Prudential BlackRock Aquila All Stocks Corporate Bond Index 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 13.4% -0.6% 0.8% 10.0% 3.8%
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 1.5% 4.8% 5.4% 5.7%
Benchmark 1.2% 4.6% 5.4% 5.7%

Top 10 Holdings

Stock % Weight
KFW BANKENGRUPPE MTN 6 12/07/2028 0.67
European Investment Bank 6% 2028 0.62
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.50
KFW MTN RegS 0.875 03/15/2022 0.43
KFW BANKENGRUPPE MTN 5.75 06/07/2032 0.39
INTER-AMERICAN DEVELOPMENT BANK 1.25 12/15/2023 0.38
EUROPEAN INVESTMENT BANK 5 04/15/2039 0.38
ELECTRICITE DE FRANCE SA MTN RegS 6 01/23/2114 0.35
EUROPEAN INVESTMENT BANK MTN RegS 0.875 12/15/2023 0.35
ELECTRICITE DE FRANCE SA MTN RegS 5.5 10/17/2041 0.35
Total 4.41

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the BlackRock Aquila Life Corporate Bond Index Fund All Stocks - the underlying fund.

Underlying Fund Objective: The fund invests in investment grade corporate bonds denominated in sterling and aims to achieve a return consistent with the iBoxx £ Non-Gilts Index. This index covers the broad spectrum of investment grade corporate bonds in issue.

Fund Manager

Team Managed manager of the underlying fund for 20 years and 9 months

Photo of Team Managed Team Managed

Fund Overview

Daily price (25/11/2020) 226.50
Fund size (30/09/2020) £7.15m
Underlying Fund size £1323.88m
Number of holdings 1784
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 15/07/2005

Asset Allocation

pie chart
  International Bonds 56.44%
  UK Corporate Bonds 42.96%
  UK Gilts 0.29%
  Cash and Equivalents 0.08%
  Alternative Trading Strategies 0.07%
  Other Assets 0.16%

Performance comment

Performance as at Q2 2020 - Across the curve, 5-year and 10-year UK gilt yields ended the month of June lower, falling to -0.053% and 0.172%, respectively. The UK 30-year gilt yield ended the month slightly higher at 0.643% from 0.584%. 10-year UK gilt and German bund yields fell during June while 10-year US treasury yields increased by 0.004% over the period, to end the month at 0.6561%.

In mid-June, the Bank of England (“BoE”) expanded its monetary easing with a top-up of £100 billion to its quantitative easing programme. The news marked the reality of a slowdown in the pace weekly purchases and came as a surprise to some market participants. BoE Governor Bailey emphasised that purchases remained fast by historic standards, represented calmer financial markets and that the Monetary Policy Committee (“MPC”) had no trigger in mind for expanding future quantitative easing. Its expected that total asset purchases will amount to £745 billion by the end of the year. In addition, the MPC voted unanimously to maintain Bank Rate at 0.1%.

The UK composite purchasing managers’ index increased to 47.6 in June from 30 in May, this rise was above market forecasts of 41. Both UK services and manufacturing PMI’s increased by 18 and 9.4 points respectively. Although underlying demand is still subdued, the gradual easing of COVID-19 related lockdowns is having a favorable impact on economic activity.

While monthly UK retail sales for May were down by 13.1% on the February prior to the COVID-19 induced lockdown, May still represented an improving outlook with an increase of 12% compared to the previous month. Non-food stores were the most prominent contributor as non-essential retail premises started to open for the first time since March. In addition, the proportion spent online reached new levels in May at 33.4%. This shift in online spending may have a lasting impact of the future of UK high streets.

The Consumer Prices Index (CPIH) 12-month rate was 0.7% in May, a decrease of 20 basis points, from 0.9% in April. Falling fuel, recreation and cultural goods had the most significant downward contribution. Food and non-alcoholic drinks partially offset the change. The ONS estimate that 14.2% of the CPIH basket (by weight) was not available to UK consumers as a result of the covid-19 pandemic during May, down from 16.3% in April. Longerterm market expectations of inflation increased slightly as the 30-year breakeven rate moved 9 basis points (“bps”) to 2.97%.

Source: BlackRock

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 56.44%
  UK Corporate Bonds 42.96%
  UK Gilts 0.29%
  Cash and Equivalents 0.08%
  Alternative Trading Strategies 0.07%
  Other Assets 0.16%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 99.69% - - -
 
Non-Classified 0.16% - - -
 
Cash and Equivalents 0.08% - - -
 
Alternative Trading Strategies 0.07% - - -
 
Alternative Trading Strategies - 0.07% - -
 
Alternative Trading Strategies - - 0.07% -
 
Alternative Trading Strategies - - - 0.07%

Regional Allocation

pie chart
  UK 43.25%
  Developed Europe - Excl UK 34.45%
  North America 15.94%
  Non-Classified 2.19%
  Australia & New Zealand 1.64%
  Emerging Asia 0.82%
  Other Regions 1.72%

Fixed Interest Currencies

pie chart
  Pound Sterling 96.00%
  US Dollar 3.37%
  Non-Fixed Interest Assets 0.29%
  Euro 0.21%
  Australian Dollar 0.06%
  Lari 0.05%
  Cash 0.02%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 43.25% -
 
United Kingdom - 43.25%
 
Developed Europe - Excl UK 34.45% -
 
France - 7.95%
 
Netherlands - 6.68%
 
Luxembourg - 6.67%
 
Germany - 6.61%
 
Ireland - 0.99%
 
Sweden - 0.96%
 
Spain - 0.80%
 
Norway - 0.80%
 
Italy - 0.65%
 
Denmark - 0.61%
 
Finland - 0.55%
 
Belgium - 0.46%
 
Austria - 0.39%
 
Switzerland - 0.35%
 
North America 15.94% -
 
United States - 14.20%
 
Canada - 1.73%
 
Non-Classified 2.19% -
 
Australia & New Zealand 1.64% -
 
Australia - 1.61%
 
New Zealand - 0.03%
 
Emerging Asia 0.82% -
 
Philippines - 0.54%
 
China - 0.24%
 
South Korea - 0.03%
 
South & Central America 0.70% -
 
Mexico - 0.70%
 
Japan 0.32% -
 
Japan - 0.32%
 
Developed Asia 0.31% -
 
Singapore - 0.18%
 
Hong Kong - 0.13%
 
Middle East & Africa 0.25% -
 
United Arab Emirates - 0.14%
 
Cote D'Ivoire - 0.12%
 
Cash and Equivalents 0.08% -
 
Emerging Europe 0.05% -
 
Czech Republic - 0.05%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
31.61%
5Yr - 10Yr Maturity
 
 
25.30%
10Yr - 15Yr Maturity
 
 
13.21%
> 15Yr Maturity
 
 
29.57%
Cash And Equivalents
 
 
0.08%
Unknown Maturity
 
 
0.16%
Other Asset Types
 
 
0.07%

Fixed Interest Quality Profile

AAA
 
 
19.98%
AA
 
 
13.12%
A
 
 
27.20%
BBB
 
 
32.25%
Sub-Investment Grade
 
 
0.18%
Unknown Quality
 
 
6.96%
Cash and Equivalents
 
 
0.08%
Other Asset Types
 
 
0.23%

Top 10 Holdings

Stock % Weight Sector Country
1 KFW BANKENGRUPPE MTN 6 12/07/2028 0.67% Bonds Germany
2 European Investment Bank 6% 2028 0.62% Bonds Luxembourg
3 EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.50% Bonds Luxembourg
4 KFW MTN RegS 0.875 03/15/2022 0.43% Bonds Germany
5 KFW BANKENGRUPPE MTN 5.75 06/07/2032 0.39% Bonds Germany
6 INTER-AMERICAN DEVELOPMENT BANK 1.25 12/15/2023 0.38% Bonds Luxembourg
7 EUROPEAN INVESTMENT BANK 5 04/15/2039 0.38% Bonds Luxembourg
8 ELECTRICITE DE FRANCE SA MTN RegS 6 01/23/2114 0.35% Bonds France
9 EUROPEAN INVESTMENT BANK MTN RegS 0.875 12/15/2023 0.35% Bonds Luxembourg
10 ELECTRICITE DE FRANCE SA MTN RegS 5.5 10/17/2041 0.35% Bonds France

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 B08ZTP4
Mex Code PURAF
Isin Code GB00B08ZTP47
Citi Code UO36

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 Life Corporate Bond Index Fund All Stocks - the underlying fund. Underlying Fund Objective: The fund invests in investment grade corporate bonds denominated in sterling and aims to achieve a return consistent with the iBoxx £ Non-Gilts Index. This index covers the broad spectrum of investment grade corporate bonds in issue.
Benchmark iBoxx Sterling Non-Gilts Index
ABI Sector Sterling Corporate Bond

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.