On 5 July 2022, we updated the fund benchmark and objective for the Overseas Corporate Bond Tracker fund available via our insured Pension and Aegon Retirement Choices (ARC) fund ranges.
Nothing else about the fund changed because of this update. For example, the fund manager, charges and Aegon risk rating all remained the same.
The change in more detail
The underlying fund manager, BlackRock, updated the fund benchmark from the Bloomberg Barclays Capital Global Aggregate Corporate ex UK Index to the ICE (Intercontinental Exchange) Global Corporate ESG ex UK Index, to better reflect the fund's ESG (environmental, social and governance) principles. As a result of this, the fund’s objective was also updated. In order to be consistent with the underlying fund, we updated our version of the fund’s benchmark and objective.
Further details can be found in the tables below:
Benchmark change
| Old fund benchmark | New fund benchmark |
|---|---|
| The Bloomberg Barclays Capital Global Aggregate Corporate ex UK Index. | The ICE Global Corporate ESG ex UK Index. |
Objective change
| Old fund objective | Updated fund objective |
|---|---|
| This fund aims to achieve long-term capital growth by tracking closely the performance of the Barclays Capital Global Aggregate Corporate ex UK Index. It does so by investing directly in the corporate bonds that make up the Index and via other transferable securities giving exposure to such companies. The fund may also invest in permitted money market instruments, deposits and collective investment schemes. | This fund aims to achieve long-term capital growth by tracking closely the performance of the ICE Global Corporate ESG ex UK Index. It does so by investing directly in the corporate bonds that make up the Index and via other transferable securities giving exposure to such companies. The fund may also invest in permitted money market instruments, deposits and collective investment schemes. |
There’s no guarantee the fund will meet its objectives. The value of an investment can fall as well as rise and isn’t guaranteed. Investors could get back less than has been paid in.
Investors will start to notice the changes in our literature and on our website. The changes will be implemented gradually across our material, so investors may notice both the old and new information in use for a time.
For more information on these funds, you can view the fund factsheet via the ‘Fund prices and performance’ page on our website and selecting ‘Other fund ranges’ or ‘Aegon Retirement Choices (ARC)’.
What current investors need to do
Existing investors don’t need to do anything. Please speak to a financial adviser if you’re unsure about what these changes mean for you. If you don’t have a financial adviser you can find one in your area at moneyhelper.org.uk/choosing-a-financial-adviser