From 28 July 2022, the Aegon AM UK Opportunities fund will be known as the Aegon AM UK Sustainable Opportunities fund. This fund is available across our insured Pension, Life and Aegon Retirement Choices (ARC) fund ranges.
The underlying fund manager, Aegon Asset Management (AAM), has also notified us that it’s incorporated certain sustainability-related considerations into its investment selection process. As a result, we’re amending our fund’s objective to ensure it remains consistent with the underlying fund.
Nothing else about the fund will change because of these updates. For example, the fund manager, charges and Aegon risk rating will remain the same.
The changes in more detail
Name change
The underlying fund manager, AAM, is updating the fund name. To ensure consistency for our customers, we’re changing our fund name. The fund’s short names, which appear on plan statements, will also change to reflect this. Details can be found in the tables below:
| Pension and Life funds | |||
|---|---|---|---|
| Existing fund name | Existing short name | New fund name | New short name |
| Aegon AM UK Opportunities fund | AGN AM UK OPPS | Aegon AM UK Sustainable Opportunities fund | AGN AM UK SUS OPPS |
| ARC funds | |||
|---|---|---|---|
| Existing fund name | Existing short name | New fund name | New short name |
| Aegon AM UK Opportunities (ARC) fund | ARC AGN AM UK OPPS | Aegon AM UK Sustainable Opportunities (ARC) fund | ARC AGN AM UK SUS OP |
Changes to the fund’s objective
The underlying fund manager has updated the investment objective for this fund to incorporate changes to the investment approach, which will incorporate sustainable criteria.
To ensure consistency, we’re updating our version of the fund. Details can be found in the table below:
| Existing fund objective | New fund objective |
|---|---|
| This fund aims to maximise total return (income plus capital growth) over any 7-year period by investing at least 80% in a portfolio of equities (shares) and equity-type securities in companies based primarily in the UK, mainly doing business in the UK or listed on the UK stock market. The fund may also invest up to 20% in equities of non-UK based companies and non-sterling exposure will typically not be hedged back to sterling. Derivatives can be used for efficient portfolio management (including hedging to reduce currency risk). | This fund aims to maximise total return (income plus capital growth) over any 7-year period by investing at least 80% in a concentrated portfolio of equities (shares) and equity-type securities in companies based primarily in the UK, mainly doing business in the UK or listed on the UK stock market which meet the fund manager’s pre-defined sustainability criteria. The fund may also invest up to 20% in equities of non-UK based companies and non-sterling exposure will typically not be hedged back to sterling. Derivatives can be used for efficient portfolio management (including hedging to reduce currency risk). |
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. Investors could get back less than they pay in.
Investors will start to notice the changes on their plan statements, in our literature and on our website from 28 July 2022 onwards. The changes will be implemented gradually across our material, so they may notice both the old and new fund names and objectives in use for a time.
For more information on these funds, you can view the fund factsheet via the ‘Fund prices and performance’ page on our website and selecting ‘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/choosing-a-financial-adviser