable for them, 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 current investors wish to do this, they can view the funds available to their plan by logging into TargetPlan, selecting ‘Fund Information’ from the Dashboard and selecting the “Switch funds” button to make the switch.
If you would like more information, please speak to a financial adviser. If you don’t have one you can find one in your area at www.moneyhelper.org.uk