Prudential Global Equity S3

Essentials Portfolio Analysis Background Data Prudential Risk Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to latest available quarter end

30/09/15
to
30/09/16
30/09/16
to
30/09/17
30/09/17
to
30/09/18
30/09/18
to
30/09/19
30/09/19
to
30/09/20
Fund 19.0% 15.7% 8.3% 0.4% -9.4%
Benchmark 18.3% 13.6% 6.9% 3.7% -10.3%

Performance - to latest available quarter end

Quarter Annualised
3
2020
3 Years to
30/09/20
5 Years to
30/09/20
10 Years to
30/09/20
Fund 0.2% -0.5% 6.3% 7.0%
Benchmark -1.0% -0.2% 6.0% 6.8%

Top 10 Holdings

Stock % Weight
PPL N AMER US EQTY Prvt 12.38
ASTRAZENECA 2.59
HSBC HLDGS 1.58
BP 1.40
UNILEVER 1.37
RIO TINTO 1.34
GLAXOSMITHKLINE 1.24
ROYAL DUTCH SHELL 1.12
BRITISH AMERICAN TOBACCO 1.09
RECKITT BENCKISER GROUP 1.05
Total 25.17

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP Global Equity Fund - the underlying fund.

Underlying Fund Objective: The fund provides an all-equity approach to investment, holding a 60% UK equity and 40% mix of overseas company shares. For the overseas shares the fund is actively managed against an internal composite benchmark asset allocation set by the M&G Treasury & Investment Office (T&IO). It is a “fund of funds” where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value.

Performance Objective: To outperform the internal composite benchmark by 1.0% a year (before charges) on a rolling three year basis.

Fund Manager

M&G Treasury & Investment Office manager of the underlying fund for 28 years and 6 months

Photo of M&G Treasury & Investment Office With access to investment professionals around the world and assets under management of £178bn, the M&G Treasury & Investment Office (T&IO) has a broad and well-resourced investment capability. T&IO set the strategic asset allocation and undertakes the ‘manager of managers’ role for our insured funds. Over the years they have built a thorough and effective governance framework, which includes the setting and monitoring of investment mandates, regular performance and activity health checks and independent analysis of investment, credit and liquidity risks.

Fund Overview

Daily price (30/11/2020) 342.50
Fund size (30/09/2020) £66.09m
Underlying Fund size £118.04m
Number of holdings 1028
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 06/04/2001

Asset Allocation

pie chart
  UK Equities 45.55%
  International Equities 18.35%
  Cash and Equivalents 2.12%
  Investment Trusts 1.08%
  Property 0.83%
  Money Market 0.10%
  Other Assets 31.97%

Performance comment

Performance as at Q2 2020 - Following notable weakness in the first three months of the year due to the coronavirus pandemic, equity markets rebounded strongly in the most recent quarter as investors welcomed central bank stimulus measures and government support.

April and May saw particularly strong stockmarket returns as the virus appeared to peak in many developed countries, with declining numbers of cases in some areas, which prompted the gradual reopening of economies. Equity returns during the quarter were strong enough in some regional equity markets to bring the year-to-date returns into positive territory. However, the pace of stockmarket gains eased in June as investors contemplated the information about the ongoing virus crisis and renewed outbreaks in certain regions.

The fund made robust gains in the quarter, but was slightly behind the index and also behind the comparator. All main geographic equity markets rallied strongly, led by the US, followed by Pacific markets, Europe and emerging markets. Japan and the UK produced more moderate gains, all in sterling terms. Stock selection in the UK supported returns, while it held back returns in other regional markets.

The outlook regarding both the virus and the global economy remains uncertain. Across the world, the virus epidemic continues to flare up in isolated pockets, requiring further government action in response. In some cases, countries have not yet brought the outbreak under control, such as India, Brazil and to some extent the United States.

Against this backdrop, indicators suggest the global economy will contract by an unprecedented amount compared with recent history, although forecasts suggest that the global recovery will be faster than in previous recessions. Economic sentiment appears to be tentatively improving although significant risks exist that could seriously derail any recovery with the potential for a second wave of the virus a real concern.

In the fund management team’s opinion, should any meaningful flare-up in the virus occur, aside from the dreadful cost on a human level, the reaction and subsequent lockdown by global authorities will be paramount. The team will also keep a close eye on developments in the search for successful vaccines.

Source: M&G

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.

This factsheet is intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  UK Equities 45.55%
  International Equities 18.35%
  Cash and Equivalents 2.12%
  Investment Trusts 1.08%
  Property 0.83%
  Money Market 0.10%
  Other Assets 31.97%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Non-Classified 32.27% - - -
 
Non-Classified - 18.83% - -
 
Non-Classified - - 18.83% -
 
Non-Classified - - - 18.83%
 
Financials 12.34% - - -
 
Banks - 4.67% - -
 
Banks - - 4.67% -
 
Banks - - - 4.67%
 
Financial Services - 4.57% - -
 
Investment Banking & Brokerage Services - - 2.92% -
 
Asset Managers & Custodians - - - 1.77%
 
Investment Services - - - 0.90%
 
Diversified Financial Services - - - 0.25%
 
Equity Investment Instruments - - 1.08% -
 
Equity Investment Instruments - - - 1.08%
 
Finance & Credit Services - - 0.58% -
 
Mortgage Finance - - - 0.56%
 
Consumer Lending - - - 0.02%
 
Insurance - 3.10% - -
 
Life Insurance - - 1.83% -
 
Life Insurance - - - 1.83%
 
Non-life Insurance - - 1.26% -
 
Property & Casualty Insurance - - - 0.81%
 
Full Line Insurance - - - 0.33%
 
Reinsurance - - - 0.12%
 
Industrials 10.81% - - -
 
Industrial Goods & Services - 9.01% - -
 
Industrial Support Services - - 3.53% -
 
Professional Business Support Services - - - 2.08%
 
Industrial Suppliers - - - 0.56%
 
Business Training & Employment Agencies - - - 0.44%
 
Transaction Processing Services - - - 0.27%
 
Security Services - - - 0.18%
 
General Industrials - - 1.79% -
 
Diversified Industrials - - - 1.17%
 
Containers & Packaging - - - 0.55%
 
Plastics - - - 0.07%
 
Industrial Transportation - - 1.24% -
 
Commercial Vehicle-Equipment Leasing - - - 0.47%
 
Marine Transportation - - - 0.30%
 
Transportation Services - - - 0.19%
 
Delivery Services - - - 0.10%
 
Commercial Vehicles & Parts - - - 0.06%
 
Trucking - - - 0.06%
 
Railroad Equipment - - - 0.05%
 
Railroads - - - 0.01%
 
Electronic & Electrical Equipment - - 1.07% -
 
Electrical Components - - - 0.50%
 
Electronic Equipment: Control & Filter - - - 0.42%
 
Electronic Equipment: Gauges & Meters - - - 0.15%
 
Industrial Engineering - - 0.76% -
 
Machinery: Industrial - - - 0.57%
 
Machinery: Construction & Handling - - - 0.14%
 
Machinery: Tools - - - 0.03%
 
Machinery: Specialty - - - 0.01%
 
Machinery: Engines - - - 0.01%
 
Aerospace & Defence - - 0.61% -
 
Defense - - - 0.37%
 
Aerospace - - - 0.25%
 
Construction & Materials - 1.80% - -
 
Construction & Materials - - 1.80% -
 
Cement - - - 0.52%
 
Building Materials: Other - - - 0.39%
 
Construction - - - 0.32%
 
Building, Roofing/Wallboard & Plumbing - - - 0.31%
 
Engineering & Contracting Services - - - 0.25%
 
Building: Climate Control - - - 0.01%
 
Health Care 8.48% - - -
 
Health Care - 8.48% - -
 
Pharmaceuticals & Biotechnology - - 7.08% -
 
Pharmaceuticals - - - 5.98%
 
Biotechnology - - - 1.10%
 
Medical Equipment & Services - - 0.95% -
 
Medical Equipment - - - 0.71%
 
Medical Supplies - - - 0.24%
 
Health Care Providers - - 0.45% -
 
Health Care: Misc. - - - 0.30%
 
Health Care Services - - - 0.13%
 
Health Care Facilities - - - 0.03%
 
Consumer Staples 7.88% - - -
 
Food, Beverage & Tobacco - 4.53% - -
 
Tobacco - - 1.53% -
 
Tobacco - - - 1.53%
 
Food Producers - - 1.51% -
 
Food Products - - - 1.48%
 
Farming, Fishing, Ranching & Plantations - - - 0.04%
 
Beverages - - 1.49% -
 
Distillers & Vintners - - - 0.99%
 
Soft Drinks - - - 0.32%
 
Brewers - - - 0.17%
 
Personal Care, Drug & Grocery Stores - 3.35% - -
 
Personal Care, Drug & Grocery Stores - - 3.35% -
 
Personal Products - - - 1.56%
 
Nondurable Household Products - - - 1.05%
 
Food Retailers & Wholesalers - - - 0.71%
 
Miscellaneous Consumer Staple Goods - - - 0.02%
 
Consumer Discretionary 7.79% - - -
 
Consumer Products & Services - 2.76% - -
 
Household Goods & Home Construction - - 1.16% -
 
Home Construction - - - 1.09%
 
Household Equipment & Products - - - 0.05%
 
Household Appliance - - - 0.03%
 
Personal Goods - - 0.69% -
 
Clothing & Accessories - - - 0.37%
 
Cosmetics - - - 0.14%
 
Footwear - - - 0.11%
 
Luxury Items - - - 0.08%
 
Consumer Services - - 0.52% -
 
Vending & Catering Service - - - 0.35%
 
Consumer Services: Misc. - - - 0.12%
 
Funeral Parlors & Cemetery - - - 0.03%
 
Education Services - - - 0.02%
 
Leisure Goods - - 0.38% -
 
Toys - - - 0.36%
 
Electronic Entertainment - - - 0.02%
 
Travel & Leisure - 1.61% - -
 
Travel & Leisure - - 1.61% -
 
Casinos & Gambling - - - 0.71%
 
Travel & Tourism - - - 0.40%
 
Restaurants & Bars - - - 0.18%
 
Hotels & Motels - - - 0.16%
 
Airlines - - - 0.14%
 
Recreational Services - - - 0.02%
 
Media - 1.55% - -
 
Media - - 1.55% -
 
Publishing - - - 0.83%
 
Media Agencies - - - 0.47%
 
Radio & TV Broadcasters - - - 0.25%
 
Retail - 1.46% - -
 
Retailers - - 1.46% -
 
Apparel Retailers - - - 0.52%
 
Specialty Retailers - - - 0.43%
 
Home Improvement Retailers - - - 0.33%
 
Diversified Retailers - - - 0.17%
 
Automobiles & Parts - 0.41% - -
 
Automobiles & Parts - - 0.41% -
 
Automobiles - - - 0.32%
 
Tires - - - 0.08%
 
Auto Parts - - - 0.01%
 
Basic Materials 5.05% - - -
 
Basic Resources - 3.92% - -
 
Industrial Metals & Mining - - 3.32% -
 
General Mining - - - 2.79%
 
Copper - - - 0.33%
 
Metal Fabricating - - - 0.07%
 
Iron & Steel - - - 0.06%
 
Nonferrous Metals - - - 0.06%
 
Aluminum - - - 0.01%
 
Precious Metals & Mining - - 0.38% -
 
Gold Mining - - - 0.33%
 
Platinum & Precious Metals - - - 0.04%
 
Diamonds & Gemstones - - - 0.01%
 
Industrial Materials - - 0.23% -
 
Paper - - - 0.20%
 
Forestry - - - 0.02%
 
Diversified Materials - - - 0.01%
 
Chemicals - 1.12% - -
 
Chemicals - - 1.12% -
 
Chemicals: Diversified - - - 0.60%
 
Specialty Chemicals - - - 0.52%
 
Fertilizers - - - 0.01%
 
Energy 3.89% - - -
 
Energy - 3.89% - -
 
Non-Renewable Energy - - 3.73% -
 
Integrated Oil & Gas - - - 3.16%
 
Oil: Crude Producers - - - 0.38%
 
Coal - - - 0.06%
 
Oil Equipment & Services - - - 0.05%
 
Oil Refining and Marketing - - - 0.05%
 
Pipelines - - - 0.03%
 
Offshore Drilling & Other Services - - - 0.01%
 
Renewable Energy - - 0.16% -
 
Renewable Energy Equipment - - - 0.16%
 
Technology 3.61% - - -
 
Technology - 3.61% - -
 
Software & Computer Services - - 2.17% -
 
Consumer Digital Services - - - 1.12%
 
Software - - - 0.79%
 
Computer Services - - - 0.27%
 
Technology Hardware & Equipment - - 1.43% -
 
Semiconductors - - - 0.57%
 
Computer Hardware - - - 0.42%
 
Production Technology Equipment - - - 0.26%
 
Electronic Components - - - 0.19%
 
Utilities 2.54% - - -
 
Utilities - 2.54% - -
 
Gas, Water & Multi-utilities - - 1.60% -
 
Multi-Utilities - - - 1.12%
 
Water - - - 0.46%
 
Gas Distribution - - - 0.02%
 
Electricity - - 0.94% -
 
Conventional Electricity - - - 0.88%
 
Alternative Electricity - - - 0.07%
 
Cash and Equivalents 2.12% - - -
 
Real Estate 1.61% - - -
 
Real Estate - 1.61% - -
 
Real Estate Investment Trusts - - 1.07% -
 
Industrial REITs - - - 0.25%
 
Diversified REITs - - - 0.24%
 
Office REITs - - - 0.17%
 
Retail REITs - - - 0.12%
 
Residential REITs - - - 0.12%
 
Health Care REITs - - - 0.11%
 
Storage REITs - - - 0.04%
 
Other Specialty REITs - - - 0.04%
 
Real Estate Investment & Services - - 0.54% -
 
Real Estate Holding and Development - - - 0.43%
 
Real Estate Services - - - 0.11%
 
Telecommunications 1.52% - - -
 
Telecommunications - 1.52% - -
 
Telecommunications Service Providers - - 1.29% -
 
Telecommunications Services - - - 1.29%
 
Telecommunications Equipment - - 0.23% -
 
Telecommunications Equipment - - - 0.23%
 
Bonds 0.06% - - -
 
Alternative Trading Strategies 0.04% - - -
 
Alternative Trading Strategies - 0.04% - -
 
Alternative Trading Strategies - - 0.04% -
 
Alternative Trading Strategies - - - 0.04%

Regional Allocation

pie chart
  UK 45.58%
  Non-Classified 33.21%
  Developed Europe - Excl UK 13.09%
  Cash and Equivalents 2.22%
  Emerging Asia 1.64%
  North America 0.98%
  Other Regions 3.27%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 97.82%
  Cash 2.12%
  Swedish Krona 0.03%
  Pound Sterling 0.02%
  Swiss Franc 0.02%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 45.58% -
 
United Kingdom - 45.58%
 
Non-Classified 33.21% -
 
Developed Europe - Excl UK 13.09% -
 
Switzerland - 2.34%
 
France - 2.20%
 
Germany - 2.08%
 
Ireland - 1.85%
 
Netherlands - 1.37%
 
Sweden - 0.80%
 
Spain - 0.57%
 
Denmark - 0.57%
 
Italy - 0.43%
 
Finland - 0.32%
 
Belgium - 0.25%
 
Norway - 0.13%
 
Luxembourg - 0.10%
 
Portugal - 0.04%
 
Austria - 0.04%
 
Cash and Equivalents 2.22% -
 
Emerging Asia 1.64% -
 
South Korea - 0.68%
 
China - 0.32%
 
Taiwan - 0.28%
 
India - 0.12%
 
Indonesia - 0.10%
 
Philippines - 0.09%
 
Pakistan - 0.04%
 
North America 0.98% -
 
United States - 0.72%
 
Canada - 0.27%
 
Property 0.83% -
 
Australia & New Zealand 0.76% -
 
Australia - 0.76%
 
Developed Asia 0.52% -
 
Hong Kong - 0.51%
 
Singapore - 0.01%
 
South & Central America 0.48% -
 
Mexico - 0.27%
 
Brazil - 0.20%
 
Emerging Europe 0.45% -
 
Russian Federation - 0.24%
 
Turkey - 0.10%
 
Poland - 0.05%
 
Hungary - 0.03%
 
Greece - 0.02%
 
Czech Republic - 0.02%
 
Middle East & Africa 0.23% -
 
South Africa - 0.19%
 
Israel - 0.02%
 
Zambia - 0.01%

Breakdown By Market Cap (%)

Mega
 
 
27.33%
Large
 
 
13.89%
Medium
 
 
13.21%
Small
 
 
6.36%
Micro
 
 
2.38%
Non-Classified
 
 
34.66%
Bonds
 
 
0.06%
Cash
 
 
2.12%

Top 10 Holdings

Stock % Weight Sector Country
1 PPL N AMER US EQTY Prvt 12.38% Non-Classified Non-Classified
2 ASTRAZENECA 2.59% Pharmaceuticals & Biotechnology United Kingdom
3 HSBC HLDGS 1.58% Banks United Kingdom
4 BP 1.40% Non-Renewable Energy United Kingdom
5 UNILEVER 1.37% Personal Care, Drug & Grocery Stores United Kingdom
6 RIO TINTO 1.34% Industrial Metals & Mining United Kingdom
7 GLAXOSMITHKLINE 1.24% Pharmaceuticals & Biotechnology United Kingdom
8 ROYAL DUTCH SHELL 1.12% Non-Renewable Energy United Kingdom
9 BRITISH AMERICAN TOBACCO 1.09% Tobacco United Kingdom
10 RECKITT BENCKISER GROUP 1.05% Personal Care, Drug & Grocery Stores United Kingdom

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology 1.78% 1.83% - - - - - - 3.61%
Telecommunications 0.95% 0.57% - - - - - - 1.52%
Financials 8.56% 2.70% - 0.04% - - 1.08% - 12.38%
Real Estate 0.51% 0.27% - - - 0.83% - - 1.61%
Consumer Discretionary 5.83% 1.96% - - - - - - 7.79%
Consumer Staples 6.41% 1.47% - - - - - - 7.88%
Energy 3.10% 0.79% - - - - - - 3.89%
Utilities 1.83% 0.71% - - - - - - 2.54%
Health Care 5.58% 2.90% - - - - - - 8.48%
Industrials 7.42% 3.38% - - - - - - 10.81%
Basic Materials 3.54% 1.50% - - - - - - 5.05%
Cash and Equivalents - - - - - - - 2.12% 2.12%
Bonds - - - 0.02% - - - - 0.02%
Non-Classified 0.04% 0.27% - - - - 32.01% - 32.31%

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Identification Codes

Sedol Code 3168596
Mex Code PUGLE
Isin Code GB0031685968
Citi Code P273

Fund Charges

Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G PP Global Equity Fund - the underlying fund. Underlying Fund Objective: The fund provides an all-equity approach to investment, holding a 60% UK equity and 40% mix of overseas company shares. For the overseas shares the fund is actively managed against an internal composite benchmark asset allocation set by the M&G Treasury & Investment Office (T&IO). It is a “fund of funds” where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Performance Objective: To outperform the internal composite benchmark by 1.0% a year (before charges) on a rolling three year basis.
Benchmark Internal composite benchmark, asset allocation set by the M&G Prudential Treasury & Investment Office (T&IO), which includes the team formerly known as Prudential Portfolio Management Group
Sector ABI Global Equities

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

These risk ratings have been developed by Prudential to help provide an indication of a fund’s potential level of risk and reward based on the type of assets which may be held by the fund. Other companies may use different descriptions and as such these risk ratings should not be considered as generic across the fund management industry.

We regularly review our fund risk ratings, so they may change in the future. If, in our view, there is a material change in the fund's level of risk, for example due to a significant change to the assets held by the fund or in the way the fund is managed, we will provide information on the new risk rating. We recommend that you make sure you understand the risk rating of any fund before you invest.

You should also consider discussing your decision and the appropriateness of a fund's risk rating with an adviser.

  • Higher Risk
  • Medium to Higher Risk
  • Medium Risk
  • Lower to Medium Risk
  • Lower Risk
  • Minimal Risk

Medium to Higher Risk

These funds offer a diverse geographical spread of equity investment or have multi-asset strategies with a specialist focus (e.g. ethical). The equity funds within this category will have greater overseas exposure and underlying volatility than the "medium" sector.

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Important Information

This factsheet is intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.

This factsheet is intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Prudential is a trading name of Prudential Pensions Limited. Prudential Pensions Limited is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 992726. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.