Changes to the Scottish Equitable Templeton Global Total Return Bond fund

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From 13 September 2021, we’re changing the name of the Scottish Equitable Templeton Global Total Return Bond fund to the Aegon FTF Templeton Global Total Return Bond fund.

The underlying fund manager, Franklin Templeton Fund Management Limited, have also advised us that they’re consolidating their share class offering on the underlying fund. As a result, the fund’s charge is reducing. For consistency, we are reducing the charges on our versions of the fund:

  • The Total Charge* for pension investors is decreasing from 1.74% to 1.69%.
  • The Fund Charge** for ARC investors is decreasing from 0.74% to 0.69%.

*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.

These changes will be applied across our insured pension and Aegon Retirement Choices (ARC) fund ranges. Nothing else about the fund will change; for example, the fund’s aim and objective, fund manager and Aegon risk rating will remain the same.

The name changes in more detail

As part of their acquisition of Legg Mason, the underlying fund manager, Franklin Templeton Fund Management Limited, have advised that all sub-funds managed by Franklin Templeton Fund Management Limited and those previously managed by Legg Mason Investment Funds Limited, will contain the prefix ‘FTF’. For consistency, we’re updating the names on our versions of the fund.

Both old and new names are shown in the tables below. The fund’s short name, which appears on plan statements, will also change to reflect this.

Pension
Existing fund name Existing short name New fund name New short name
Scottish Equitable Templeton Global Total Return Bond fund SE TEMPLETON GBL TRB Aegon FTF Templeton Global Total Return Bond fund AGN FTF TEMP GBL TRB

Source: Aegon UK

Aegon Retirement Choices (ARC)
Existing fund name Existing short name New fund name New short name
Scottish Equitable Templeton Global Total Return Bond fund (ARC) ARC SE TEMPLETON TRB Aegon FTF Templeton Global Total Return Bond fund (ARC) ARC AGN FTF TEMPGTRB

Source: Aegon UK

Investors will start to notice the changes on their statements, in our literature and on our website from 13 September onwards. The change will be implemented gradually across our material, so you may notice both the old and new names in use for a time.

For more information, you can view the fund factsheets via the ‘Fund prices and performance’ page and viewing ‘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