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Cautious Lifestyle

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					                                                                                                                                                             Pensions         Investments                  Protection



For customers

Cautious Lifestyle


Pension fund factsheet for the period ending 30 September 2010                                                                                                      Fund performance shown is for our standard
                                                                                                                                                                    fund, subject to the yearly charge, stated
                                                                                                                                                                    below. Other price variants may have a
                                                                                                                                                                    different yearly charge and performance.


Fund description
The Cautious lifestyle fund uses a two-stage                                       income distributions by investing in UK equities and
investment process. In the first stage it aims to                                  corporate bonds through our Distribution fund. It
build the client’s pension fund over the long-term.                                may also invest in gilts (both conventional and                             volatility and maintain the annuity buying power of
Then in the second stage, as the chosen retirement                                 index-linked) and, on occasion, invest overseas.                            the fund. We also take into account the investor’s
date approaches, we look to help protect the fund’s                                                                                                            tax-free cash entitlement by switching part of the
                                                                                   Second stage: As retirement approaches, in this                             fund into cash over the final two years (the
annuity buying power, as well as taking into account
                                                                                   case six years from the chosen retirement date, the                         maximum tax-free cash entitlement is currently 25%
the client’s tax-free cash entitlement.
                                                                                   fund will be switched, systematically and                                   - and we assume the investor will take the
First stage: The fund aims to provide a balance                                    progressively, into long gilts. This is designed to                         maximum).These switches happen automatically
between long-term capital growth and competitive                                   protect the value of the fund from equity market                            every month and are free from switching charges.


Benchmark: ABI Cautious Managed pension sector median

Performance
                                             3 mths                      1 yr               3yrs                5yrs           10yrs              Q4 2009 -     Q4 2008 -     Q4 2007 -          Q4 2006 -      Q4 2005 -
                                               (%)                       (%)               (% pa)              (% pa)          (% pa)             Q3 2010 -     Q3 2009 -     Q3 2008 -          Q3 2007 -      Q3 2006 -
Fund                                               8.7                   11.0                       3.9         4.5             2.7                   11.0        12.6             -10.3            2.5             8.4
Sector median                                      6.1                   9.1                        2.4         4.1             3.6                   9.1         10.0             -11.7            4.8             8.1

All data to 30 September 2010. Please note: where figures are not shown data is not available. Figures in £’s on a bid-to-bid basis with gross income reinvested to 30 September 2010.


Relative risk                                                                      Performance graph                                                           Asset allocation                                              %
Based only on defined objectives and position                                                                           Fund            Sector                 UK Equities                                                41.4
within our fund range, each AEGON Scottish                                                           30
                                                                                                                                                               Overseas Equities                                           0.5
Equitable fund has been allocated a risk
classification. The six risk levels are shown below.                                                                                                           UK Fixed Interest                                          24.5
                                                                                                     20
This funds current position is highlighted in blue.                                                                                                            Overseas Bonds                                             19.8
                                                                                                                                                               Other                                                       5.3
                                                                                   Total Return %




                                                                                                     10
                                                                                                                                                               Cash                                                        8.4
                                                         Above average
                         Below average


                                         Average
   Minimal




                                                                          Higher
              Low




                                                                                                      0

                                                                                                                                                               Top holdings                                                  %
                                                                                                    -10
                                                                                                                                                               HSBC Hldgs Ord Usd0.50(UK Reg)                              2.9
                                                                                                                                                               BP Ord Usd0.25                                              2.3
                                                                                                    -20
Fund risk classifications are reviewed regularly and                                                  Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10                Vodafone Group Ord Usd0.11428571                            1.9
can change.
                                                                                                                                                               Rio Tinto Ord GBP0.10                                       1.8
                                                                                   Fund information (standard fund only)                                       GlaxoSmithKline Ord GBP0.25                                 1.6
                                                                                                                                                               Euro Inv Bank 5.625% 7/6/2032 GBP(Var                       1.5
General information                                                                    Sector                                  Cautious Managed-Pen

Past performance is no guarantee of future                                                                                                                     AstraZeneca Ord Usd0.25                                     1.5
                                                                                       Fund Size (£ million)                   £230.3
performance and the value of investments can go                                                                                                                Xstrata Plc Ord Usd0.50                                     1.4
                                                                                       Launched                                20-Dec-1999
down as well as up.                                                                                                                                            Brit Amer Tobacco Ord GBP0.25                               1.4
All figures are sourced Lipper on a total return                                       Disclosable yearly
                                                                                                                               1.00%                           Royal Dutch Shell ’B’Ord Eur0.07                            1.4
                                                                                       charge/expenses
basis. Periods of greater than one year use
annualised compound return.                                                            SEDOL/Mex ID                            3040326 / SECL




AEGON is a brand name of Scottish Equitable plc. Scottish Equitable plc, Registered Office: Edinburgh Park, Edinburgh EH12 9SE.
Registered in Scotland (No. 144517). Authorised and regulated by the Financial Services Authority. An AEGON Company. www.aegon.co.uk
                                                                                                                                                                                           We’re proud to be the
                                                                                                                                                                                           Lead Partner of British Tennis.
01/11/10

				
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