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Aegon - Update

Due to the ongoing situation in Ukraine, a number of funds on the Aegon Platform have suspended trading.

What types of funds have suspended trading?

Mainly funds with significant exposure to Russian markets.

Why have they suspended trading?

Due to the escalating conflict between Russia and Ukraine, local and regional markets are not operating as they normally would (for example the Russian stock market has been closed in recent days) and it's currently impacting fund managers ability to trade in these markets.

What funds have been suspended?

The impacted funds (as at 12pm on 4 March 2022), the fund range they appear on and their ISIN code (fund identifier) are listed below:

Aegon Platform

  • JPM Emerging Europe Equity Fund C Net Accumulation (ISIN GB00B8DLLD51)
  • JPM Emerging Europe Equity Fund C - Net Income (ISIN GB00B5NK2V63)
  • Pictet - Russian Equities - I GBP (ISIN LU0859479239)
  • Liontrust Russia Fund C Acc GBP (ISIN GB00B86WB793)
  • BGF Emerging Europe Fund D2 GBP Hedged (ISIN LU0827876748)
  • Invesco Emerging European Fund (UK) Z (Inc) (ISIN GB00B8N46B73)
  • Invesco Emerging European Fund (UK) (Acc) (ISIN GB00B28J0X51)
  • Invesco Emerging European Fund (UK) Z (Acc) (ISIN GB00B8N46954)
  • Invesco Emerging European Fund (UK) Y (Acc) (ISIN GB00BJ04FT84)
  • Invesco Emerging European Fund (UK) Y (Inc) (ISIN GB00BJ04FV07)
  • Jupiter Emerging European Opportunities Fund L Acc (ISIN GB0031862534)
  • Jupiter Emerging European Opportunities Fund I Acc (ISIN GB00B45MWP75)
  • ASI Eastern European Equity Fund I Acc (ISIN GB00B3NC3D74)
  • Barings Eastern Europe Fund Class I GBP (ISIN IE00B4V4RZ28)
  • Barings Eastern Europe Fund I GBP Inc (ISIN IE00BZ2GS623)

What does this mean for current investors in these funds?

This means investors are currently unable to invest in, switch out or withdraw money from these funds until such time as the fund resumes trading.

What happens to regular payments into these funds?

Regular payments into impacted funds (including reinvested dividend payments) can continue however they will not be invested directly into the fund but instead applied to the individual cash facility.

What if I'm currently taking an income from these funds?

If you're currently taking regular withdrawals from your account, only hold impacted funds and there is no cash in your cash facility to cover withdrawals from the impacted funds, these withdrawals will have to stop until the fund suspension is lifted.

Where you are taking regular withdrawals and there are other funds in your account, they will continue to sell down the largest fund to meet these withdrawals (subject to funds being available) unless other sell down methods have been set up.

What about rebalances?

If you hold an impacted fund as part of your investment strategy and your portfolio experiences a rebalance, the impacted fund will be excluded, and the remaining funds will be rebalanced proportionally.

What happens to dividend income from impacted funds?

If you're currently receiving income from your product in the form of dividends, these will continue as normal if the impacted fund is able to pay dividends while suspended.

What do current investors need to do?

Aegon will be writing to those in affected funds in the next few days.

If you have any questions regarding this article, please contact us.

- uploaded - 14 March 2022

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Elson Associates does not offer advice as to the suitability of investments. If you are unsure whether an investment is suitable for you, you should obtain expert advice. Past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. You may not necessarily get back the amount you invested.

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