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This site is intended only for non-US professional investors or US-based fiduciaries representing non-US investors eligible to invest in Aegon Asset Management’s (the “Company”) UCITS funds. This site, and the funds described herein, are not suitable for individual investors.
The following information regarding the Company’s funds is for informational purposes only and does not constitute an offer for shares, products or services and should not be interpreted as an offer to sell, an invitation to acquire an investment, or a solicitation of an offer to buy for any persons who are prohibited from receiving such information under their domiciled local laws.
Aegon Asset Management Investment Company (Ireland) Plc is structured as an umbrella type open-ended investment company with variable capital consisting of a number of different sub-funds (“Funds”) and is authorized in Ireland pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) UCITS Regulations and the Central Bank UCITS Regulations (“UCITS Regulations"). Aegon Asset Management Europe ICAV is structured as an umbrella type open-ended investment ICAV with variable capital consisting of Funds and is authorized in Ireland as a UCITS pursuant to the UCITS Regulations.
These Funds are registered in Ireland and are available only to residents of those jurisdictions where allowed by law. Investors that do not meet these requirements will be denied access by the Company.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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If you are a retail investor, we recommend that you seek qualified financial advice before making any investment decisions.
You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
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You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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Attention aux fraudeurs se faisant passer pour Aegon Asset Management, d’autres institutions financières et organismes de régulation: Nous avons reçu plusieurs signalements de fraudeurs se faisant passer pour Aegon AM et d’autres entreprises en créant de faux sites web, de fausses publicités et de fausses adresses mail. Pour en savoir plus sur la manière de vous protéger contre ces escroqueries et comment signaler un comportement suspect,veuillez lire ce qui suit.
If you are a retail investor, we recommend that you seek qualified financial advice before making any investment decisions.
You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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If you are a retail investor we recommend that you take qualified financial advice before making any investment decisions. You can obtain the latest prospectus, accounts, Key Investor Information and fund prices at www.aegon.nl.
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You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
This is a marketing communication. Please refer to the Legal documents of the Fund(s), such as the KIID and/or prospectus, before making any final investment decisions.
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This Website and all information contained herein is intended for exclusive use of qualified investors as defined in the Federal Act on Collective Investment Schemes of 23 June 2006 (the “CISA”) and in its implementing ordinance, which have their residence or registered office in Switzerland (the “Qualified Investors”), excluding opt up Qualified investors.
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If you are not a Qualified Investor or are an opt up Qualified Investor under CISA with residence or registered office in Switzerland, we recommend you consult a financial adviser before making any investment decisions.
You can get the current prospectuses, accounts, important information for investors and fund prices at https://www.fundinfo.com. Please click the accept button and select the county in which you live and identify yourself as a private investor.
Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
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This material does not constitute an offer of products or securities in any country listed above or in any jurisdiction within Latin America and should not be construed as such. Unless otherwise indicated, no regulator or government authority has reviewed the content or the merits of any products and services referenced or implied herein. This material is being made available only to the extent it is in accordance with the restrictions and/or limitations implemented by any applicable laws and regulations. Information is directed at and intended only for institutional investors and their advisers for informational purposes and may not be reproduced in any form. Before acting on any information provided herein, prospective investors should inform themselves of, and observe, all applicable laws, rules and regulations of any relevant jurisdictions and obtain independent advice if required.
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Understanding the potential impact of climate change and the interaction between different stakeholders, initiatives, metrics, and tools presents challenges. There is a growing need for investors to understand the risks and opportunities that come with climate change and their impact on investment portfolios. Supervisory bodies across Europe are raising the bar and expect institutional investors to assess and understand whether and to what extent they are exposed to these types of upcoming risks. As a fiduciary manager we help our clients to further integrate climate-related considerations into the investment processes. Our approach is forward looking, transparent and comes with a high degree of flexibility. We support clients by putting things into the right perspective, interpreting outputs, and designing a path to improve portfolios’ resilience.
Written by Gertjan Medendorp and Anna Czylok, Aegon Asset Management.
In this paper we argue that although the actual pathway that the economy will follow is unknown, we know with certainty that there is no ‘business as usual’ scenario where climate does not play a role eventually.
Transition and physical risks are relevant and will result in varying degrees of risk. The physical risks caused by climate change arise due to real-world environmental hazards, such as an increase in severity and frequency of extreme weather events. These physical risks have both real-world and financial implications due to, for example, supply chain disruptions, changes in commodity prices, and physical damage to assets. Most likely climate change is already affecting the financial sector in many ways and the effects could increase significantly. Transitioning away from fossil fuels and carbon-intensive production and consumption requires a significant shift towards zero -emission alternatives across the globe. This gives rise to transition risks for the economy and financial markets.
An important consideration for investors when weighting up transition risk against physical risks is that physical risk resulting from climate change cannot be reversed. It will keep increasing in magnitude if the transition towards a net-zero economy is not timely and the results would be disastrous.
Climate risks are complex and there are many dimensions to consider, such as time horizon and loss metrics. Besides, projecting the impact of events that are historically unknown is challenging. Scenario analysis can be helpful in gaining understanding of how different asset classes, countries and sectors are impacted by climate-related financial risk.
We have been servicing multiple clients in their endeavours to understand the potential impact of climate change on their investment portfolio. In this journey we have developed our own proprietary methodology supplemented with tooling from external vendors and data providers. The box below summarizes some key observations from our research.
Transition risks
The transition will likely lead to large differences across and within industries. Investors should not forget that it could bring significant opportunities too.
The cumulative projected impact of transition risks can be significant on a 20 to 30 year horizon.
Year on year, investors can still expect to earn a positive return on their investments.
A disorderly transition could offset the expected additional return of risky assets, particularly when climate policy implementation is unanticipated. This is especially true if climate risks are not correctly priced into the financial markets.
It seems that emerging markets are more exposed to transition risks than developed markets. On the other hand, the expected additional profit growth in emerging markets versus developed markets provides quite some room to offset the potential negative aggregated impact of transition risks.
Physical risks
Financial impacts from physical climate risk could arise from both an increase in the frequency and severity of extreme weather events, and gradual rising temperatures.
Another aspect to consider is the uncertainty that extreme weather events bring about and its effect on (real) interest rates and risk premia. Given a greater unpredictability with respect to future (economic) outcomes and depending on the risk aversion, people might increase their saving rate in anticipation of more dire conditions in the times ahead. This implies lower current consumption and demand for credit, and results in a downward pressure on interest rates.
From an investor perspective, companies’ exposure to physical risk and subsequently long-term valuation will necessarily be subject to larger margins of error giving a rise to higher required compensation for risk.
Particularly at risk are those companies with locations in climate-sensitive regions, or with long-lived fixed assets. Fixed-income investors are better positioned to bear the risks of capital destruction and climate costs caused by extreme weather events based on the capital structure of the companies.