Company: AEGOF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001193125-25-030100
Chunk: 10

Company: AEGON LTD.
Filing Date: 2025-02-20
Form: 6-K
Chunk 10
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 investment solutions in its affiliate business. Strategic developments Aegon AM continues to further simplify its activities in Global Platforms to improve efficiency and profitability. Its focus lies on three core competencies: alternative fixed income assets and real assets, being a recognized leader in responsible investing and helping partners with retirement and fiduciary solutions to build market leading retirement platforms. As a result, Aegon AM is rationalizing its product set and has taken cost reduction measures. Business update Net deposits Third-party net deposits in Global Platforms amounted to EUR 4.1 billion in the second half of 2024, compared with net outflows of EUR 47 million in the same period of 2023. The net deposits in the second half of 2024 were mostly driven by strong fund performance of alternative fixed income, which also benefited from the asset management partnership with a.s.r. The other main contributors to net deposits were retirement funds in the UK and the Netherlands, both driven by fixed income. Net deposits in Strategic Partnerships amounted to EUR 1.9 billion in the second half of 2024, compared with net outflows of EUR 2.1 billion in the same period last year, and were mainly driven by Aegon’s Chinese asset management joint venture, Aegon Industrial Fund Management Company (AIFMC). The net deposits were mostly from money market funds, mainly due to a collaboration with a consumer finance platform, and were partly offset by net outflows from mutual funds. Net deposits in La Banque Postale AM contributed to net deposits in Strategic Partnerships as well, despite the impact of continued withdrawals of low margin business from a former shareholder. 11

Net deposits from the General Account amounted to EUR 1.3 billion in the second half of 2024, compared with net deposits of EUR 1.9 billion in the prior year period. Net outflows from Affiliate amounted to EUR 3.8 billion in the second half of 2024, compared with net outflows of EUR 0.4 billion in the same period of 2023. The increase in net outflows resulted mainly from a fund modernization effort in the UK, which led to terminating a lower margin fund. The modernization is expected to drive additional inflows in future years. Annualized revenues gained / (lost) on net deposits Annualized revenues gained on net deposits for Global Platforms amounted to EUR 8.7 million in the second half of 2024, mainly driven by third-party net deposits. Assets under management Assets under management