Prudential BlackRock Aquila Emerging Markets 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 39.7% 16.8% 3.0% 3.8% 4.3%
Benchmark 36.2% 18.6% 2.0% 3.7% 5.4%

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 3.5% 3.7% 12.7% n/a
Benchmark 4.7% 3.7% 12.5% 4.6%

Top 10 Holdings

Stock % Weight
ALIBABA GROUP HLDG LTD 8.66
TENCENT HLDGS LTD 5.93
TAIWAN SEMICONDUCTOR MANUFACTURING 5.78
SAMSUNG ELECTRONICS CO 3.74
MEITUAN DIANPING 1.74
NASPERS 1.22
JD.COM INC 1.03
CHINA CONSTRUCTION BANK 0.98
PING AN INSURANCE(GR)CO OF CHINA 0.96
RELIANCE INDUSTRIES 0.91
Total 30.96

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the BlackRock Aquila Connect Emerging Markets Equity Fund - the underlying fund.

Underlying Fund Objective: The fund aims to achieve a return that is consistent with the return of the MSCI Emerging Markets Index.

Fund Manager

Team Managed manager of the underlying fund for 10 years and 6 months

Photo of Team Managed Team Managed

Fund Overview

Daily price (27/11/2020) 170.00
Fund size (30/09/2020) £8.91m
Underlying Fund size £1304.41m
Number of holdings 1829
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 01/02/2011

Asset Allocation

pie chart
  International Equities 99.83%
  Property 0.07%
  Alternative Trading Strategies 0.03%
  UK Equities 0.03%
  Cash and Equivalents 0.01%
  International Bonds 0.01%
  Other Assets 0.03%

Performance comment

Performance as at Q2 2020 - In developed markets, the US economy unexpectedly added 2.5 million jobs in May, beating expectations of an 8 million cut, and after declining by a record high of 20.7 million in April. In Europe, the overall euro area composite PMI of both manufacturing and services jumped to 47.5 compared with consensus expectations of 42.4. There has been similarly optimistic data in those EM countries where the health crisis is starting to stabilise. This is particularly the case for Asia, where the aggregate Emerging Asia PMI improved sharply to a three-month high of 48.5 in June. Two countries, China and Malaysia, reported expansionary PMIs, while India and the Philippines led the improvements, albeit from extremely depressed levels.

During their June meetings, the ECB and Fed strongly signalled that their accommodative policies will not be reversed anytime soon. Similarly, many EM central banks continued to cut rates in June, in-line with consensus, causing the GBI-EM GD index YTM to touch its lowest historical yield ever. Emerging markets continue to dominate incremental COVID-19 cases, particularly in the Latin America region. President Bolsonaro's decision to oppose lockdowns and focus on the economy has led to Brazil becoming the epicentre of the virus outbreak in LatAm. Mexico, Peru and Chile have also been particularly badly hit.

Citing idiosyncratic developments, Argentina published another "indicative proposal", worth 50-56 US cents on the dollar (at a 10% exit yield for reference). Such a proposal was largely priced in, but the deadline for restructuring talks has been extended into July.

Source: BlackRock

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: 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 99.83%
  Property 0.07%
  Alternative Trading Strategies 0.03%
  UK Equities 0.03%
  Cash and Equivalents 0.01%
  International Bonds 0.01%
  Other Assets 0.03%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Technology 27.92% - - -
 
Technology - 27.92% - -
 
Technology Hardware & Equipment - - 15.06% -
 
Semiconductors - - - 7.99%
 
Computer Hardware - - - 5.06%
 
Electronic Components - - - 1.95%
 
Production Technology Equipment - - - 0.06%
 
Software & Computer Services - - 12.86% -
 
Consumer Digital Services - - - 10.66%
 
Computer Services - - - 2.02%
 
Software - - - 0.19%
 
Consumer Discretionary 19.64% - - -
 
Retail - 11.29% - -
 
Retailers - - 11.29% -
 
Diversified Retailers - - - 10.55%
 
Specialty Retailers - - - 0.50%
 
Apparel Retailers - - - 0.18%
 
Home Improvement Retailers - - - 0.05%
 
Consumer Products & Services - 4.37% - -
 
Leisure Goods - - 1.67% -
 
Electronic Entertainment - - - 1.20%
 
Photography - - - 0.18%
 
Consumer Electronics - - - 0.15%
 
Recreational Vehicles & Boats - - - 0.06%
 
Toys - - - 0.04%
 
Recreational Products - - - 0.04%
 
Consumer Services - - 1.46% -
 
Education Services - - - 0.96%
 
Consumer Services: Misc. - - - 0.41%
 
Rental & Leasing Services: Consumer - - - 0.10%
 
Personal Goods - - 1.03% -
 
Clothing & Accessories - - - 0.48%
 
Footwear - - - 0.25%
 
Cosmetics - - - 0.21%
 
Luxury Items - - - 0.08%
 
Household Goods & Home Construction - - 0.21% -
 
Household Appliance - - - 0.09%
 
Household Equipment & Products - - - 0.08%
 
Household Furnishings - - - 0.04%
 
Automobiles & Parts - 2.57% - -
 
Automobiles & Parts - - 2.57% -
 
Automobiles - - - 2.03%
 
Auto Parts - - - 0.48%
 
Tires - - - 0.07%
 
Travel & Leisure - 1.25% - -
 
Travel & Leisure - - 1.25% -
 
Restaurants & Bars - - - 0.48%
 
Travel & Tourism - - - 0.37%
 
Airlines - - - 0.14%
 
Hotels & Motels - - - 0.14%
 
Casinos & Gambling - - - 0.11%
 
Recreational Services - - - 0.01%
 
Media - 0.16% - -
 
Media - - 0.16% -
 
Radio & TV Broadcasters - - - 0.10%
 
Entertainment - - - 0.04%
 
Media Agencies - - - 0.03%
 
Financials 17.15% - - -
 
Banks - 11.47% - -
 
Banks - - 11.47% -
 
Banks - - - 11.47%
 
Insurance - 3.01% - -
 
Life Insurance - - 2.47% -
 
Life Insurance - - - 2.47%
 
Non-life Insurance - - 0.55% -
 
Property & Casualty Insurance - - - 0.36%
 
Full Line Insurance - - - 0.17%
 
Reinsurance - - - 0.01%
 
Financial Services - 2.66% - -
 
Investment Banking & Brokerage Services - - 1.84% -
 
Investment Services - - - 1.12%
 
Diversified Financial Services - - - 0.63%
 
Asset Managers & Custodians - - - 0.10%
 
Finance & Credit Services - - 0.82% -
 
Mortgage Finance - - - 0.73%
 
Consumer Lending - - - 0.05%
 
Financial Data & Systems - - - 0.04%
 
Basic Materials 5.80% - - -
 
Basic Resources - 3.75% - -
 
Industrial Metals & Mining - - 2.23% -
 
Iron & Steel - - - 1.40%
 
Nonferrous Metals - - - 0.42%
 
General Mining - - - 0.17%
 
Copper - - - 0.16%
 
Aluminum - - - 0.07%
 
Metal Fabricating - - - 0.01%
 
Precious Metals & Mining - - 1.10% -
 
Gold Mining - - - 0.71%
 
Platinum & Precious Metals - - - 0.36%
 
Diamonds & Gemstones - - - 0.03%
 
Industrial Materials - - 0.41% -
 
Paper - - - 0.23%
 
Textile Products - - - 0.09%
 
Diversified Materials - - - 0.09%
 
Chemicals - 2.05% - -
 
Chemicals - - 2.05% -
 
Chemicals: Diversified - - - 1.18%
 
Specialty Chemicals - - - 0.68%
 
Fertilizers - - - 0.15%
 
Chemicals & Synthetic Fibers - - - 0.05%
 
Energy 5.76% - - -
 
Energy - 5.76% - -
 
Non-Renewable Energy - - 5.48% -
 
Integrated Oil & Gas - - - 2.77%
 
Oil Refining and Marketing - - - 2.06%
 
Oil: Crude Producers - - - 0.33%
 
Coal - - - 0.23%
 
Oil Equipment & Services - - - 0.09%
 
Renewable Energy - - 0.28% -
 
Renewable Energy Equipment - - - 0.28%
 
Consumer Staples 5.45% - - -
 
Food, Beverage & Tobacco - 3.52% - -
 
Food Producers - - 1.93% -
 
Food Products - - - 1.57%
 
Farming, Fishing, Ranching & Plantations - - - 0.31%
 
Fruit & Grain Processing - - - 0.04%
 
Beverages - - 1.32% -
 
Distillers & Vintners - - - 0.57%
 
Brewers - - - 0.42%
 
Soft Drinks - - - 0.34%
 
Tobacco - - 0.27% -
 
Tobacco - - - 0.27%
 
Personal Care, Drug & Grocery Stores - 1.93% - -
 
Personal Care, Drug & Grocery Stores - - 1.93% -
 
Personal Products - - - 0.95%
 
Food Retailers & Wholesalers - - - 0.78%
 
Drug Retailers - - - 0.17%
 
Nondurable Household Products - - - 0.03%
 
Industrials 4.73% - - -
 
Industrial Goods & Services - 3.09% - -
 
Industrial Transportation - - 1.25% -
 
Transportation Services - - - 0.49%
 
Marine Transportation - - - 0.21%
 
Delivery Services - - - 0.20%
 
Commercial Vehicles & Parts - - - 0.17%
 
Railroad Equipment - - - 0.06%
 
Railroads - - - 0.05%
 
Trucking - - - 0.04%
 
Commercial Vehicle-Equipment Leasing - - - 0.02%
 
General Industrials - - 0.91% -
 
Diversified Industrials - - - 0.47%
 
Plastics - - - 0.19%
 
Paints & Coatings - - - 0.14%
 
Glass - - - 0.06%
 
Containers & Packaging - - - 0.04%
 
Industrial Engineering - - 0.57% -
 
Machinery: Industrial - - - 0.32%
 
Machinery: Construction & Handling - - - 0.16%
 
Machinery: Engines - - - 0.07%
 
Machinery: Specialty - - - 0.02%
 
Electronic & Electrical Equipment - - 0.16% -
 
Electrical Components - - - 0.10%
 
Electronic Equipment: Other - - - 0.04%
 
Electronic Equipment: Gauges & Meters - - - 0.03%
 
Industrial Support Services - - 0.12% -
 
Industrial Suppliers - - - 0.04%
 
Business Training & Employment Agencies - - - 0.04%
 
Security Services - - - 0.02%
 
Transaction Processing Services - - - 0.02%
 
Professional Business Support Services - - - 0.01%
 
Aerospace & Defence - - 0.08% -
 
Aerospace - - - 0.07%
 
Defense - - - 0.01%
 
Construction & Materials - 1.64% - -
 
Construction & Materials - - 1.64% -
 
Cement - - - 0.81%
 
Construction - - - 0.44%
 
Building Materials: Other - - - 0.20%
 
Engineering & Contracting Services - - - 0.17%
 
Building: Climate Control - - - 0.01%
 
Health Care 4.19% - - -
 
Health Care - 4.19% - -
 
Pharmaceuticals & Biotechnology - - 3.19% -
 
Pharmaceuticals - - - 1.64%
 
Biotechnology - - - 1.55%
 
Medical Equipment & Services - - 0.51% -
 
Medical Supplies - - - 0.41%
 
Medical Equipment - - - 0.10%
 
Health Care Providers - - 0.49% -
 
Health Care Facilities - - - 0.30%
 
Health Care Services - - - 0.15%
 
Health Care Management Services - - - 0.04%
 
Telecommunications 4.15% - - -
 
Telecommunications - 4.15% - -
 
Telecommunications Service Providers - - 3.18% -
 
Telecommunications Services - - - 3.09%
 
Cable Television Services - - - 0.09%
 
Telecommunications Equipment - - 0.97% -
 
Telecommunications Equipment - - - 0.97%
 
Real Estate 2.65% - - -
 
Real Estate - 2.65% - -
 
Real Estate Investment & Services - - 2.57% -
 
Real Estate Holding and Development - - - 2.24%
 
Real Estate Services - - - 0.33%
 
Real Estate Investment Trusts - - 0.07% -
 
Diversified REITs - - - 0.07%
 
Utilities 1.94% - - -
 
Utilities - 1.94% - -
 
Electricity - - 1.19% -
 
Conventional Electricity - - - 0.86%
 
Alternative Electricity - - - 0.33%
 
Gas, Water & Multi-utilities - - 0.72% -
 
Gas Distribution - - - 0.46%
 
Water - - - 0.18%
 
Multi-Utilities - - - 0.08%
 
Waste & Disposal Services - - 0.03% -
 
Waste & Disposal Services - - - 0.03%
 
Non-Classified 0.57% - - -
 
Alternative Trading Strategies 0.03% - - -
 
Alternative Trading Strategies - 0.03% - -
 
Alternative Trading Strategies - - 0.03% -
 
Alternative Trading Strategies - - - 0.03%
 
Cash and Equivalents 0.02% - - -
 
Bonds 0.01% - - -

Regional Allocation

pie chart
  Emerging Asia 52.56%
  North America 14.12%
  Developed Asia 13.72%
  Middle East & Africa 7.70%
  South & Central America 6.88%
  Emerging Europe 3.96%
  Other Regions 1.05%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.99%
  Pound Sterling 0.01%

Regional Breakdown

Expand allCollapse all
Region Country
 
Emerging Asia 52.56% -
 
China - 13.96%
 
Taiwan - 12.76%
 
South Korea - 12.10%
 
India - 8.25%
 
Thailand - 1.78%
 
Malaysia - 1.71%
 
Indonesia - 1.24%
 
Philippines - 0.74%
 
Pakistan - 0.02%
 
North America 14.12% -
 
United States - 14.12%
 
Developed Asia 13.72% -
 
Hong Kong - 13.70%
 
Singapore - 0.03%
 
Middle East & Africa 7.70% -
 
South Africa - 3.43%
 
Saudi Arabia - 2.78%
 
Qatar - 0.82%
 
United Arab Emirates - 0.56%
 
Egypt - 0.11%
 
South & Central America 6.88% -
 
Brazil - 4.56%
 
Mexico - 1.59%
 
Chile - 0.51%
 
Colombia - 0.16%
 
Peru - 0.04%
 
Argentina - 0.02%
 
Emerging Europe 3.96% -
 
Russian Federation - 2.56%
 
Poland - 0.63%
 
Turkey - 0.35%
 
Hungary - 0.19%
 
Greece - 0.13%
 
Czech Republic - 0.10%
 
Developed Europe - Excl UK 0.52% -
 
Netherlands - 0.38%
 
Luxembourg - 0.14%
 
France - 0.00%
 
Sweden - 0.00%
 
Finland - 0.00%
 
Non-Classified 0.33% -
 
UK 0.11% -
 
Jersey - 0.08%
 
United Kingdom - 0.03%
 
Property 0.07% -
 
Cash and Equivalents 0.02% -

Breakdown By Market Cap (%)

Mega
 
 
47.84%
Large
 
 
23.99%
Medium
 
 
13.17%
Small
 
 
0.04%
Non-Classified
 
 
14.93%
Bonds
 
 
0.01%
Cash
 
 
0.02%

Top 10 Holdings

Stock % Weight Sector Country
1 ALIBABA GROUP HLDG LTD 8.66% Retailers United States
2 TENCENT HLDGS LTD 5.93% Software & Computer Services Hong Kong
3 TAIWAN SEMICONDUCTOR MANUFACTURING 5.78% Technology Hardware & Equipment Taiwan
4 SAMSUNG ELECTRONICS CO 3.74% Technology Hardware & Equipment South Korea
5 MEITUAN DIANPING 1.74% Software & Computer Services Hong Kong
6 NASPERS 1.22% Software & Computer Services South Africa
7 JD.COM INC 1.03% Retailers United States
8 CHINA CONSTRUCTION BANK 0.98% Banks China
9 PING AN INSURANCE(GR)CO OF CHINA 0.96% Life Insurance China
10 RELIANCE INDUSTRIES 0.91% Non-Renewable Energy India

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 27.92% - - - - - - 27.92%
Telecommunications - 4.15% - - - - - - 4.15%
Financials - 17.15% - - - - - - 17.15%
Real Estate 0.03% 2.55% - - - 0.07% - - 2.65%
Consumer Discretionary - 19.64% - - - - - - 19.64%
Consumer Staples - 5.45% - - - - - - 5.45%
Energy - 5.76% - - - - - - 5.76%
Utilities - 1.94% - - - - - - 1.94%
Health Care - 4.19% - - - - - - 4.19%
Industrials - 4.73% - - - - - - 4.73%
Basic Materials - 5.80% - - - - - - 5.80%
Cash and Equivalents - - - - - - - 0.01% 0.01%
Bonds - - - 0.01% - - - - 0.01%
Non-Classified - 0.55% - - - - 0.05% 0.01% 0.61%

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: 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 B4ZP2W3
Mex Code PUAAAC
Isin Code GB00B4ZP2W35
Citi Code MRP2

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 BlackRock Aquila Connect Emerging Markets Equity Fund - the underlying fund. Underlying Fund Objective: The fund aims to achieve a return that is consistent with the return of the MSCI Emerging Markets Index.
Benchmark MSCI Global Emerging Markets Index
ABI Sector Global Emerging Markets 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: 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

Higher Risk

These are specialist equity funds that focus on set geographical regions or a particular type of share e.g. shares of smaller companies or those that conform to certain criteria.

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

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: 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.