Prudential International 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 29.7% 19.4% 8.7% 2.0% -3.1%
Benchmark 30.8% 17.3% 9.1% 6.0% 6.1%

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 1.7% 2.4% 10.7% 9.1%
Benchmark 3.6% 7.1% 13.5% 10.6%

Top 10 Holdings

Stock % Weight
PPL N AMER US EQTY Prvt 25.21
PPL N AMER CANADA EQTY Prvt 1.30
NESTLE SA 1.22
SAMSUNG ELECTRONICS CO 1.17
TAIWAN SEMICONDUCTOR MANUFACTURING 0.94
ROCHE HLDG AG 0.91
NOVARTIS AG 0.66
ASML HOLDING NV 0.56
SAP SE 0.46
LVMH MOET HENNESSY VUITTON SE 0.45
Total 32.88

Fund Aims

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

Underlying Fund Objective: The fund invests, via other M&G PP funds, in the shares of overseas companies. It 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 39 years and 8 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) 450.40
Fund size (30/09/2020) £99.79m
Underlying Fund size £105.00m
Number of holdings 868
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 06/04/2001

Asset Allocation

pie chart
  International Equities 38.90%
  Property 0.33%
  UK Equities 0.28%
  Cash and Equivalents 0.26%
  Money Market 0.13%
  International Bonds 0.10%
  Other Assets 59.99%

Performance comment

Performance as at Q2 2020 - The second quarter saw robust gains for international stockmarkets, which rebounded following the sharp declines of the previous quarter. Investors were enthusiastic about the huge amounts of central bank stimulus and government support in the face of the economic weakness caused by the pandemic and the ensuing population and business lockdowns.

April and May witnessed most notable stockmarket gains as many countries seemed to experience a peak of the virus, with declining numbers of cases leading to the gradual re-opening of economies. Later in the quarter, the pace of gains eased as investors digested news regarding the ongoing virus, especially renewed outbreaks in certain regions. Nevertheless, equity returns during the quarter were strong enough in some regional equity markets to bring the year-to-date returns into positive territory.

The fund gained strongly in the quarter, but performance was behind the benchmark and the comparator. All major geographic equity markets performed well, led by the US, followed by Pacific markets, Europe and emerging markets. The gains from Japan were more moderate, all in sterling terms. Stock selection held back returns in all regional markets.

The outlook regarding both the virus and the global economy is still uncertain. Across the world, virus flare-ups continue 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.

The indications are that the global economy will contract by an unprecedented amount compared with recent history, including the global financial crisis in 2008. More encouragingly, some forecasts are suggesting that the recovery may be swifter than 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.

The fund management team will watch carefully to see if virus infections continue to increase and, importantly, whether the authorities react this time around to a materially lesser degree should a second wave emerge. It is the reaction and subsequent lockdown that is key to the economic impact, notwithstanding the sad human cost of virus re-emergence. The fund management team will also carefully watch the news of potential vaccines, which could have a significant and positive effect.

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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
  International Equities 38.90%
  Property 0.33%
  UK Equities 0.28%
  Cash and Equivalents 0.26%
  Money Market 0.13%
  International Bonds 0.10%
  Other Assets 59.99%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Non-Classified 60.21% - - -
 
Non-Classified - 33.48% - -
 
Non-Classified - - 33.48% -
 
Non-Classified - - - 33.48%
 
Financials 7.44% - - -
 
Banks - 3.76% - -
 
Banks - - 3.76% -
 
Banks - - - 3.76%
 
Insurance - 2.24% - -
 
Non-life Insurance - - 1.37% -
 
Full Line Insurance - - - 0.74%
 
Property & Casualty Insurance - - - 0.36%
 
Reinsurance - - - 0.28%
 
Life Insurance - - 0.86% -
 
Life Insurance - - - 0.86%
 
Financial Services - 1.45% - -
 
Investment Banking & Brokerage Services - - 1.20% -
 
Diversified Financial Services - - - 0.59%
 
Asset Managers & Custodians - - - 0.33%
 
Investment Services - - - 0.28%
 
Finance & Credit Services - - 0.25% -
 
Mortgage Finance - - - 0.25%
 
Industrials 5.91% - - -
 
Industrial Goods & Services - 4.89% - -
 
Industrial Transportation - - 1.18% -
 
Transportation Services - - - 0.46%
 
Delivery Services - - - 0.16%
 
Commercial Vehicles & Parts - - - 0.15%
 
Marine Transportation - - - 0.13%
 
Trucking - - - 0.12%
 
Railroad Equipment - - - 0.11%
 
Railroads - - - 0.05%
 
General Industrials - - 1.16% -
 
Diversified Industrials - - - 0.66%
 
Containers & Packaging - - - 0.31%
 
Plastics - - - 0.18%
 
Glass - - - 0.01%
 
Paints & Coatings - - - 0.00%
 
Electronic & Electrical Equipment - - 0.82% -
 
Electrical Components - - - 0.59%
 
Electronic Equipment: Control & Filter - - - 0.22%
 
Electronic Equipment: Other - - - 0.01%
 
Electronic Equipment: Gauges & Meters - - - 0.00%
 
Industrial Support Services - - 0.67% -
 
Transaction Processing Services - - - 0.33%
 
Business Training & Employment Agencies - - - 0.15%
 
Security Services - - - 0.10%
 
Professional Business Support Services - - - 0.09%
 
Industrial Suppliers - - - 0.00%
 
Industrial Engineering - - 0.66% -
 
Machinery: Construction & Handling - - - 0.31%
 
Machinery: Industrial - - - 0.26%
 
Machinery: Tools - - - 0.08%
 
Machinery: Engines - - - 0.02%
 
Aerospace & Defence - - 0.40% -
 
Aerospace - - - 0.34%
 
Defense - - - 0.06%
 
Construction & Materials - 1.02% - -
 
Construction & Materials - - 1.02% -
 
Building Materials: Other - - - 0.38%
 
Construction - - - 0.35%
 
Cement - - - 0.15%
 
Building, Roofing/Wallboard & Plumbing - - - 0.08%
 
Engineering & Contracting Services - - - 0.05%
 
Building: Climate Control - - - 0.02%
 
Technology 5.49% - - -
 
Technology - 5.49% - -
 
Technology Hardware & Equipment - - 3.97% -
 
Semiconductors - - - 1.51%
 
Computer Hardware - - - 1.39%
 
Production Technology Equipment - - - 0.58%
 
Electronic Components - - - 0.48%
 
Software & Computer Services - - 1.52% -
 
Software - - - 0.71%
 
Consumer Digital Services - - - 0.60%
 
Computer Services - - - 0.22%
 
Health Care 4.65% - - -
 
Health Care - 4.65% - -
 
Pharmaceuticals & Biotechnology - - 3.48% -
 
Pharmaceuticals - - - 2.91%
 
Biotechnology - - - 0.57%
 
Medical Equipment & Services - - 0.96% -
 
Medical Supplies - - - 0.49%
 
Medical Equipment - - - 0.47%
 
Health Care Providers - - 0.21% -
 
Health Care Services - - - 0.15%
 
Health Care Facilities - - - 0.06%
 
Consumer Discretionary 4.09% - - -
 
Consumer Products & Services - 1.86% - -
 
Personal Goods - - 1.37% -
 
Clothing & Accessories - - - 0.61%
 
Cosmetics - - - 0.32%
 
Footwear - - - 0.26%
 
Luxury Items - - - 0.18%
 
Household Goods & Home Construction - - 0.22% -
 
Household Equipment & Products - - - 0.15%
 
Household Appliance - - - 0.06%
 
Household Furnishings - - - 0.01%
 
Consumer Services - - 0.13% -
 
Consumer Services: Misc. - - - 0.10%
 
Education Services - - - 0.04%
 
Leisure Goods - - 0.13% -
 
Electronic Entertainment - - - 0.07%
 
Consumer Electronics - - - 0.02%
 
Photography - - - 0.02%
 
Toys - - - 0.02%
 
Automobiles & Parts - 1.03% - -
 
Automobiles & Parts - - 1.03% -
 
Automobiles - - - 0.78%
 
Tires - - - 0.18%
 
Auto Parts - - - 0.07%
 
Retail - 0.56% - -
 
Retailers - - 0.56% -
 
Apparel Retailers - - - 0.38%
 
Diversified Retailers - - - 0.10%
 
Specialty Retailers - - - 0.08%
 
Home Improvement Retailers - - - 0.01%
 
Travel & Leisure - 0.37% - -
 
Travel & Leisure - - 0.37% -
 
Casinos & Gambling - - - 0.17%
 
Travel & Tourism - - - 0.12%
 
Restaurants & Bars - - - 0.04%
 
Airlines - - - 0.03%
 
Hotels & Motels - - - 0.02%
 
Media - 0.27% - -
 
Media - - 0.27% -
 
Radio & TV Broadcasters - - - 0.11%
 
Publishing - - - 0.11%
 
Media Agencies - - - 0.04%
 
Consumer Staples 3.44% - - -
 
Food, Beverage & Tobacco - 2.50% - -
 
Food Producers - - 1.83% -
 
Food Products - - - 1.76%
 
Farming, Fishing, Ranching & Plantations - - - 0.06%
 
Fruit & Grain Processing - - - 0.01%
 
Beverages - - 0.60% -
 
Brewers - - - 0.40%
 
Distillers & Vintners - - - 0.17%
 
Soft Drinks - - - 0.04%
 
Tobacco - - 0.06% -
 
Tobacco - - - 0.06%
 
Personal Care, Drug & Grocery Stores - 0.94% - -
 
Personal Care, Drug & Grocery Stores - - 0.94% -
 
Food Retailers & Wholesalers - - - 0.49%
 
Personal Products - - - 0.44%
 
Basic Materials 2.37% - - -
 
Chemicals - 1.24% - -
 
Chemicals - - 1.24% -
 
Specialty Chemicals - - - 0.64%
 
Chemicals: Diversified - - - 0.57%
 
Fertilizers - - - 0.04%
 
Basic Resources - 1.13% - -
 
Industrial Metals & Mining - - 0.71% -
 
General Mining - - - 0.32%
 
Iron & Steel - - - 0.15%
 
Copper - - - 0.13%
 
Metal Fabricating - - - 0.09%
 
Aluminum - - - 0.02%
 
Industrial Materials - - 0.30% -
 
Paper - - - 0.24%
 
Forestry - - - 0.05%
 
Textile Products - - - 0.01%
 
Precious Metals & Mining - - 0.12% -
 
Platinum & Precious Metals - - - 0.06%
 
Gold Mining - - - 0.06%
 
Utilities 1.75% - - -
 
Utilities - 1.75% - -
 
Electricity - - 1.12% -
 
Conventional Electricity - - - 0.94%
 
Alternative Electricity - - - 0.18%
 
Gas, Water & Multi-utilities - - 0.63% -
 
Multi-Utilities - - - 0.38%
 
Water - - - 0.17%
 
Gas Distribution - - - 0.08%
 
Waste & Disposal Services - - 0.01% -
 
Waste & Disposal Services - - - 0.01%
 
Energy 1.73% - - -
 
Energy - 1.73% - -
 
Non-Renewable Energy - - 1.55% -
 
Integrated Oil & Gas - - - 0.90%
 
Oil: Crude Producers - - - 0.34%
 
Oil Refining and Marketing - - - 0.14%
 
Pipelines - - - 0.08%
 
Oil Equipment & Services - - - 0.07%
 
Offshore Drilling & Other Services - - - 0.02%
 
Coal - - - 0.00%
 
Renewable Energy - - 0.18% -
 
Renewable Energy Equipment - - - 0.18%
 
Telecommunications 1.43% - - -
 
Telecommunications - 1.43% - -
 
Telecommunications Service Providers - - 1.03% -
 
Telecommunications Services - - - 1.03%
 
Telecommunications Equipment - - 0.39% -
 
Telecommunications Equipment - - - 0.39%
 
Real Estate 1.13% - - -
 
Real Estate - 1.13% - -
 
Real Estate Investment & Services - - 0.71% -
 
Real Estate Holding and Development - - - 0.71%
 
Real Estate Services - - - 0.00%
 
Real Estate Investment Trusts - - 0.42% -
 
Diversified REITs - - - 0.18%
 
Retail REITs - - - 0.13%
 
Office REITs - - - 0.08%
 
Residential REITs - - - 0.02%
 
Industrial REITs - - - 0.01%
 
Cash and Equivalents 0.26% - - -
 
Bonds 0.10% - - -
 
Alternative Trading Strategies 0.00% - - -
 
Alternative Trading Strategies - 0.00% - -
 
Alternative Trading Strategies - - 0.00% -
 
Alternative Trading Strategies - - - 0.00%

Regional Allocation

pie chart
  Non-Classified 59.99%
  Developed Europe - Excl UK 24.73%
  Emerging Asia 6.76%
  Developed Asia 2.17%
  Australia & New Zealand 1.74%
  North America 1.14%
  Other Regions 3.46%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.64%
  Cash 0.26%
  Swedish Krona 0.06%
  Swiss Franc 0.04%

Regional Breakdown

Expand allCollapse all
Region Country
 
Non-Classified 59.99% -
 
Developed Europe - Excl UK 24.73% -
 
Switzerland - 5.15%
 
France - 4.94%
 
Germany - 4.65%
 
Netherlands - 2.78%
 
Sweden - 1.79%
 
Denmark - 1.28%
 
Spain - 1.17%
 
Italy - 0.97%
 
Finland - 0.73%
 
Belgium - 0.56%
 
Norway - 0.30%
 
Ireland - 0.14%
 
Luxembourg - 0.10%
 
Portugal - 0.09%
 
Austria - 0.09%
 
Emerging Asia 6.76% -
 
South Korea - 2.82%
 
Taiwan - 2.06%
 
China - 0.70%
 
India - 0.24%
 
Indonesia - 0.22%
 
Thailand - 0.22%
 
Malaysia - 0.21%
 
Philippines - 0.19%
 
Pakistan - 0.10%
 
Papua New Guinea - 0.01%
 
Developed Asia 2.17% -
 
Hong Kong - 1.91%
 
Singapore - 0.26%
 
Australia & New Zealand 1.74% -
 
Australia - 1.64%
 
New Zealand - 0.10%
 
North America 1.14% -
 
United States - 1.03%
 
Canada - 0.11%
 
South & Central America 1.04% -
 
Mexico - 0.59%
 
Brazil - 0.44%
 
Emerging Europe 1.00% -
 
Russian Federation - 0.53%
 
Turkey - 0.22%
 
Poland - 0.12%
 
Hungary - 0.06%
 
Greece - 0.04%
 
Czech Republic - 0.03%
 
Middle East & Africa 0.42% -
 
South Africa - 0.42%
 
Cash and Equivalents 0.39% -
 
Property 0.33% -
 
UK 0.28% -
 
United Kingdom - 0.28%

Breakdown By Market Cap (%)

Mega
 
 
20.87%
Large
 
 
10.99%
Medium
 
 
4.47%
Small
 
 
1.11%
Non-Classified
 
 
62.20%
Bonds
 
 
0.10%
Cash
 
 
0.26%

Top 10 Holdings

Stock % Weight Sector Country
1 PPL N AMER US EQTY Prvt 25.21% Non-Classified Non-Classified
2 PPL N AMER CANADA EQTY Prvt 1.30% Non-Classified Non-Classified
3 NESTLE SA 1.22% Food Producers Switzerland
4 SAMSUNG ELECTRONICS CO 1.17% Technology Hardware & Equipment South Korea
5 TAIWAN SEMICONDUCTOR MANUFACTURING 0.94% Technology Hardware & Equipment Taiwan
6 ROCHE HLDG AG 0.91% Pharmaceuticals & Biotechnology Switzerland
7 NOVARTIS AG 0.66% Pharmaceuticals & Biotechnology Switzerland
8 ASML HOLDING NV 0.56% Technology Hardware & Equipment Netherlands
9 SAP SE 0.46% Software & Computer Services Germany
10 LVMH MOET HENNESSY VUITTON SE 0.45% Personal Goods France

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 5.49% - - - - - - 5.49%
Telecommunications - 1.43% - - - - - - 1.43%
Financials 0.12% 7.32% - 0.10% - - - - 7.54%
Real Estate - 0.80% - - - 0.33% - - 1.13%
Consumer Discretionary - 4.09% - - - - - - 4.09%
Consumer Staples - 3.44% - - - - - - 3.44%
Energy 0.06% 1.67% - - - - - - 1.73%
Utilities - 1.75% - - - - - - 1.75%
Health Care - 4.65% - - - - - - 4.65%
Industrials - 5.91% - - - - - - 5.91%
Basic Materials 0.10% 2.27% - - - - - - 2.37%
Cash and Equivalents - - - - - - - 0.26% 0.26%
Non-Classified - 0.09% - - - - 60.13% - 60.21%

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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 3168626
Mex Code PUINE
Isin Code GB0031686263
Citi Code P279

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 International Equity Fund- the underlying fund. Underlying Fund Objective: The fund invests, via other M&G PP funds, in the shares of overseas companies. It 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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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.