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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.
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Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
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Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
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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.
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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.
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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.
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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.
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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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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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In the latest of our monthly edition of Soapbox Snippets, we round up some of the news from the world of sustainable investing.
EU Carbon Border Tax
Earlier this month, the EU launched their initial phase of the world’s first carbon border tariff scheme. The mechanism is intended to make the carbon price paid by importers the same as that paid by domestic companies.
For example, anyone selling steel, cement, aluminium, and other carbon intensive goods into the EU, will have to report the embedded emissions from the manufacturing of those products and then purchase certificates to cover these CO2 emissions.
The idea is to put foreign producers on a level playing field with EU industries that must already buy permits from the EU carbon market and ultimately stop more polluting foreign products from undermining its green transition.
Initially there will be limited financial impact: the bloc will not begin collecting any CO2 emission charges at the border until 2026. But certain goods and sectors will have to begin reporting their greenhouse gas emissions embedded during the production phase of products. We believe a well-functioning, global carbon tax is one of the best ways to properly reduce, regulate and incentivise a shift to lower carbon technologies.
Delays to UK corporate governance disclosures
Earlier this month, the UK government announced its decision to shelve reforms that would have strengthened corporate governance rules for large companies. The proposal came in wake of the collapses of Carillion, BHS, and Patisserie Valerie.
The ‘shelving’ from the government was in response to lobbying efforts by a coalition of individuals and companies within the financial services industry. Their argument revolved around the notion that implementing these reforms would bolster the competitiveness of the UK market. Additionally, they also voiced concerns regarding the roles of Pay and Stewardship in this matter.
Additionally, it is anticipated that the government will exclude a long-awaited legislation that will seek to replace the Financial Reporting Council with a more powerful regulator (the Audit, Reporting and Governance Authority). Again, initially proposed in wake of the various company collapses.
Unsurprisingly, all this news has elicited widespread disappointment within the investment industry. As articulated by Roger Barker, the Director of Policy and Governance at the Institute of Directors, this decision “places the government’s long-standing reforms of audit and corporate governance in disarray.”
One could say, it is ironic at a time when the FRC is imposing record fines on KPMG for their audit failures in the Carillion case, and in the same month that ex-CFO of Patisserie Valerie have appeared in court on fraud charges, that the reforms stemming from those very scandals are being significantly diluted.
Furthermore, as investors, it is also ironic for the UK government to advance on with enhanced Environmental and Social reporting requirements when they are abandoning them for Governance reporting.
Google’s data centres
Google has published details of its new system to reduce the energy consumption of its data centres in locations and times where the local power grid is in high stress.
When grid operators inform Google that electricity supplies will be constrained due to extreme weather or above average demand, Google’s new algorithm will reschedule non-urgent compute tasks until after the grid event. In some cases, the system will relocate tasks to other data centre locations. This builds on their previous efforts to move compute tasks to data centre locations on grids with an abundance of carbon-free energy.
By shifting energy-intensive data centre operations, Google is reducing peak energy demand and ensuring grid stability. Historically, an increase in demand would have been met with an increase in electricity supply – mostly fossil fuel-based. However, the net zero energy transition requires an increase in renewables which will require greater flexibility in both supply and demand. Google hopes their new system shows other big energy users, and not just those in the data centre world, that this sort of flexible demand response is possible.
A change of climate in the boardroom?
A recent PwC survey of more than 600 directors points to the necessity for a broader and deeper integration of ESG understanding within the boardroom.
The survey found that more than two-thirds of corporate boards lack a strong understanding of the ESG risks affecting their companies - a troubling stat amid a raft of forthcoming mandatory ESG disclosures. However, it also found that the percentage of directors that say their Board is prepared to oversee mandatory ESG disclosures more than doubled, from 25% in 2022 to 51% in 2023. It tells us that companies are more prepared for reporting on ESG, but still lack full comprehension of the impact ESG risks could have on their business. Is ESG still a tick-box exercise?
Especially interesting was the gender differential in views on ESG - female directors are more likely to see ESG issues as linked to company strategy, and 61% of female directors believe ESG issues have a financial impact on company performance compared to just 35% male directors.
What can companies do? Directors should seek to understand the internal controls and processes that support ESG within the business, and review how management can gain confidence through this data, especially in light of the evolving ESG regulatory landscape.
Can Tobacco Ever Be Green?
Stoptober has gathered momentum since 2012 as an opportunity to give up smoking for a month – and there are many well documented health benefits for doing so.
But the CEO of Philip Morris has recently claimed that his company is on its way to be an “ESG Stock” – could this ever be possible? The reason for this claim is that the company are moving heavily into e-cigarettes as a healthier alternative to smoking cigarettes. The risks do seem to be less than smoking cigarettes, but the World Health Organisation claims that smoking kills up to half its users who don’t quit – so the hurdle is not high!
It is doubtful that Philip Morris, or any other tobacco manufacturer, will be considered as an ESG stock any time soon!
This material is provided by Aegon Asset Management (Aegon AM) as general information and is intended exclusively for institutional and wholesale investors, as well as professional clients (as defined by local laws and regulation) and other Aegon AM stakeholders.
This document is for informational purposes only in connection with the marketing and advertising of products and services, and is not investment research, advice or a recommendation. It shall not constitute an offer to sell or the solicitation to buy any investment nor shall any offer of products or services be made to any person in any jurisdiction where unlawful or unauthorized. Any opinions, estimates, or forecasts expressed are the current views of the author(s) at the time of publication and are subject to change without notice. The research taken into account in this document may or may not have been used for or be consistent with all Aegon AM investment strategies. References to securities, asset classes and financial markets are included for illustrative purposes only and should not be relied upon to assist or inform the making of any investment decisions. It has not been prepared in accordance with any legal requirements designed to promote the independence of investment research, and may have been acted upon by Aegon AM and Aegon AM staff for their own purposes.
The information contained in this material does not take into account any investor's investment objectives, particular needs, or financial situation. It should not be considered a comprehensive statement on any matter and should not be relied upon as such. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to any particular investor. Reliance upon information in this material is at the sole discretion of the recipient. Investors should consult their investment professional prior to making an investment decision. Aegon Asset Management is under no obligation, expressed or implied, to update the information contained herein. Neither Aegon Asset Management nor any of its affiliated entities are undertaking to provide impartial investment advice or give advice in a fiduciary capacity forpurposes of any applicable US federal or state law or regulation. By receiving this communication, you agree with the intended purpose described above.
Past performance is not a guide to future performance. All investments contain risk and may lose value. This document contains "forward-looking statements" which are based on Aegon AM's beliefs, as well as on a number of assumptions concerning future events, based on information currently available. These statements involve certain risks, uncertainties and assumptions which are difficult to predict. Consequently, such statements cannot be guarantees of future performance, and actual outcomes and returns may differ materially from statements set forth herein.
The following Aegon affiliates are collectively referred to herein as Aegon Asset Management: Aegon USA Investment Management, LLC (Aegon AM US), Aegon USA Realty Advisors, LLC (Aegon RA), Aegon Asset Management UK plc (Aegon AM UK), and Aegon Investment Management B.V. (Aegon AM NL).Each of these Aegon Asset Management entities is a wholly owned subsidiary of Aegon N.V. In addition, Aegon Private Fund Management (Shanghai) Co., a partially owned affiliate, may also conduct certain business activities under the Aegon Asset Management brand.
Aegon AM UK is authorised and regulated by the Financial Conduct Authority (FRN: 144267) and is additionally a registered investment adviser with the United States (US) Securities and Exchange Commission (SEC). Aegon AM US and Aegon RA are both US SEC registered investment advisers.