Changes to some of our Scottish Equitable and Aegon Janus Henderson funds

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The underlying fund manager, Janus Henderson Global Investors, has notified us of changes it’s making to the underlying funds of a number of Aegon/Scottish Equitable funds.

These changes include:

Fund name change

  • Aegon Janus Henderson Global Technology (AOR)

Change to charges

  • Scottish Equitable Janus Henderson UK Gilt fund

Benchmark changes

  • Scottish Equitable Janus Henderson Cautious Managed fund (pension, life and ARC)
  • Aegon Janus Henderson China Opportunities fund (AOR)

The changes in more detail

Fund name change (for AOR investors)

Aegon Janus Henderson Global Technology (AOR) name change

From 11 February 2021, the Aegon Janus Henderson Global Technology (AOR) fund will be known as the Aegon Janus Henderson Global Technology Leaders (AOR) fund.

The fund manager has updated the name of the underlying fund to clarify its fund range. As a result, we’re updating the Aegon version to ensure we remain consistent.

Change to charges (for pension and ARC investors)

Scottish Equitable Janus Henderson UK Gilt fund charge change for pension and ARC investors

The fund manager has reduced the charges for the Scottish Equitable Janus Henderson UK Gilt fund. As a result:

  • The Total Charge* for pension investors decreased from 1.49% to 1.40%.
  • The Fund Charge** for ARC investors decreased from 0.49% to 0.40%.

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

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

Benchmark changes (for pension, life, ARC and AOR investors)

The underlying fund manager has updated the fund benchmarks for some of their funds. As a result, we’re updating our funds’ to ensure they remain consistent with the underlying funds. Full details can be found in the tables below.

Scottish Equitable Janus Henderson Cautious Managed fund

Existing benchmark New benchmark
50% FTSE All Share / 50% ICE Bank of America Merrill Lynch (BofA ML) 5-15 Year Sterling Non-Gilt FTSE All Share / 50% ICE BofA ML Sterling Non-Gilt Index

Source: Aegon UK

Aegon Janus Henderson China Opportunities fund (AOR)

Existing benchmark New benchmark
MSCI Zhong Hua MSCI Zhong Hua 10/40 Index

Source: Aegon UK

Nothing else about the funds will change because of these updates. For example, the fund manager and Aegon risk ratings will remain the same.

What current investors need to do

Existing investors don’t need to do anything. We’ll be updating our literature with the changes gradually, so investors may notice both the old and new names and fund objectives in use for a while.

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 moneyadviceservice.org.uk