Prudential All Stocks Corporate Bond 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 16.0% 1.6% 0.5% 11.0% 7.0%
Benchmark 14.0% -0.2% 0.2% 10.2% 3.8%

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 1.1% 6.1% 7.1% 6.8%
Benchmark 1.2% 4.6% 5.4% 5.7%

Top 10 Holdings

Stock % Weight
1½% Treasury Gilt 2026 5.44
5% Treasury Stock 2025 2.89
4 1/2 Treasury 2034 1.90
1¼% Treasury Gilt 2027 1.73
EUROPEAN INVESTMENT BANK 1.70
KFW BANKENGRUPPE MTN 1.20
LLOYDS TSB BANK PLC RegS 1.06
ELECTRICITE DE FRANCE SA MTN RegS 1.06
MEXICO (UNITED MEXICAN STATES) (GO MTN 0.84
TRANSPORT FOR LONDON MTN RegS 0.81
Total 18.64

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP All Stocks Corporate Bond Fund - the underlying fund.

Underlying Fund Objective: The fund invests mainly in high quality sterling corporate bonds across the range of maturities. The fund is actively managed against its benchmark, the iBoxx sterling Non-Gilts Index. The fund may also hold UK government gilts and limited amounts of high yield and hedged non-sterling corporate bonds. Derivative instruments may be used for efficient portfolio fund management.

Performance Objective: To outperform the benchmark by 0.80% a year (before charges) on a rolling three year basis.

Fund Manager

Jamie Hamilton manager of the underlying fund for 19 years and 10 months

Photo of Jamie Hamilton Jamie Hamilton joined Prudential Group in 2001 as a fund manager in the fixed income team managing a range of institutional corporate bond funds. Prior to joining M&G, Jamie worked for Dresdner RCM Global Investors as a fixed income fund manager, managing corporate bond funds. Jamie graduated from Newcastle University with a degree in economics and is a chartered financial analyst (CFA) charterholder.

Fund Overview

Daily price (30/11/2020) 357.80
Fund size (30/09/2020) £41.36m
Underlying Fund size £3001.87m
Number of holdings 513
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 Bonds 42.40%
  UK Corporate Bonds 40.65%
  UK Gilts 14.38%
  Cash and Equivalents 2.57%

Performance comment

Performance as at Q2 2020 - The Covid-19 pandemic and its economic consequences remained the driving force for markets in the second quarter. Following the steep declines in credit and equity markets in February and March, risk assets recovered strongly during the second quarter, though remained volatile. Governments and central banks took action on unprecedented scales to support their economies, people and businesses. In April the US Federal Reserve (Fed) announced a $2.3 trillion stimulus package in which it will expand its balance sheet by buying corporate bonds, including those issued by former investment grade credits that have recently become high yield, so called ‘fallen angels’. European Union finance ministers also agreed to a €500 billion package intended to support those countries worst affected by Covid-19. Investors have recognised the positive aspects of that support and increased their risk appetites, driving strong positive performance in credit markets during the quarter.

Overall, having an overweight position in credit risk relative to the benchmark contributed positively to performance as spreads tightened during the quarter. Regarding sector selection, an overweight position relative to the benchmark in the Industrial and Financial sectors contributed positively to performance. The underweight position relative to the benchmark in the Quasi and Foreign Governments and Utility sectors were negative contributors to performance.

From a stock selection perspective, overweight positions relative to the benchmark in Aviva and Barclays were positive selections. The detractors to performance included an underweight position relative to the benchmark in Northumbrian Water and National Grid.

Source: M&G

Important Information

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 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 Bonds 42.40%
  UK Corporate Bonds 40.65%
  UK Gilts 14.38%
  Cash and Equivalents 2.57%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 97.43% - - -
 
Cash and Equivalents 2.57% - - -
 
Non-Classified 0.00% - - -

Regional Allocation

pie chart
  UK 55.03%
  Developed Europe - Excl UK 23.92%
  North America 13.76%
  Cash and Equivalents 2.57%
  Non-Classified 2.21%
  Australia & New Zealand 1.17%
  Other Regions 1.35%

Fixed Interest Currencies

pie chart
  Pound Sterling 90.68%
  US Dollar 3.49%
  Euro 3.26%
  Cash 2.57%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 55.03% -
 
United Kingdom - 55.03%
 
Developed Europe - Excl UK 23.92% -
 
Netherlands - 6.45%
 
France - 6.11%
 
Luxembourg - 3.61%
 
Germany - 2.70%
 
Ireland - 1.70%
 
Italy - 1.23%
 
Sweden - 0.66%
 
Switzerland - 0.62%
 
Belgium - 0.33%
 
Norway - 0.26%
 
Spain - 0.17%
 
Austria - 0.08%
 
North America 13.76% -
 
United States - 13.13%
 
Canada - 0.62%
 
Cash and Equivalents 2.57% -
 
Non-Classified 2.21% -
 
Australia & New Zealand 1.17% -
 
Australia - 1.17%
 
South & Central America 0.84% -
 
Mexico - 0.84%
 
Developed Asia 0.33% -
 
Hong Kong - 0.20%
 
Singapore - 0.13%
 
Japan 0.10% -
 
Japan - 0.10%
 
Emerging Europe 0.08% -
 
Czech Republic - 0.08%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
22.19%
5Yr - 10Yr Maturity
 
 
29.51%
10Yr - 15Yr Maturity
 
 
14.11%
> 15Yr Maturity
 
 
31.61%
Cash And Equivalents
 
 
2.57%

Fixed Interest Quality Profile

AAA
 
 
9.88%
AA
 
 
23.24%
A
 
 
20.64%
BBB
 
 
31.50%
Sub-Investment Grade
 
 
2.28%
Unknown Quality
 
 
9.91%
Cash and Equivalents
 
 
2.57%

Top 10 Holdings

Stock % Weight Sector Country
1 1½% Treasury Gilt 2026 5.44% Bonds United Kingdom
2 5% Treasury Stock 2025 2.89% Bonds United Kingdom
3 4 1/2 Treasury 2034 1.90% Bonds United Kingdom
4 1¼% Treasury Gilt 2027 1.73% Bonds United Kingdom
5 EUROPEAN INVESTMENT BANK 1.70% Bonds Luxembourg
6 KFW BANKENGRUPPE MTN 1.20% Bonds Germany
7 LLOYDS TSB BANK PLC RegS 1.06% Bonds United Kingdom
8 ELECTRICITE DE FRANCE SA MTN RegS 1.06% Bonds France
9 MEXICO (UNITED MEXICAN STATES) (GO MTN 0.84% Bonds Mexico
10 TRANSPORT FOR LONDON MTN RegS 0.81% Bonds United Kingdom

Important Information

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).

Identification Codes

Sedol Code 3168563
Mex Code PUCB
Isin Code GB0031685638
Citi Code P270

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 All Stocks Corporate Bond Fund - the underlying fund. Underlying Fund Objective: The fund invests mainly in high quality sterling corporate bonds across the range of maturities. The fund is actively managed against its benchmark, the iBoxx sterling Non-Gilts Index. The fund may also hold UK government gilts and limited amounts of high yield and hedged non-sterling corporate bonds. Derivative instruments may be used for efficient portfolio fund management. Performance Objective: To outperform the benchmark by 0.80% a year (before charges) on a rolling three year basis.
Benchmark iBoxx Sterling Non-Gilts Index
ABI Sector Sterling Fixed Interest

Important Information

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).

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

Lower to Medium Risk

These funds may invest in corporate bonds or multi-asset strategies with a higher weighting in corporate bonds (and other comparable strategies).

Help

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

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 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.