Pru Life Henderson High Yield Monthly Income S4
Performance
Discrete Performance - to last month end
| 30/04/12 to 30/04/13 | 30/04/11 to 30/04/12 | 30/04/10 to 30/04/11 | 30/04/09 to 30/04/10 | 30/04/08 to 30/04/09 | |
|---|---|---|---|---|---|
| Fund | 11.70% | -2.15% | 4.33% | 55.10% | - |
| Sector | 11.65% | 0.44% | 5.22% | 34.60% | -16.86% |
| Rank | 78/161 | 147/153 | 108/143 | 10/128 | - |
| Quartile | 2 | 4 | 4 | 1 | - |
Annualised Performance
| 3Y | 5Y | 10Y | |
|---|---|---|---|
| Fund | 4.47% | - | - |
| Sector | 5.67% | 5.72% | 4.90% |
| Rank | 129/143 | - | - |
| Quartile | 4 | - | - |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| ZIGGO BOND CO 8% 15/05/18 REGS EUR | 2.90 |
| VIRGIN MEDIA FINANCE 8.875% 15/10/19 GBP | 2.44 |
| ALLIANCE BOOTS 12/12 (GBP) EXTENDED TLB4 | 2.08 |
| Daily Mail & General Trust 5.75% 2018 (Var) | 2.02 |
| INVESTEC BANK 9.625% 17/02/22 EMTN GBP | 1.93 |
| LEVI STRAUSS & CO 7.75% 15/05/18 EUR | 1.64 |
| Old Mutual 6.376% 24/03/2049 | 1.62 |
| SCOTTISH WIDOWS PLC 7% 16/06/2043 GBP | 1.57 |
| IRON MOUNTAIN 6.75% 15/10/18 EUR | 1.51 |
| HEATHROW FUNDING LTD 7.125% 14/02/2024 GBP EMTN | 1.51 |
| Total | 19.22 |
Fund Aims
The investment strategy of the fund is to purchase units in the Henderson Fixed Interest Monthly Income Fund. That fund aims to achieve a high yield by investing principally in fixed interest securities including preference shares.
Fund Manager
Jenna Barnard is Associate Director, Retail Fixed Income, and co-manages the Henderson Preference and Bond and Strategic Bond Funds alongside John Pattullo. Jenna joined Henderson Global Investors in 2002 as Credit Analyst, Assistant Portfolio Manager and progressed to Credit Portfolio Manager in 2004. Prior to joining Henderson, Jenna worked as an Investment Analyst with Orbitex Investments. Jenna is a CFA charterholder, and an affiliate member of UKSIP.
John Pattullo joined Henderson Global Investors in 1997 and is Director of Fixed Income, responsible for UK Retail. He co-manages the Henderson Preference & Bond Fund and the Henderson Strategic Bond Fund with Jenna Barnard. John previously spent four years as a chartered accountant at PricewaterhouseCoopers. John is a member of the Institute of Chartered Accountants of Scotland and an Associate Member of the Society of Investment Professionals.
Fund Overview
| Bid (23/05/2013) | 142.70 |
| Offer (23/05/2013) | 150.20 |
| Fund size | £0.15m |
| Underlying Fund size | £769.91m |
| Number of holdings | 226 |
| Annual management charge | 1.60% |
| Launch date | 20/10/2008 |
Equity Sector Allocation
| FTSE/ICB Supersector | % Weight |
|---|---|
| Bonds | 50.36 |
| High Yield Corporate Bond | 19.95 |
| Investment Grade Corp Bonds | 19.31 |
| Non-Classified | 12.41 |
| Telecommunications | 0.00 |
| Government | 0.00 |
| Real Estate | 0.00 |
| Cash and Equivalents | -2.03 |
Important Information
Source of portfolio data: FundsLibrary. Source of performance data: Financial Express Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price. Performance figures show total return with net income reinvested in GBP. The value of your investment may go down as well as up and the fund value may be less than the payments you have made.This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on www.pru.co.uk. Every care has been taken in populating this output, however it must be appreciated that neither Funds Library, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. The registered office of Prudential is at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454. The registered office of Prudential is at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454.
Asset Allocation
| UK Corporate Bonds | 50.72% | |
| International Bonds | 38.89% | |
| Money Market | 0.86% | |
| Cash and Equivalents | -2.89% | |
| Other | 12.41% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Basic Materials | 0.64% | - | - | - | |
| Chemicals | - | 0.64% | - | - | |
| Chemicals | - | - | 0.64% | - | |
| Specialty Chemicals | - | - | - | 0.64% | |
| Basic Resources | - | 0.00% | - | - | |
| Forestry & Paper | - | - | 0.00% | - | |
| Paper | - | - | - | 0.00% | |
| Consumer Goods | 0.65% | - | - | - | |
| Personal & Household Goods | - | 0.65% | - | - | |
| Tobacco | - | - | 0.65% | - | |
| Tobacco | - | - | - | 0.65% | |
| Personal Goods | - | - | 0.00% | - | |
| Personal Products | - | - | - | 0.00% | |
| Clothing & Accessories | - | - | - | 0.00% | |
| Food & Beverage | - | 0.00% | - | - | |
| Food Producers | - | - | 0.00% | - | |
| Food Products | - | - | - | 0.00% | |
| Consumer Services | 6.06% | - | - | - | |
| Media | - | 3.36% | - | - | |
| Media | - | - | 3.36% | - | |
| Publishing | - | - | - | 2.02% | |
| Broadcasting & Entertainment | - | - | - | 1.34% | |
| Retail | - | 1.80% | - | - | |
| Food & Drug Retailers | - | - | 1.14% | - | |
| Food Retailers & Wholesalers | - | - | - | 1.14% | |
| General Retailers | - | - | 0.67% | - | |
| Broadline Retailers | - | - | - | 0.67% | |
| Specialty Retailers | - | - | - | 0.00% | |
| Travel & Leisure | - | 0.90% | - | - | |
| Travel & Leisure | - | - | 0.90% | - | |
| Restaurants & Bars | - | - | - | 0.65% | |
| Hotels | - | - | - | 0.25% | |
| Financials | 13.37% | - | - | - | |
| Insurance | - | 5.25% | - | - | |
| Life Insurance | - | - | 4.98% | - | |
| Life Insurance | - | - | - | 4.98% | |
| Nonlife Insurance | - | - | 0.26% | - | |
| Full Line Insurance | - | - | - | 0.26% | |
| Financial Services | - | 3.22% | - | - | |
| Financial Services | - | - | 3.22% | - | |
| Specialty Finance | - | - | - | 2.86% | |
| Asset Managers | - | - | - | 0.30% | |
| Consumer Finance | - | - | - | 0.05% | |
| Banks | - | 2.82% | - | - | |
| Banks | - | - | 2.82% | - | |
| Banks | - | - | - | 2.82% | |
| Real Estate | - | 2.08% | - | - | |
| Real Estate Investment & Services | - | - | 1.10% | - | |
| Real Estate Services | - | - | - | 1.10% | |
| Real Estate Investment Trusts | - | - | 0.99% | - | |
| Industrial & Office REITs | - | - | - | 0.76% | |
| Retail REITs | - | - | - | 0.22% | |
| Health Care | 0.07% | - | - | - | |
| Health Care | - | 0.07% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 0.07% | - | |
| Biotechnology | - | - | - | 0.07% | |
| Industrials | 1.27% | - | - | - | |
| Industrial Goods & Services | - | 1.27% | - | - | |
| Industrial Transportation | - | - | 0.48% | - | |
| Marine Transportation | - | - | - | 0.48% | |
| Support Services | - | - | 0.43% | - | |
| Business Support Services | - | - | - | 0.43% | |
| Waste & Disposal Services | - | - | - | 0.00% | |
| General Industrials | - | - | 0.36% | - | |
| Diversified Industrials | - | - | - | 0.36% | |
| Containers & Packaging | - | - | - | 0.00% | |
| Oil & Gas | 0.03% | - | - | - | |
| Oil & Gas | - | 0.03% | - | - | |
| Oil & Gas Producers | - | - | 0.03% | - | |
| Oil & Gas Exploration & Production | - | - | - | 0.03% | |
| Technology | 0.07% | - | - | - | |
| Technology | - | 0.07% | - | - | |
| Technology Hardware & Equipment | - | - | 0.07% | - | |
| Semiconductors | - | - | - | 0.07% | |
| Software & Computer Services | - | - | 0.00% | - | |
| Computer Services | - | - | - | 0.00% | |
| Telecommunications | 1.25% | - | - | - | |
| Telecommunications | - | 1.25% | - | - | |
| Mobile Telecommunications | - | - | 0.76% | - | |
| Mobile Telecommunications | - | - | - | 0.76% | |
| Fixed Line Telecommunications | - | - | 0.49% | - | |
| Fixed Line Telecommunications | - | - | - | 0.49% | |
| Utilities | 0.66% | - | - | - | |
| Utilities | - | 0.66% | - | - | |
| Gas, Water & Multiutilities | - | - | 0.66% | - | |
| Multiutilities | - | - | - | 0.66% | |
| Equities | 0.00% | - | - | - | |
| Government | 0.00% | - | - | - | |
| Government | - | 0.00% | - | - | |
| Government | - | - | 0.00% | - | |
| Government | - | - | - | 0.00% | |
| Corporate Bonds | 15.20% | - | - | - | |
| Corporate Bonds | - | 15.20% | - | - | |
| Corporate Bonds | - | - | 15.20% | - | |
| Corporate Bonds | - | - | - | 15.20% | |
| Non-Classified | 62.77% | - | - | - | |
| Cash and Equivalents | -2.03% | - | - | - | |
Regional and Currency Allocation
| UK | 51.10% | |
| Developed Europe - Excl UK | 27.26% | |
| Non-Classified | 12.27% | |
| North America | 9.74% | |
| Australia & New Zealand | 0.54% | |
| Japan | 0.52% | |
| Other | -1.42% |
| Pound Sterling | 50.94% | |
| Euro | 29.28% | |
| Non-debt | 13.27% | |
| US Dollar | 8.34% | |
| Swiss Franc | 0.75% | |
| Swedish Krona | 0.30% | |
| Other | -2.89% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 51.10% | - | |
United Kingdom
|
- | 51.10% | |
| Developed Europe - Excl UK | 27.26% | - | |
Netherlands
|
- | 7.21% | |
Germany
|
- | 6.24% | |
Luxembourg
|
- | 6.12% | |
Ireland
|
- | 3.28% | |
France
|
- | 2.32% | |
Sweden
|
- | 0.94% | |
Switzerland
|
- | 0.69% | |
Belgium
|
- | 0.28% | |
Italy
|
- | 0.16% | |
Denmark
|
- | 0.03% | |
Iceland
|
- | 0.00% | |
| Non-Classified | 12.27% | - | |
| North America | 9.74% | - | |
United States
|
- | 9.74% | |
| Australia & New Zealand | 0.54% | - | |
Australia
|
- | 0.54% | |
| Japan | 0.52% | - | |
Japan
|
- | 0.52% | |
| Middle East & Africa | 0.39% | - | |
South Africa
|
- | 0.39% | |
| South & Central America | 0.22% | - | |
Jamaica
|
- | 0.22% | |
Argentina
|
- | 0.00% | |
| Cash and Equivalents | -2.03% | - | |
Breakdown By Market Cap (%)
| Mega |
|
0.00% |
| Large |
|
0.00% |
| Medium |
|
0.00% |
| Small |
|
0.00% |
| Micro |
|
0.00% |
| Non-Classified |
|
12.41% |
| Bonds |
|
89.61% |
| Cash |
|
-2.03% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
49.41% |
| 5Yr - 10Yr Maturity |
|
25.99% |
| 10Yr - 15Yr Maturity |
|
7.20% |
| > 15Yr Maturity |
|
7.01% |
| Cash And Equivalents |
|
-2.03% |
| Unknown |
|
6.99% |
| Other |
|
5.43% |
Fixed Interest Quality Profile
| AAA |
|
0.00% |
| AA |
|
0.00% |
| A |
|
6.39% |
| BBB |
|
22.82% |
| BB |
|
30.27% |
| B |
|
16.87% |
| CCC |
|
6.02% |
| Other |
|
17.62% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | ZIGGO BOND CO 8% 15/05/18 REGS EUR | 2.90% | Bonds | Netherlands |
| 2 | VIRGIN MEDIA FINANCE 8.875% 15/10/19 GBP | 2.44% | Bonds | United Kingdom |
| 3 | ALLIANCE BOOTS 12/12 (GBP) EXTENDED TLB4 | 2.08% | Non-Classified | Non-Classified |
| 4 | Daily Mail & General Trust 5.75% 2018 (Var) | 2.02% | Media | United Kingdom |
| 5 | INVESTEC BANK 9.625% 17/02/22 EMTN GBP | 1.93% | Bonds | United Kingdom |
| 6 | LEVI STRAUSS & CO 7.75% 15/05/18 EUR | 1.64% | Bonds | United States |
| 7 | Old Mutual 6.376% 24/03/2049 | 1.62% | Insurance | United Kingdom |
| 8 | SCOTTISH WIDOWS PLC 7% 16/06/2043 GBP | 1.57% | Bonds | United Kingdom |
| 9 | IRON MOUNTAIN 6.75% 15/10/18 EUR | 1.51% | Bonds | United States |
| 10 | HEATHROW FUNDING LTD 7.125% 14/02/2024 GBP EMTN | 1.51% | Bonds | United Kingdom |
Important Information
The Industry Classification Benchmark is a joint product of FTSE International Limited and Dow Jones & Company, Inc and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on www.pru.co.uk. Every care has been taken in populating this output, however it must be appreciated that neither Funds Library, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges.
Identification Codes
| Sedol Code | B3BW715 |
| Mex Code | PUNSTH |
| Isin Code | GB00B3BW7159 |
| Citi Code | D9D0 |
Charges
| Annual management charge | 1.60% |
Aims and Benchmark
| Benchmark | IMA £ Strategic Bond |
| ABI Sector | Sterling Strategic Bond |
| Aims | The investment strategy of the fund is to purchase units in the Henderson Fixed Interest Monthly Income Fund. That fund aims to achieve a high yield by investing principally in fixed interest securities including preference shares. |
Fund Background
| Launch date | 20/10/2008 |
Ratings
| OBSR |  |
| FE Crown |  |
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -2.02 |
| Beta | 1.17 |
| Sharpe | 0.17 |
| Standard Deviation | 5.81 |
| Info Ratio | -0.72 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Porfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilites | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital - Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
High Yield Bonds - The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
Value of Investments - The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term - Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Higher Risk - This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Derivative Exposure - The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Returns Are Not Guaranteed - What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation - Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief - Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by FundsLibrary. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Every care has been taken in populating this output, however it must be appreciated that neither Funds Library, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from it's usage. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges.
