- Aegon UK’s largest workplace default fund, the Universal Balanced Collection (UBC), now holds over £1 billion in Long-Term Asset Funds, including private market assets.1
- Utilising three Long-Term Asset Funds (LTAFs), this aims to benefit over 700,000 members.2
- Aegon UK is the first DC provider to incorporate three LTAFs in a workplace default fund, setting a new benchmark for bold, purpose-driven investment in workplace pensions.
Aegon UK has achieved a significant industry milestone by being the first DC provider to integrate three Long-Term Asset Funds (LTAFs) into a workplace solution. These now form part of Aegon UK’s largest workplace default fund, the Universal Balanced Collection (UBC), with the LTAF assets collectively exceeding £1 billion, and marking a major step forward in DC workplace pension innovation.1
This strategic move reinforces Aegon UK’s focus on member outcomes, offering enhanced diversification and improved risk-adjusted return potential. Over 700,000 members will gain access to innovative private market investments – such as renewable energy, sustainable infrastructure and forestry – opportunities that have historically been out of reach for most workplace savers.2
The move establishes a new benchmark for bold, purpose-driven investments in workplace pensions. It aligns with Aegon UK’s commitment to the Mansion House Accord, aiming to invest at least 10% of default fund assets in private markets by 2030, focusing on sustainability and long-term growth.
Lorna Blyth, Managing Director of Investment Proposition at Aegon UK, comments:
“This is a defining moment, not just for Aegon UK, but for the future of long-term investing.
“Together, we’ve turned ambition into action, unlocking private markets for over 700,000 members and setting a new standard for innovation, sustainability and value in workplace pensions.
“The next step is to deploy the LTAFs into our Master Trust default, comfortably helping Aegon pass the £25 billion asset under management threshold for DC schemes."
Future plans for the Universal Balanced Collection
Plans are in place to increase LTAF allocations within the Universal Balanced Collection, aiming for a combined 17% target allocation by 2028.3 Aegon UK has partnered with three leading fund managers to provide tailored private markets LTAF solutions, leveraging their dedicated, specialised expertise and resources:
- BlackRock: A bespoke, diversified alternative private markets strategy for Aegon UK, including private equity, private debt, real estate and infrastructure.
- Aegon Asset Management: Private credit LTAF provides diversified exposure to a range of Aegon Asset Management’s leading private credit strategies, including corporate lending, fund financing, insured credit, renewables and asset backed finance.
- J.P. Morgan Asset Management: A bespoke strategy that leverages the firm’s alternatives platform and offers exposure to private markets such as through private equity, infrastructure, transportation and forestry investments.
The Universal Balanced Collection is available to Aegon Retirement Choices (ARC) and One Retirement investors, as well as some off-platform products.
References
- Aegon UK internal data, as at 31 October 2025.
- Aegon UK internal data, as at 31 October 2025.
- Aegon UK internal data. The current asset allocation to Long-Term Asset Funds in the Universal Balanced Collection is 8% (as at 31 October 2025). This will increase in a phased approach until it reaches its full 17% allocation by 2028.
Long-Term Asset Funds
- Long-Term Asset Funds are a new type of regulated fund, designed to invest in long-term, illiquid assets such as private equity, private credit, real estate or infrastructure.
- The value of investments may go down as well as up, and investors may get back less than they invest.
About Aegon
In the UK, Aegon offers pension and investment solutions to over 3.5 million customers, supported by over 3,000 employees. Figures are correct as of 31/12/2024. Learn more at aegon.co.uk/about-us
Aegon UK is part of the wider Aegon Group, an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection and retirement solutions. Aegon’s portfolio of businesses includes fully-owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint ventures in Spain & Portugal, China and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market-leading Dutch insurance and pensions company.
Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com/about
Aegon is a brand name of Scottish Equitable plc (No. SC144517) and Aegon Investment Solutions Ltd (No. SC394519) registered in Scotland, registered office: Edinburgh Park, Edinburgh, EH12 9SE. Both are Aegon companies. Scottish Equitable plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Aegon Investment Solutions Ltd is authorised and regulated by the Financial Conduct Authority. Their Financial Services Register numbers are 165548 and 543123 respectively. © 2025 Aegon UK plc
The information in this press release is intended solely for journalists and shouldn’t be relied upon by any other persons to make financial decisions.