Aegon reduces AMC on new Global Opps fund

Aegon has cut the AMC on its newly-launched Global Opportunities fund for the first €150m under management.

The incentive, which reduces the annual management charge to 0.3%, expires after a two year period. Global Opportunities, a Dublin-domiciled Ucits III absolute return fund, is a global macro derivative strategy managed by Olaf van den Heuvel. Prior to launching the fund last month, Van den Heuvel deployed the global macro strategy across Aegon's insured funds, achieving annual returns of 67.8% in 2009, 57.4% in 2008 and 19.4% in 2007. "Olaf and his team have a proven ability in implementing discretionary global macro strategies," head of European distribution Martin Harris says. ...