Prudential Threadneedle Property 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 -2.2% 17.7% 9.6% 2.9% -8.4%
Benchmark 3.4% 9.3% 8.8% 2.2% -2.8%

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 0.5% 1.1% 3.5% 6.7%
Benchmark 0.2% 2.6% 4.1% 6.4%

Holdings

Stock % Weight
PROPERTY HOLDINGS 92.56
EPFUKC TPEN UK CASH FUND 2.10
Total 94.66

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Threadneedle Pensions Property Fund - the underlying fund.

Underlying Fund Objective: The fund aims to invest primarily in direct UK commercial property. It aims to generate total returns (from income and capital appreciation) that are above its benchmark, over rolling 3 year periods.

Fund Manager

James Rigg manager of the underlying fund for 13 years and 1 months

Photo of James Rigg James Rigg joined Threadneedle in January 1995 as a director where he manages the Zurich Assurance Ltd AL Property Fund. He started his career in 1990 working for Jones Lang Wootton as a Chartered Surveyor and then moved to Nikko Securities in 1994 as a Stockbroker. James graduated from Exeter University with a BA (Hons) in Philosophy and also received a postgraduate diploma in Estate Management from Southbank University. James is also an associate member of the Royal Institution of Chartered Surveyors

Nathan Hargreaves manager of the underlying fund for 13 years and 1 months

Photo of Nathan Hargreaves Nathan Hargreaves joined Threadneedle in 2005 and is manager of the Threadneedle Pensions Property Fund, focusing on fund strategy and the sale and acquisition of property investment stock. Nathan has gained a broad range of property experience, starting off as a Building Surveyor, moving into the occupational agency, before specialising in commercial property investment. Nathan holds a degree in Building Surveying and a Diploma in Surveying from Reading University and is also a Member of the Royal Institution of Chartered Surveyors.

Fund Overview

Daily price (24/11/2020) 177.80
Fund size (30/09/2020) £0.15m
Underlying Fund size £1953.02m
Number of holdings 2
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 20/02/2008

Asset Allocation

pie chart
  Property 92.56%
  Cash and Equivalents 5.34%
  Other Assets 2.10%

Performance comment

Performance as at Q2 2020 - UK investment activity fell to record lows during the quarter. However, there were signs of capital tentatively re-engaging in both the industrial/distribution and central London markets, with activity more prevalent for liquid lot sizes. The fund generated a negative return during the quarter, fractionally underperforming the MSCI/AREF UK ‘All Balanced’ Property Fund index weighted-average total return. The fund continues to be well positioned against the uncertain economic backdrop, as evidenced by the following factors: Significant income yield advantage versus the MSCI UK Monthly Property index, maximum diversification at both portfolio (273 properties, 1,344 tenancies) and at client levels (65 pension fund clients).

Highly liquid average lot size of c. £6.4m, strategic portfolio positioning, with a focus on the strongest underlying sub-sectors (c. 42%* of direct property exposure is to the buoyant industrial market, with a ‘last mile’ focus).

Significant unrealised potential to add value through proactive asset management across the portfolio, defensive positioning with no property-level debt, no exposure to property company shares and no speculative property development.

Proven, long-term record of delivering relative outperformance in uncertain economic climates.*Source: CBRE Independent Valuation as at 30 June 2020. Weighted-average return statistics are measured at fund level (NAV to NAV, net of fees) and take into account cash holdings.

Source: Columbia Threadneedle Investments

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).

This portfolio has not been independently validated by IPD

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
  Property 92.56%
  Cash and Equivalents 5.34%
  Other Assets 2.10%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Property 92.56% - - -
 
Property - 92.56% - -
 
Property - - 92.56% -
 
Property - - - 92.56%
 
Cash and Equivalents 5.34% - - -
 
Non-Classified 2.10% - - -

Regional Allocation

pie chart
  Property 92.56%
  Cash and Equivalents 5.34%
  Non-Classified 2.10%

Regional Breakdown

Expand allCollapse all
Region Country
 
Property 92.56% -
 
Cash and Equivalents 5.34% -
 
Non-Classified 2.10% -

Property Regions

pie chart
  South East 25.22%
  London - Inner 16.71%
  London – Outer 10.81%
  North West 10.66%
  Yorkshire/Humberside 10.64%

Asset Allocation

pie chart
  Industrial/Warehouse 35.00%
  Town centre offices 18.20%
  Unit Shops 12.60%
  Retail Warehouse 12.30%
  Out of town offices 10.50%
  Miscellaneous 6.50%
  Other Assets 5.00%

Holdings

Stock % Weight Sector Country
1 PROPERTY HOLDINGS 92.56% Property Direct Property and REITs
2 EPFUKC TPEN UK CASH FUND 2.10% Non-Classified Non-Classified

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Property - - - - - 92.56% - - 92.56%
Cash and Equivalents - - - - - - - 5.34% 5.34%
Non-Classified - - - - - - 2.10% - 2.10%

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).

This portfolio has not been independently validated by IPD

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.

Identification Codes

Sedol Code B2PKMD5
Mex Code PUS3TP
Isin Code GB00B2PKMD53
Citi Code B8N5

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 Threadneedle Pensions Property Fund - the underlying fund. Underlying Fund Objective: The fund aims to invest primarily in direct UK commercial property. It aims to generate total returns (from income and capital appreciation) that are above its benchmark, over rolling 3 year periods.
Benchmark AREF / IPD UK Quarterly Property Fund Index weighted average
Sector ABI UK Direct Property

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).

This portfolio has not been independently validated by IPD

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 Risk

These funds may invest in multi-asset strategies with a higher weighting in equities (or with significant derivative use), while funds investing mainly in property, high yield or government bonds (such as UK Gilts) are also in this category.

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).

This portfolio has not been independently validated by IPD

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.