Merian and Jupiter insured AOR fund closures – April 2022

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On 26 April 2022, we’re closing the below funds, which are available as part of our Aegon One Retirement (AOR) fund range.

When this happens, we’ll move remaining investors into the below alternative funds, unless they tell us to move them elsewhere before then:

  • Investors in the Aegon Merian European Equity (ex UK) (AOR) fund will move to the European Tactical (ARC) fund.
  • Investors in the Aegon Jupiter Investment Grade Bond (AOR) fund will move to the UK Corporate Bond (ARC) fund.

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

Why the funds are closing

We constantly monitor and refine our fund ranges. The funds haven’t grown in size as we’d expected, so we’ve decided to close the funds.

What this means for investors

Investors can stay invested and continue to pay in any regular contributions until the funds close. Then, on 26 April 2022, we’ll automatically switch their existing investment and all future contributions into the alternative funds, free of any switch charges.

More detail about the changes can be found in the tables below:

Closing fund Alternative fund
Aegon Merian European Equity (ex UK) (AOR) European Tactical (ARC)
Fund Charge* (for AOR investors)
0.91% 0.32%
European Tactical (ARC) fund objective
This fund aims to outperform the FTSE World Europe ex UK index, net of fees, by investing in equities (shares) across the range of European (ex UK) countries and sectors.

Source: Aegon UK

Closing fund Alternative fund
Aegon Jupiter Investment Grade Bond (AOR) UK Corporate Bond (ARC)
Fund Charge* (for AOR investors)
0.66% 0.27%
UK Corporate Bond (ARC) fund objective
This fund aims to perform broadly in line with the Markit iBoxx Sterling Non-Gilt Index, net of fees, by investing primarily in a wide range of sterling-denominated investment grade corporate bonds across all maturities.

Source: Aegon UK

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

More about the alternative funds

We’ve selected these funds as we believe they’re the most broadly comparable funds available within our fund range, in terms of what the funds invest in and what they aim to do. The fund objectives for the alternative funds can be found in the above table.

For more information on the alternative funds you can view the fund factsheet via the ‘Fund prices and performance’ page and viewing ‘Aegon Retirement Choices (ARC)’.

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. Investors could get back less than they invest.

What current investors need to do

If current investors are happy for us to move their investment into the alternative funds above, they don’t need to do anything. However, if investors feel that these funds aren’t suitable, 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 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 moneyhelper.org.uk