On 13 June 2024, we’re closing the Aegon Ninety One Global Multi-Asset Sustainable Growth (BLK) fund, available as part of our Aegon TargetPlan fund range.
To prepare for this, on or around 11 June 2024, we’re switching current investors in this fund into the Aegon BlackRock ESG Strategic Growth (BLK) fund.
We’re writing to those affected to let them know about the closure.
Why the funds are closing
The underlying fund manager, Ninety One, has let us know it plans to merge the underlying fund with a fund we don’t offer, so we’ve decided to close our version of the fund.
More about the Aegon BlackRock ESG Strategic Growth (BLK) fund
We’ve chosen this fund as we believe it’s broadly similar in terms of where it invests and what it aims to do.
The fund aims to deliver over the long-term (over a period of seven years) a return of 4.5% per year (after charges) over the Bank of England’s Base Interest Rate in a manner consistent with the principles of environmental, social and governance (ESG)-focused investing. In addition, the fund aims to manage risk through active asset allocation with a view to having a lower volatility than the volatility of the monthly returns (converted into an annual rate) of the MSCI All Country World Index (GBP) over a 7-year period.
There’s no guarantee the fund will meet its objective. The value of an investment can fall as well as rise, isn’t guaranteed and you may get back less than you invest.
For more information you can view the fund factsheet on the ‘Fund prices and performance page’ and selecting ‘TargetPlan funds’.
What current investors need to do
If current investors are happy for their investment to move to the alternative 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 current investors wish to do this, they can view the funds available to their plan by logging into TargetPlan, selecting ‘Fund Information’ from the Dashboard and selecting the “Switch funds” button to make the switch.
If you would like more information, please speak to a financial adviser. If you don’t have a financial adviser, you can visit moneyhelper.org.uk/choosing-a-financial-adviser to find the right one for you.