Aegon to invest in trio of LTAFs
Aegon has received regulatory approval to offer three long-term asset funds (LTAFs).
The three funds will provide exposure to private markets for the 700,000 savers in Aegon UK’s largest default fund, the Universal Balanced Collection (UBC).
Last month, Aegon Asset Management announced that its first LTAF – the CG Aegon AM Private Credit LTAF – had been granted regulatory approval by the Financial Conduct Authority (FCA).
From the second half of this year, members of Aegon UK’s UBC fund will have access to Aegon Asset Management’s private credit LTAF, which invests in corporate lending, fund financing, insured credit, renewables and asset-backed finance, and JP Morgan Asset Management’s bespoke strategy, which leverages the firm’s alternatives platform and offers exposure to private markets through private equity, infrastructure, transportation and forestry investments.
Since October 2024, BlackRock has managed a bespoke, diversified alternative private markets strategy for Aegon UK, including private equity, private debt, real estate and infrastructure.
Read more: Aegon AM private credit LTAF gains regulatory green light
“The success in receiving authorisation for all three LTAF’s marks real progress in offering our workplace pension members access to the best available asset classes, that are in line with our objective to provide better outcomes and value,” said Lorna Blyth, managing director of investment proposition at Aegon UK.
“This tangible action is in line with government objectives and will allow members to share in the successes of growth companies, as well as the higher returns expected from other alternative investments.
Read more: Aegon adds private markets to £12bn workplace default fund
“Our journey doesn’t end here – next up is our cornerstone investment into the British Growth Partnership, subject to regulatory approval, which will tap into the full commercial potential of world-class breakthrough technology companies based here in the UK.
“We are committed to maintaining our position as leaders in investment innovation, using our scale to access new asset classes and drive better member outcomes.”
Read more: M&G approved to launch private credit LTAF
