Changes to the Core Risk Profile Portfolios & Core Risk Lifestyle Portfolios

Fund_Update.jpg

For customers

We’re making changes to our Core Portfolios and Core Lifestyle Portfolios across our pension and Aegon Retirement Choices (ARC) fund ranges. The changes include:

  • Updates to the forward-looking target volatility ranges for each fund.
  • Clarification on how much each fund can invest in equities (company shares).

These changes will be implemented from October 2020 onwards. Each fund’s objective will be updated to reflect the changes. You can see the old and new fund objectives below.

Core Portfolios

Conservative Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 3-6% over a market cycle, which the fund manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Conservative Core Portfolio invests mainly in less risky assets, like corporate bonds, government bonds (gilts) and cash. It will also hold a limited amount of its assets (around 10%) in riskier assets, like developed market equities (shares of companies). This is the least risky of the Core Risk Profile Portfolios, so it may not return as much as our other portfolios in the range over the longer term. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 4-8% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. It will also invest a limited amount in riskier assets, including developed and emerging market equities. To be consistent with the target volatility range, the fund would typically be expected to invest between 5-35% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This is the least risky of the Core Risk Profile Portfolios, so it may not return as much as our other portfolios in the range over the longer term.
Cautious Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 6-8% over a market cycle, which the fund manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Cautious Core Portfolio invests mainly in less risky assets like cash, government bonds (gilts), corporate bonds and property. It will also invest to a lesser extent (around 30%) in riskier equities (shares in companies). This is the second least risky of the Core Risk Profile Portfolios, so it may not return as much as other funds in the range over the longer term. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 5.5-9.5% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. It will also invest to a lesser extent in riskier assets, including developed and emerging markets equities. To be consistent with the target volatility range, the fund would typically be expected to invest between 20-50% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This is the second least risky of the Core Risk Profile Portfolios, so it may not return as much as other funds in the range over the longer term.
Balanced Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 8-10% over a market cycle, which the fund manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Balanced Core Portfolio invests around 50% in a mix of less risky assets, like cash, bonds and property, with around 50% invested in riskier assets such as equities (shares of companies), including some in emerging markets equities. This portfolio sits towards the lower end of our Core Risk Profile Portfolio range in terms of risk and long-term growth potential. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 7-11% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in a balanced mix of assets traditionally viewed as lower risk (including investment grade corporate bonds, government bonds (gilts) and cash) and riskier assets (including developed and emerging markets equities). To be consistent with the target volatility range, the fund would typically be expected to invest between 35-65% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This portfolio sits towards the lower end of our Core Risk Profile Portfolio range in terms of risk and long-term growth potential.
Balanced Plus Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 10-12% over a market cycle, which the manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Balanced Plus Core Portfolio invests around 60% in riskier assets such as equities (shares of companies), including some in emerging markets equities, and around 40% in a mix of less risky assets, like cash, bonds and property. This portfolio sits in the middle of our Core Risk Profile Portfolio range in terms of risk and long-term growth potential. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 8.5-12.5% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in mainly riskier assets, including developed and emerging markets equities. It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 50-80% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This portfolio sits in the middle of our Core Risk Profile Portfolio range in terms of risk and long-term growth potential.
Growth Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 12-14% over a market cycle, which the fund manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Growth Core Portfolio invests in a mix of assets, like equities (shares in companies), bonds and property, but with the majority (around 70%) invested in riskier assets, such as equities, including emerging markets equities. This means the portfolio sits towards the upper end of the Core Risk Profile Portfolio range in terms of risk and long-term growth potential. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 10.5-14.5% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in riskier assets including developed and emerging markets equities. It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 65-95% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This means the portfolio sits towards the upper end of the Core Risk Profile Portfolio range in terms of risk and long-term growth potential.
Growth Plus Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 14-16% over a market cycle, which the fund manager defines as being three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Growth Plus Core Portfolio can invest in a mix of assets, like equities (shares in companies), bonds and property, but with the majority (around 90%) invested in riskier assets, such as equities, including emerging markets equities. This makes it our second highest risk of our Core Risk Profile Portfolios, but with the potential for higher long-term returns. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 12-16% over a market cycle, which the fund manager defines as being three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in riskier assets, including developed and emerging markets equities. It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 75-100% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. This makes it our second highest risk of our Core Risk Profile Portfolios, but with the potential for higher long-term returns.
Adventurous Core Portfolio
Old fund objective New fund objective from October 2020
This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 16-18% over a market cycle, which can last three years or more. We’ve engaged Morningstar to help us select and manage the blend of funds it contains. The portfolio is built mainly using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The Adventurous Core Portfolio invests almost exclusively in riskier assets, such as equities (shares of companies) and may hold 30% or more in highly volatile emerging markets equities. As such, it’s the highest risk of our Core Risk Profile Portfolios, but also has the potential for higher long-term returns. This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 13.5-17.5% over a market cycle, which can last three years or more. The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests almost exclusively in riskier assets, including developed and emerging markets equities. To be consistent with the target volatility range, the fund would typically be expected to invest between 85-100% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change. As such, it’s the highest risk of our Core Risk Profile Portfolios, but also has the potential for higher long-term returns.

 

Core Lifestyle Portfolios

Conservative Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Conservative Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 3-6% over a market cycle, which can last three years or more. It invests mainly in less risky assets, like corporate bonds, government bonds (gilts) and cash but will also hold around 10% in riskier assets, like equities (shares of companies). Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors. This is a lifestyle fund. In the early years (the growth stage) it invests in the Conservative Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 4-8% over a market cycle, which can last three years or more.

The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. It will also invest a limited amount in riskier assets, including developed and emerging market equities (company shares). To be consistent with the target volatility range, the fund would typically be expected to invest between 5-35% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
Cautious Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Cautious Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 6-8% over a market cycle, which can last three years or more. It invests mainly in less risky assets like cash, government bonds (gilts), corporate bonds and property. It will also invest around 30% in riskier equities (shares in companies). Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors. This is a lifestyle fund. In the early years (the growth stage) it invests in the Cautious Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 5.5-9.5% over a market cycle, which can last three years or more.

The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. It will also invest to a lesser extent in riskier assets, including developed and emerging markets equities (company shares). To be consistent with the target volatility range, the fund would typically be expected to invest between 20-50% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
Balanced Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Balanced Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 8-10% over a market cycle, which can last three years or more. It invests around 50% in less risky assets, like cash, bonds and property, with around 50% invested in riskier equities (company shares), including some in emerging markets. Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors. This is a lifestyle fund. In the early years (the growth stage) it invests in the Balanced Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 7-11% over a market cycle, which can last three years or more.   The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests in a balanced mix of assets traditionally viewed as lower risk (including investment grade corporate bonds, government bonds (gilts) and cash) and riskier assets including developed and emerging markets equities (company shares). To be consistent with the target volatility range, the fund would typically be expected to invest between 35-65% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
Balanced Plus Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Balanced Plus Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 10-12% over a market cycle, which can last three years or more. It invests around 60% in riskier assets such as company shares, including some emerging markets shares, and around 40% in a mix of less risky assets, like cash, bonds and property. Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors. This is a lifestyle fund. In the early years (the growth stage) it invests in the Balanced Plus Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 8.5-12.5% over a market cycle, which can last three years or more.
The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in riskier assets, including developed and emerging markets equities (company shares). It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 50-80% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
Growth Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Growth Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 12-14% over a market cycle, which can last three years or more. It invests in a mix of assets, like equities (shares in companies), bonds and property, but with around 70% invested in riskier equities, including emerging markets. Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.   This is a lifestyle fund. In the early years (the growth stage) it invests in the Growth Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 10.5-14.5% over a market cycle, which can last three years or more.

The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in riskier assets including developed and emerging markets equities (company shares). It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 65-95% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years)  Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
Growth Plus Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This is a lifestyle fund. In the early years (the growth stage) it invests in the Growth Plus Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 14-16% over a market cycle, which can last three years or more. It invests in a mix of assets, like equities (company shares), bonds and property, but with the majority (around 90%) invested in equities, including emerging markets equities. Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors. This is a lifestyle fund. In the early years (the growth stage) it invests in the Growth Plus Core Portfolio, which aims to provide long-term capital growth while keeping risk in a target volatility range of 12-16% over a market cycle, which can last three years or more.
The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions. The fund invests mainly in riskier assets, including developed and emerging markets equities (company shares). It can also invest to a lesser extent in assets traditionally viewed as lower risk, including investment grade corporate bonds, government bonds (gilts) and cash. To be consistent with the target volatility range, the fund would typically be expected to invest between 75-100% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash fund, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.  
Adventurous Core Lifestyle Portfolio
Old fund objective New fund objective from October 2020
This fund uses a two-stage investment process called lifestyling. In the early years (the growth stage) it invests in the Adventurous Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 16-18% over a market cycle, which the fund manager defines as being three years or more. It invests almost exclusively in riskier assets, such as equities (company shares) with 30% or more in highly volatile emerging markets equities.
Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.
This fund uses a two-stage investment process called lifestyling. In the early years (the growth stage) it invests in the Adventurous Core Portfolio which aims to provide long-term capital growth while keeping risk in a target volatility range of 13.5-17.5% over a market cycle, which the fund manager defines as being three years or more.

The portfolio is built using a collection of low-cost funds that aim to perform in line with their regional benchmarks, by investing in the same companies as them, in the same proportions.  The fund invests almost exclusively in riskier assets, including developed and emerging markets equities (company shares). To be consistent with the target volatility range, the fund would typically be expected to invest between 85-100% in equities. The underlying assumptions that support the volatility and equity ranges are at the fund manager's discretion and are subject to change.

Six years before the start of your target retirement year (the lifestyle stage), we’ll progressively start switching your investment into our Long Gilt and (in the final two years) Cash funds, with the aim of giving you more certainty about the level of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot. We review our lifestyle funds from time to time and may change how they work if we believe this to be in the best interests of investors.

 

Why we’re making these changes

Each portfolio has a target volatility range that it expects to meet over a market cycle, which can last 3 years or more. Since the funds launched in 2013, the assumptions used to calculate those targets have changed as market volatility has changed. As a result, the target range for each portfolio has been updated.

The amount each portfolio can invest in equities has also been updated to be more representative of how each fund invests to meet its target volatility range.

What this means for you

You’ll see the new information in the fund objectives for each fund from October onwards. The changes will be implemented gradually across our material, so you may notice both the old and new information in use for a time.

Nothing else about the funds is changing but you may notice these changes in our literature and on our website from October 2020 onwards.

There’s no guarantee the funds will meet their objectives. The value of an investment can fall as well as rise and is not guaranteed. You could get back less than you originally invested.

For more information on these funds, you can view individual fund factsheets via the ‘Fund prices and performance’ page on our website and selecting ‘Other fund ranges’.

What you need to do

You don’t need to do anything. If you’d like more information, please speak to your financial adviser. If you don’t have one, you can find one in your area at moneyadviceservice.org.uk.