Closure of the Scottish Equitable Allianz Emerging Markets Equity fund

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On 25 June 2019, we’re closing the Scottish Equitable Allianz Emerging Markets Equity fund across our pension and Aegon Retirement Choices (ARC) fund ranges.

When the fund closes we’ll move remaining investors into the Scottish Equitable JPMorgan Emerging Markets fund, unless they tell us to move it elsewhere before then.

We’ll be writing to all those affected in advance to let them know about the closure.

Why we’re closing the fund

We constantly monitor and refine our fund ranges. The Scottish Equitable Allianz Emerging Markets Equity fund hasn’t grown in size as we’d expected, so we’ve decided to close the fund.

What this means for investors

Investors can stay invested and continue to pay in any regular contributions until the fund closes.

Then, on 25 June 2019, we’ll automatically switch their existing investment in the Scottish Equitable Allianz Emerging Markets Equity fund and all future contributions into the Scottish Equitable JPMorgan Emerging Markets fund, free of any switch charges.

The Fund Charge† for ARC investors will reduce from 1.15% to 0.95%.

The Total Fund Charge* for pension investors will reduce from 2.15% to 1.90%.

† 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. The fund charges may differ for Retiready (RR) or Aegon One Retirement (AOR).

*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.

More about the Scottish Equitable JPMorgan Emerging Markets fund

We’ve selected the Scottish Equitable JPMorgan Emerging Markets fund as we believe it to be the most comparable fund available within our fund range in terms of what it aims to do.

This fund aims to achieve long-term capital growth by investing mainly in shares of emerging market companies. The fund may also invest in other investments in smaller proportions, such as fixed interest securities, cash and cash equivalents amongst others.

For more information on the alternative fund you can view the fund factsheet via the ‘Fund prices and performance’ page and viewing ‘Other fund ranges’ for pension investors or ‘Aegon Retirement Choices (ARC)’ for ARC investors.

There’s no guarantee the fund will meet its 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.

What current investors need to do

If current investors are happy for us to move their investment into the Scottish Equitable JPMorgan Emerging Markets fund, they don’t need to do anything. However, if investors feel that this fund isn’t suitable for them they can switch their investment and redirect any future investment, free of any switch charge, into an alternative fund or funds of their choice. If investors wish to do this they should complete an alteration of fund choice form and return it to us as soon as possible.

If you would like more information, please speak to a financial adviser. If you don’t have one you can find one in your area at unbiased.co.uk.