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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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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.
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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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Risk notice - Capital risk. The value of investments can go down as well as up and is not guaranteed.
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Around this time last year, we wrote an article about the amount of energy used and waste generated during the mass purchasing frenzy that is Black Friday. This year, we thought it would be interesting to look at this ‘cultural’ event from another angle – what happens to all the returns?
Statistics from last year show that sales of goods are reducing, although the total amount of sales is still an enormous number. From a sustainable standpoint, one aspect of this activity is a concern; research from Royal Mail in 2018 found that over 50% of all clothes bought online and 42% of electrical goods are actually returned.
In term of clothes shopping, consumers understandably want to ‘try before they buy’ although it is becoming less common to do so in a shop, partly because shop floor space has reduced due to the structural shift from the high street to online. The convenience of getting your purchase delivered to your door, and then having the ability to try on new clothes in the privacy of your own home, is more appealing than a shop changing room. There is a cost though; the fact of the matter is that returns become harder to process and therefore create a new area of concern for many retailers. A report by Rebound showed that in 2022 there was a 26.6% increase in returns compared to 2021, while the costs associated with processing these returns continues to rise.
It is difficult to ascertain the scale of resale of returned goods and there are some good practices such as Marks & Spencer’s new click-and-return service that avoids the need to stand in long queues (and additionally benefits the retailer as the returned goods can be put back on sale a lot quicker). In clothing in particular, seasons are short, so even if a garment is returned within a 30-day period it will have lost value if the season is changing. At the extreme end of fast fashion, a season is only six weeks, so many items in this area are not worth trying to resell. At the same time, some consumers are not particularly honest and will wear an item with its labels on and then return it, meaning it is not suitable for going straight back on the shop floor or website.
In the late 2010s a number of retailers were publicly criticised for sending goods straight to landfill – which is obviously the worst possible outcome in terms of sustainability for unwanted goods. The fact that retailers are trying hard to work around this situation in a number of novel ways would suggest it could become an area of competitive advantage.
There are a number of different retailers trying different methods – from setting up their own e-commerce ‘shops’ to the likes of Nordstrom and Patagonia having whole areas of their business focused on “pre-loved” garments. However, a growing number of third parties, individuals or small businesses are buying up pallets of returned items and reselling them on e-commerce sites such as Ebay and Vinted. This is an area previously inhabited by large organisations such as TK Maxx. In the US, the likes of Target, Macys and Amazon sell returned items on to these third party sellers by pallet or truckload. This means that each one can be a bit of a lottery for the buyer – but enough of them seem to be profitable to drive growth in these businesses.
It is clear the evolution of retail is still working its way through how best to balance the shop floor and website – and it will be interesting to watch how this continues to change. However, it is also clear that the current level of returns is not sustainable in so many ways. So maybe pause for a minute before clicking on those hard to resist bargains – for the good of your pocket and the environment.
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 Ltd. 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.