On 2 January 2024, we’re closing the Aegon GW&K Emerging Markets Equity (BLK) fund, available as part of our Aegon TargetPlan fund range.  

To prepare for this, on 21 December 2023, we’re switching current investors in this fund into the Aegon BlackRock Emerging Markets (BLK) fund.

We’re writing to those affected to let them know about the closure.

Why the funds are closing

The underlying fund manager, GW&K Investment Funds Plc, has decided to close the underlying fund on 3 January 2024, so we’re closing our version of the fund.

More about the Aegon BlackRock Emerging Markets (BLK) fund

We’ve chosen this fund as we believe it’s broadly similar in terms of where it invests and what it aims to do.

The fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the fund) over the long term (5 or more consecutive years beginning at the point of investment). The fund invests at least 70% of its total assets in the equity securities (shares) of companies incorporated or listed on a stock exchange in emerging market countries. The fund may indirectly invest in emerging markets by investing in American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs), which are listed or traded on stock exchanges and regulated markets outside emerging markets. ADRs and GDRs are investments issued by financial institutions which give exposure to underlying equity securities. 

There’s no guarantee the fund will meet its objective. The value of an investment can fall as well as rise, isn’t guaranteed and you may get back less than you invest.

For more information you can view the fund factsheet on the ‘Fund prices and performance page’ and selecting ‘TargetPlan funds’.

What current investors need to do

If current investors are happy for their investment to move to the alternative 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 a financial adviser, you can visit moneyhelper.org.uk/choosing-a-financial-adviser to find the right one for you.