On 7 March 2024, we’re closing the Scottish Equitable Janus Henderson UK Gilt fund, available as part of our insured Pension and Aegon Retirement Choices (ARC) fund ranges.

When the fund closes, we’ll move investors into the UK Gilts All-Stocks Tracker fund unless they tell us to move it to a different fund before then.

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

Why we’re closing the fund                           

The underlying fund manager, Janus Henderson Investors, is closing the underlying fund on 14 March 2024, so we’re closing our version of the fund.

What this means for investors

Until the fund closes, investors can stay invested and carry on paying into it. Then, on 7 March 2024, we’ll move their investment and all future investment into the UK Gilts All-Stocks Tracker fund, free of any switch charge.

There’s more information about the alternative fund in the table below:


Closing fund

Alternative fund

Scottish Equitable Janus Henderson UK Gilt fund

UK Gilts All-Stocks Tracker fund

Total Charge1 (for Pension investors)



Fund Charge2 (for ARC investors)



UK Gilts All-Stocks Tracker fund

The fund aims to achieve a total return (a combination of income plus capital growth) for investors by tracking closely the performance of the FTSE Actuaries UK Gilts All Stocks Index by investing directly, or occasionally indirectly, in fixed income securities (bonds) contained in the Index. 

Source: Aegon UK

1This includes a standard 1% product charge, a fixed management fee and expenses that vary with the day-to-day costs of running the fund.

2This is on top of any product or adviser charge and includes a fixed management fee, plus expenses that vary with the day-to-day costs of running the fund.

You can find more information about this fund in the fund factsheet on the ‘Fund prices and performance’ page of our website and viewing ‘Other fund ranges’ or ‘Aegon Retirement Choices (ARC)’.

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’ve paid in.

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 move their investment with no switch charge, into a different fund or funds they choose.

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.