Prudential Corporate Bond S3

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

Performance

Discrete performance - to last month end

30/09/12
to
30/09/13
30/09/13
to
30/09/14
30/09/14
to
30/09/15
30/09/15
to
30/09/16
30/09/16
to
30/09/17
Fund 2.2% 5.1% 2.3% 9.2% -0.1%
Sector 2.7% 5.2% 2.0% 9.5% -0.2%
Rank 104/153 97/157 88/164 105/172 94/181
Quartile 3 3 3 3 3

Annualised performance

Annualised
3 Years to
30/09/17
5 Years to
30/09/17
10 Years to
30/09/17
Fund 3.7% 3.7% 4.9%
Sector 3.7% 3.8% 4.3%
Rank 95/164 112/153 38/118
Quartile 3 3 2

Top 10 Holdings

Stock % Weight
Lloyds Bank PLC 5.125% 07/03/2025 1.60
AT&T Inc 4.875% 01/06/2044 1.20
Wells Fargo Bank NA 5.25% 01/08/2023 1.20
3¼% Treasury Gilt 2044 0.96
Imperial Brands Finance PLC 9% 17/02/2022 0.92
Bank of America Corp 2.3% 25/07/2025 0.89
Republic of Italy Government Internation 6% 04/08/2028 0.88
Heathrow Funding Ltd 6.75% 03/12/2026 0.84
European Investment Bank 5.5% 15/04/2025 0.83
Wells Fargo & Co 2% 28/07/2025 0.82
Total 10.15

Fund Aims

The investment strategy of the fund is to purchase units in the M&G Corporate Bond Fund. That fund aims to provide income and capital growth. At least 70% of the fund is invested in sterling-denominated corporate debt instruments. The fund’s exposure to corporate debt may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. Any currency exposures within the fund may be managed by currency hedges into sterling. The fund may also invest in collective investment schemes, other transferable securities and other debt instruments (including corporate debt and government and public securities denominated in any currency), cash, near cash, other money market securities, warrants and other derivative instruments.

Fund Manager

Richard Woolnough manager of the underlying fund for 13 years and 7 months

Photo of Richard Woolnough Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Corporate Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in economics.

Fund Overview

Bid (18/10/2017) 161.00
Offer (18/10/2017) 161.00
Fund size (31/08/2017) £11.75m
Underlying Fund size £3967.42m
Number of holdings 551
Launch date 01/07/2003

Fund Charges

Base Annual Management Charge (AMC) 1.35%
Additional Charges 0.02%
Total Charges 1.37%

Asset Allocation

pie chart
  UK Corporate Bonds 49.14%
  International Bonds 43.82%
  Cash and Equivalents 3.46%
  UK Gilts 2.80%
  Money Market 0.97%
  Other Assets -0.18%
Portfolio data accurate as at: 30/09/17

Important Information

Source of portfolio data: FundsLibrary. Source of performance data: Financial Express (FE). 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, or the Annual Management Charge for any available PruFund funds. The application of charges may impact the overall performance. Please also note that our charges 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 net income reinvested. The value of your investment can go down as well as up and you may not get back the amount you put in.

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 FundsLibrary, 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 Corporate Bonds 49.14%
  International Bonds 43.82%
  Cash and Equivalents 3.46%
  UK Gilts 2.80%
  Money Market 0.97%
  Other Assets -0.18%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Basic Materials 0.51% - - -
 
Basic Resources - 0.33% - -
 
Forestry & Paper - - 0.26% -
 
Paper - - - 0.26%
 
Industrial Metals & Mining - - 0.06% -
 
Iron & Steel - - - 0.05%
 
Nonferrous Metals - - - 0.01%
 
Chemicals - 0.19% - -
 
Chemicals - - 0.19% -
 
Commodity Chemicals - - - 0.17%
 
Specialty Chemicals - - - 0.01%
 
Consumer Goods 5.87% - - -
 
Personal & Household Goods - 2.57% - -
 
Tobacco - - 2.57% -
 
Tobacco - - - 2.57%
 
Food & Beverage - 2.38% - -
 
Beverages - - 1.72% -
 
Brewers - - - 1.30%
 
Soft Drinks - - - 0.32%
 
Distillers & Vintners - - - 0.11%
 
Food Producers - - 0.66% -
 
Food Products - - - 0.60%
 
Farming & Fishing - - - 0.06%
 
Automobiles & Parts - 0.92% - -
 
Automobiles & Parts - - 0.92% -
 
Automobiles - - - 0.72%
 
Auto Parts - - - 0.20%
 
Consumer Services 7.83% - - -
 
Travel & Leisure - 3.04% - -
 
Travel & Leisure - - 3.04% -
 
Airlines - - - 1.54%
 
Restaurants & Bars - - - 0.90%
 
Travel & Tourism - - - 0.39%
 
Hotels - - - 0.22%
 
Retail - 3.02% - -
 
General Retailers - - 1.74% -
 
Specialized Consumer Services - - - 0.63%
 
Apparel Retailers - - - 0.63%
 
Broadline Retailers - - - 0.48%
 
Food & Drug Retailers - - 1.28% -
 
Food Retailers & Wholesalers - - - 0.81%
 
Drug Retailers - - - 0.48%
 
Media - 1.77% - -
 
Media - - 1.77% -
 
Broadcasting & Entertainment - - - 1.56%
 
Publishing - - - 0.13%
 
Media Agencies - - - 0.08%
 
Financials 34.69% - - -
 
Banks - 18.20% - -
 
Banks - - 18.20% -
 
Banks - - - 18.20%
 
Insurance - 6.62% - -
 
Life Insurance - - 4.06% -
 
Life Insurance - - - 4.06%
 
Nonlife Insurance - - 2.56% -
 
Full Line Insurance - - - 1.76%
 
Reinsurance - - - 0.68%
 
Insurance Brokers - - - 0.11%
 
Real Estate - 6.02% - -
 
Real Estate Investment Trusts - - 3.86% -
 
Retail REITs - - - 1.91%
 
Industrial & Office REITs - - - 1.49%
 
Specialty REITs - - - 0.29%
 
Diversified REITs - - - 0.17%
 
Real Estate Investment & Services - - 2.16% -
 
Real Estate Services - - - 2.08%
 
Real Estate Holding & Development - - - 0.08%
 
Financial Services - 3.85% - -
 
Financial Services - - 3.68% -
 
Investment Services - - - 1.35%
 
Specialty Finance - - - 0.94%
 
Mortgage Finance - - - 0.70%
 
Consumer Finance - - - 0.38%
 
Asset Managers - - - 0.31%
 
Nonequity Investment Instruments - - 0.18% -
 
Nonequity Investment Instruments - - - 0.18%
 
Equity Investment Instruments - - 0.00% -
 
Equity Investment Instruments - - - 0.00%
 
Health Care 0.75% - - -
 
Health Care - 0.75% - -
 
Pharmaceuticals & Biotechnology - - 0.44% -
 
Biotechnology - - - 0.41%
 
Pharmaceuticals - - - 0.03%
 
Health Care Equipment & Services - - 0.32% -
 
Health Care Providers - - - 0.32%
 
Industrials 8.13% - - -
 
Industrial Goods & Services - 7.58% - -
 
Industrial Transportation - - 3.97% -
 
Transportation Services - - - 2.81%
 
Railroads - - - 1.08%
 
Marine Transportation - - - 0.08%
 
General Industrials - - 2.74% -
 
Diversified Industrials - - - 2.74%
 
Industrial Engineering - - 0.36% -
 
Industrial Machinery - - - 0.36%
 
Aerospace & Defence - - 0.28% -
 
Defence - - - 0.28%
 
Support Services - - 0.23% -
 
Business Support Services - - - 0.23%
 
Construction & Materials - 0.55% - -
 
Construction & Materials - - 0.55% -
 
Heavy Construction - - - 0.39%
 
Building Materials & Fixtures - - - 0.16%
 
Oil & Gas 0.87% - - -
 
Oil & Gas - 0.87% - -
 
Oil & Gas Producers - - 0.53% -
 
Integrated Oil & Gas - - - 0.53%
 
Oil Equipment, Services & Distribution - - 0.34% -
 
Pipelines - - - 0.34%
 
Technology 3.74% - - -
 
Technology - 3.74% - -
 
Software & Computer Services - - 2.83% -
 
Software - - - 2.83%
 
Technology Hardware & Equipment - - 0.92% -
 
Computer Hardware - - - 0.92%
 
Telecommunications 12.98% - - -
 
Telecommunications - 12.98% - -
 
Fixed Line Telecommunications - - 10.64% -
 
Fixed Line Telecommunications - - - 10.64%
 
Mobile Telecommunications - - 2.34% -
 
Mobile Telecommunications - - - 2.34%
 
Utilities 9.52% - - -
 
Utilities - 9.52% - -
 
Gas, Water & Multiutilities - - 5.38% -
 
Water - - - 3.37%
 
Multiutilities - - - 1.19%
 
Gas Distribution - - - 0.81%
 
Electricity - - 4.14% -
 
Conventional Electricity - - - 4.14%
 
Government 1.54% - - -
 
Government - 1.54% - -
 
Government - - 1.54% -
 
Government - - - 1.54%
 
Corporate Bonds 0.90% - - -
 
Corporate Bonds - 0.90% - -
 
Corporate Bonds - - 0.90% -
 
Corporate Bonds - - - 0.90%
 
Asset Backed securities 0.13% - - -
 
Asset backed securities - 0.13% - -
 
Asset backed securities - - 0.13% -
 
Asset backed securities - - - 0.13%
 
Mortgage Backed securities 3.40% - - -
 
Mortgage backed securities - 3.40% - -
 
Mortgage backed securities - - 3.40% -
 
Mortgage backed securities - - - 3.40%
 
Non-Classified 4.72% - - -
 
Cash and Equivalents 4.43% - - -

Regional Allocation

pie chart
  UK 51.96%
  North America 20.96%
  Developed Europe - Excl UK 20.36%
  Cash and Equivalents 4.43%
  Non-Classified 1.32%
  South & Central America 0.54%
  Other Regions 0.43%

Fixed Interest Currencies

pie chart
  Pound Sterling 83.60%
  US Dollar 13.98%
  Cash 3.46%
  Euro 1.33%
  Non-Fixed Interest Assets 0.79%
  Unrecognised -3.15%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 51.96% -
 
United Kingdom - 51.96%
 
North America 20.96% -
 
United States - 20.61%
 
Canada - 0.35%
 
Developed Europe - Excl UK 20.36% -
 
France - 7.18%
 
Netherlands - 3.84%
 
Luxembourg - 2.13%
 
Italy - 1.78%
 
Spain - 1.70%
 
Belgium - 1.58%
 
Germany - 1.35%
 
Ireland - 0.34%
 
Switzerland - 0.24%
 
Sweden - 0.16%
 
Denmark - 0.08%
 
Cash and Equivalents 4.43% -
 
Non-Classified 1.32% -
 
South & Central America 0.54% -
 
Mexico - 0.54%
 
Australia & New Zealand 0.23% -
 
Australia - 0.12%
 
New Zealand - 0.11%
 
Middle East & Africa 0.20% -
 
South Africa - 0.20%

Fixed Interest Maturity Profile

5Yr - 10Yr Maturity
 
 
32.62%
< 5Yr Maturity
 
 
23.36%
10Yr - 15Yr Maturity
 
 
20.56%
> 15Yr Maturity
 
 
19.21%
Cash And Equivalents
 
 
4.43%
Unknown Maturity
 
 
0.09%
Other Asset Types
 
-0.27%

Fixed Interest Quality Profile

BBB
 
 
44.29%
A
 
 
20.41%
AA
 
 
8.75%
AAA
 
 
7.83%
Sub-Investment Grade
 
 
4.13%
Unknown Quality
 
 
10.34%
Cash and Equivalents
 
 
4.43%
Other Asset Types
 
-0.18%

Top 10 Holdings

Stock % Weight Sector Country
1 Lloyds Bank PLC 5.125% 07/03/2025 1.60% Banks United Kingdom
2 AT&T Inc 4.875% 01/06/2044 1.20% Fixed Line Telecommunications United States
3 Wells Fargo Bank NA 5.25% 01/08/2023 1.20% Banks United States
4 3¼% Treasury Gilt 2044 0.96% Bonds United Kingdom
5 Imperial Brands Finance PLC 9% 17/02/2022 0.92% Tobacco United Kingdom
6 Bank of America Corp 2.3% 25/07/2025 0.89% Banks United States
7 Republic of Italy Government Internation 6% 04/08/2028 0.88% Bonds Italy
8 Heathrow Funding Ltd 6.75% 03/12/2026 0.84% Travel & Leisure United Kingdom
9 European Investment Bank 5.5% 15/04/2025 0.83% Banks Luxembourg
10 Wells Fargo & Co 2% 28/07/2025 0.82% Banks United States

Important Information

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.

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 FundsLibrary, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code 3317893
Mex Code PUCB3
Isin Code GB0033178939
Citi Code P359

Fund Charges

Base Annual Management Charge (AMC) 1.35%
Additional Charges 0.02%
Total Charges 1.37%

Aims and Benchmark

Aims The investment strategy of the fund is to purchase units in the M&G Corporate Bond Fund. That fund aims to provide income and capital growth. At least 70% of the fund is invested in sterling-denominated corporate debt instruments. The fund’s exposure to corporate debt may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. Any currency exposures within the fund may be managed by currency hedges into sterling. The fund may also invest in collective investment schemes, other transferable securities and other debt instruments (including corporate debt and government and public securities denominated in any currency), cash, near cash, other money market securities, warrants and other derivative instruments.
Benchmark IA Sterling Corporate Bond sector average
ABI Sector Sterling Corporate Bond

Ratings

Morningstar Analyst Rating™ Morningstar Analyst Rating of Silver
FE Crown Crown Rating of 4

Important Information

Our charges 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 FundsLibrary, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Source of performance data: Financial Express (FE). 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, or the Annual Management Charge for any available PruFund funds. The application of charges may impact the overall performance. Please also note that our charges 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 net income reinvested. The value of your investment can go down as well as up and you may not get back the amount you put in.

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 FundsLibrary, 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 The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group. Registered office at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.