PIA M&G Episode Growth Ser B

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

Performance

Discrete performance - to last month end

31/07/17
to
31/07/18
31/07/18
to
31/07/19
31/07/19
to
31/07/20
31/07/20
to
31/07/21
31/07/21
to
31/07/22
Fund 4.6% -2.0% 0.7% 15.2% -1.2%
Sector 4.0% 5.5% -3.0% 14.2% -4.5%
Rank 161/375 379/398 83/424 214/462 142/472
Quartile 2 4 1 2 2

Annualised performance

Annualised
3 Years to
31/07/22
5 Years to
31/07/22
10 Years to
31/07/22
Fund 4.6% 3.2% 6.4%
Sector 1.9% 3.0% 5.4%
Rank 53/424 155/375 78/234
Quartile 1 2 2

Top 10 Holdings

Stock % Weight
UNITED STATES TREASURY 0% 11/08/2022 4.64
UNITED STATES TREASURY 0% 18/08/2022 3.05
CHILE (REPUBLIC OF) 4.7% 01/09/2030 2.88
UNITED KINGDOM (GOVERNMENT OF) 0% 10/10/2022 2.45
APPLE INC 1.54
H-SHARES INDEX AUG 22 HKD 1.36
MICROSOFT CORP 1.16
AMAZON.COM 0.72
NESTLE S.A. 0.52
TESLA INC 0.46
Total 18.78

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G Episode Growth Fund - the underlying fund.

Underlying Fund Objective: The fund aims to provide a higher total return (the combination of capital growth and income) net of the Ongoing Charge Figure, than the average return of the IA Mixed Investment 40-85% Shares Sector over any five-year period. It is a multi-asset fund that invests across a range of asset classes, including equities, fixed income securities, convertibles, cash and near cash. Exposure to these assets may be gained either directly or indirectly via collective investment schemes or derivatives. The fund may also invest indirectly via collective investment schemes or derivatives in other asset classes such as property and gold. The currency exposure of the fund will be actively managed, seeking to enhance returns, with a minimum of 25% of the fund exposed to sterling and a minimum of 50% in developed market currencies (including sterling). Derivatives may be used for investment purposes, efficient portfolio management and hedging.

Fund Manager

Craig Simpson manager of the underlying fund for 2 years and 7 months

Photo of Craig Simpson Craig Simpson was appointed co-manager of the M&G Episode Growth Fund in December 2019, and co-deputy fund manager of the M&G Global Target Return Fund from launch in December 2016. In February 2015, he was appointed Head of Portfolio Management for the Multi Asset team. Craig joined M&G in 2004 as a portfolio manager and has more than 15 years’ experience in the investment industry. Prior to joining M&G, Craig was a trainee fund manager at Equitable Life Assurance and an analyst at Pictet Asset Management. He graduated from the University of Aberdeen with a degree in land economics.

Eric Lonergan manager of the underlying fund for 2 years and 7 months

Photo of Eric Lonergan Eric Lonergan joined M&G in 2006 as a member of Dave Fishwick’s Multi Asset team and is manager of the M&G Episode Defensive Fund since launch in September 2012. He is also co-manager of the M&G Episode Macro Fund and the M&G Episode Growth Fund. Prior to joining M&G, Eric was managing director and head of macro research at JP Morgan Cazenove. He has a BA in politics, philosophy and economics from Pembroke College, Oxford, and an MSc in economics from the London School of Economics.

Fund Overview

Bid (16/08/2022) 3.58
Offer (16/08/2022) 3.76
Fund size (30/06/2022) £3.46m
Underlying Fund size £811.85m
Number of holdings 4049
Launch date 09/04/2003

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.00%
Yearly Total 1.30%

Asset Allocation

pie chart
  International Equities 40.88%
  International Bonds 17.95%
  Cash and Equivalents 7.09%
  UK Equities 5.63%
  UK Corporate Bonds 3.16%
  Property 0.52%
  Alternative Trading Strategies 0.41%
  Money Market 0.12%
  Investment Trusts 0.01%
  Other Assets 24.24%
Portfolio data accurate as at: 31/07/22

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 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 product charges, or 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 the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 40.88%
  International Bonds 17.95%
  Cash and Equivalents 7.09%
  UK Equities 5.63%
  UK Corporate Bonds 3.16%
  Property 0.52%
  Alternative Trading Strategies 0.41%
  Money Market 0.12%
  Investment Trusts 0.01%
  Other Assets 24.24%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Non-Classified 24.46% - - -
 
Non-Classified - 22.21% - -
 
Non-Classified - - 22.21% -
 
Non-Classified - - - 22.21%
 
Bonds 21.11% - - -
 
Technology 9.15% - - -
 
Technology - 9.15% - -
 
Software & Computer Services - - 5.06% -
 
Software - - - 2.43%
 
Consumer Digital Services - - - 2.04%
 
Computer Services - - - 0.60%
 
Technology Hardware & Equipment - - 4.09% -
 
Computer Hardware - - - 1.83%
 
Semiconductors - - - 1.44%
 
Production Technology Equipment - - - 0.53%
 
Electronic Components - - - 0.25%
 
Electronic Office Equipment - - - 0.03%
 
Cash and Equivalents 7.12% - - -
 
Financials 6.97% - - -
 
Banks - 3.25% - -
 
Banks - - 3.25% -
 
Banks - - - 3.25%
 
Financial Services - 2.07% - -
 
Investment Banking & Brokerage Services - - 1.58% -
 
Investment Services - - - 0.61%
 
Asset Managers & Custodians - - - 0.54%
 
Diversified Financial Services - - - 0.43%
 
Finance & Credit Services - - 0.48% -
 
Financial Data & Systems - - - 0.22%
 
Mortgage Finance - - - 0.18%
 
Consumer Lending - - - 0.08%
 
Equity Investment Instruments - - 0.01% -
 
Equity Investment Instruments - - - 0.01%
 
Mortgage Real Estate Investment Trusts - - 0.01% -
 
Mortgage REITs: Residential - - - 0.01%
 
Insurance - 1.65% - -
 
Non-life Insurance - - 1.03% -
 
Full Line Insurance - - - 0.41%
 
Property & Casualty Insurance - - - 0.40%
 
Insurance Brokers - - - 0.12%
 
Reinsurance - - - 0.11%
 
Life Insurance - - 0.61% -
 
Life Insurance - - - 0.61%
 
Consumer Discretionary 6.78% - - -
 
Retail - 2.27% - -
 
Retailers - - 2.27% -
 
Diversified Retailers - - - 1.64%
 
Home Improvement Retailers - - - 0.29%
 
Specialty Retailers - - - 0.18%
 
Apparel Retailers - - - 0.16%
 
Consumer Products & Services - 1.72% - -
 
Personal Goods - - 0.93% -
 
Clothing & Accessories - - - 0.54%
 
Footwear - - - 0.15%
 
Cosmetics - - - 0.13%
 
Luxury Items - - - 0.12%
 
Leisure Goods - - 0.29% -
 
Electronic Entertainment - - - 0.17%
 
Consumer Electronics - - - 0.08%
 
Recreational Products - - - 0.02%
 
Toys - - - 0.01%
 
Recreational Vehicles & Boats - - - 0.00%
 
Consumer Services - - 0.27% -
 
Consumer Services: Misc. - - - 0.16%
 
Vending & Catering Service - - - 0.10%
 
Education Services - - - 0.01%
 
Rental & Leasing Services: Consumer - - - 0.01%
 
Household Goods & Home Construction - - 0.23% -
 
Home Construction - - - 0.16%
 
Household Equipment & Products - - - 0.05%
 
Household Appliance - - - 0.02%
 
Household Furnishings - - - 0.00%
 
Automobiles & Parts - 1.24% - -
 
Automobiles & Parts - - 1.24% -
 
Automobiles - - - 1.08%
 
Auto Parts - - - 0.14%
 
Tires - - - 0.02%
 
Auto Services - - - 0.01%
 
Travel & Leisure - 0.89% - -
 
Travel & Leisure - - 0.89% -
 
Restaurants & Bars - - - 0.33%
 
Casinos & Gambling - - - 0.24%
 
Hotels & Motels - - - 0.14%
 
Travel & Tourism - - - 0.13%
 
Airlines - - - 0.03%
 
Recreational Services - - - 0.03%
 
Media - 0.65% - -
 
Media - - 0.65% -
 
Media Agencies - - - 0.19%
 
Publishing - - - 0.18%
 
Entertainment - - - 0.18%
 
Radio & TV Broadcasters - - - 0.10%
 
Industrials 6.66% - - -
 
Industrial Goods & Services - 5.85% - -
 
Industrial Support Services - - 1.76% -
 
Transaction Processing Services - - - 0.80%
 
Professional Business Support Services - - - 0.67%
 
Industrial Suppliers - - - 0.12%
 
Business Training & Employment Agencies - - - 0.10%
 
Security Services - - - 0.03%
 
Forms & Bulk Printing Services - - - 0.03%
 
Industrial Transportation - - 1.19% -
 
Railroads - - - 0.32%
 
Marine Transportation - - - 0.28%
 
Delivery Services - - - 0.20%
 
Transportation Services - - - 0.15%
 
Trucking - - - 0.09%
 
Commercial Vehicles & Parts - - - 0.07%
 
Commercial Vehicle-Equipment Leasing - - - 0.06%
 
Railroad Equipment - - - 0.02%
 
General Industrials - - 1.00% -
 
Diversified Industrials - - - 0.68%
 
Containers & Packaging - - - 0.22%
 
Paints & Coatings - - - 0.06%
 
Plastics - - - 0.03%
 
Glass - - - 0.01%
 
Aerospace & Defence - - 0.68% -
 
Aerospace - - - 0.38%
 
Defense - - - 0.30%
 
Electronic & Electrical Equipment - - 0.62% -
 
Electrical Components - - - 0.25%
 
Electronic Equipment: Gauges & Meters - - - 0.19%
 
Electronic Equipment: Control & Filter - - - 0.12%
 
Electronic Equipment: Other - - - 0.04%
 
Electronic Equipment: Pollution Control - - - 0.02%
 
Industrial Engineering - - 0.61% -
 
Machinery: Industrial - - - 0.24%
 
Machinery: Construction & Handling - - - 0.12%
 
Machinery: Tools - - - 0.09%
 
Machinery: Agricultural - - - 0.09%
 
Machinery: Engines - - - 0.08%
 
Machinery: Specialty - - - 0.00%
 
Construction & Materials - 0.81% - -
 
Construction & Materials - - 0.81% -
 
Building Materials: Other - - - 0.29%
 
Construction - - - 0.18%
 
Cement - - - 0.12%
 
Engineering & Contracting Services - - - 0.10%
 
Building: Climate Control - - - 0.09%
 
Building, Roofing/Wallboard & Plumbing - - - 0.03%
 
Health Care 5.69% - - -
 
Health Care - 5.69% - -
 
Pharmaceuticals & Biotechnology - - 3.69% -
 
Pharmaceuticals - - - 3.22%
 
Biotechnology - - - 0.48%
 
Medical Equipment & Services - - 1.35% -
 
Medical Equipment - - - 0.95%
 
Medical Supplies - - - 0.36%
 
Medical Services - - - 0.04%
 
Health Care Providers - - 0.65% -
 
Health Care Management Services - - - 0.50%
 
Health Care Services - - - 0.10%
 
Health Care Facilities - - - 0.05%
 
Consumer Staples 3.52% - - -
 
Food, Beverage & Tobacco - 2.43% - -
 
Food Producers - - 1.14% -
 
Food Products - - - 1.05%
 
Farming, Fishing, Ranching & Plantations - - - 0.05%
 
Fruit & Grain Processing - - - 0.04%
 
Beverages - - 0.92% -
 
Soft Drinks - - - 0.37%
 
Distillers & Vintners - - - 0.34%
 
Brewers - - - 0.21%
 
Tobacco - - 0.38% -
 
Tobacco - - - 0.38%
 
Personal Care, Drug & Grocery Stores - 1.09% - -
 
Personal Care, Drug & Grocery Stores - - 1.09% -
 
Personal Products - - - 0.55%
 
Food Retailers & Wholesalers - - - 0.27%
 
Drug Retailers - - - 0.15%
 
Nondurable Household Products - - - 0.12%
 
Energy 2.13% - - -
 
Energy - 2.13% - -
 
Non-Renewable Energy - - 2.00% -
 
Integrated Oil & Gas - - - 1.05%
 
Oil: Crude Producers - - - 0.34%
 
Pipelines - - - 0.21%
 
Oil Refining and Marketing - - - 0.20%
 
Oil Equipment & Services - - - 0.17%
 
Coal - - - 0.03%
 
Offshore Drilling & Other Services - - - 0.02%
 
Renewable Energy - - 0.12% -
 
Renewable Energy Equipment - - - 0.11%
 
Alternative Fuels - - - 0.01%
 
Basic Materials 1.86% - - -
 
Basic Resources - 1.03% - -
 
Industrial Metals & Mining - - 0.84% -
 
General Mining - - - 0.53%
 
Iron & Steel - - - 0.13%
 
Metal Fabricating - - - 0.08%
 
Copper - - - 0.05%
 
Aluminum - - - 0.02%
 
Nonferrous Metals - - - 0.02%
 
Precious Metals & Mining - - 0.11% -
 
Gold Mining - - - 0.10%
 
Platinum & Precious Metals - - - 0.00%
 
Industrial Materials - - 0.09% -
 
Paper - - - 0.06%
 
Forestry - - - 0.02%
 
Diversified Materials - - - 0.01%
 
Textile Products - - - 0.00%
 
Chemicals - 0.83% - -
 
Chemicals - - 0.83% -
 
Chemicals: Diversified - - - 0.49%
 
Specialty Chemicals - - - 0.27%
 
Fertilizers - - - 0.07%
 
Chemicals & Synthetic Fibers - - - 0.01%
 
Utilities 1.50% - - -
 
Utilities - 1.50% - -
 
Electricity - - 0.93% -
 
Conventional Electricity - - - 0.82%
 
Alternative Electricity - - - 0.11%
 
Gas, Water & Multi-utilities - - 0.49% -
 
Multi-Utilities - - - 0.33%
 
Water - - - 0.09%
 
Gas Distribution - - - 0.07%
 
Waste & Disposal Services - - 0.08% -
 
Waste & Disposal Services - - - 0.08%
 
Telecommunications 1.40% - - -
 
Telecommunications - 1.40% - -
 
Telecommunications Service Providers - - 1.09% -
 
Telecommunications Services - - - 0.93%
 
Cable Television Services - - - 0.16%
 
Telecommunications Equipment - - 0.31% -
 
Telecommunications Equipment - - - 0.31%
 
Real Estate 1.26% - - -
 
Real Estate - 1.26% - -
 
Real Estate Investment Trusts - - 0.84% -
 
Residential REITs - - - 0.16%
 
Infrastructure REITs - - - 0.14%
 
Industrial REITs - - - 0.12%
 
Retail REITs - - - 0.11%
 
Other Specialty REITs - - - 0.08%
 
Health Care REITs - - - 0.05%
 
Diversified REITs - - - 0.05%
 
Office REITs - - - 0.05%
 
Storage REITs - - - 0.03%
 
Hotel & Lodging REITs - - - 0.03%
 
Timber REITs - - - 0.02%
 
Real Estate Investment & Services - - 0.42% -
 
Real Estate Holding and Development - - - 0.31%
 
Real Estate Services - - - 0.11%
 
Alternative Trading Strategies 0.41% - - -
 
Alternative Trading Strategies - 0.41% - -
 
Alternative Trading Strategies - - 0.41% -
 
Alternative Trading Strategies - - - 0.41%

Regional Allocation

pie chart
  North America 34.16%
  Non-Classified 24.82%
  Developed Europe - Excl UK 13.45%
  UK 8.79%
  Cash and Equivalents 7.21%
  Emerging Asia 3.34%
  South & Central America 2.97%
  Japan 1.83%
  Developed Asia 1.65%
  Other Regions 1.78%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 71.83%
  Pound Sterling 7.63%
  Cash 7.06%
  Unrecognised 5.38%
  US Dollar 5.07%
  Chilean Peso 2.88%
  Other Currencies 0.14%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 34.16% -
 
United States - 32.93%
 
Canada - 1.23%
 
Non-Classified 24.82% -
 
Developed Europe - Excl UK 13.45% -
 
France - 2.95%
 
Switzerland - 2.42%
 
Netherlands - 2.04%
 
Germany - 1.76%
 
Spain - 0.70%
 
Denmark - 0.69%
 
Ireland - 0.68%
 
Sweden - 0.67%
 
Italy - 0.42%
 
Belgium - 0.31%
 
Finland - 0.30%
 
Norway - 0.26%
 
Luxembourg - 0.17%
 
Austria - 0.05%
 
Portugal - 0.04%
 
UK 8.79% -
 
United Kingdom - 8.79%
 
Cash and Equivalents 7.21% -
 
Emerging Asia 3.34% -
 
China - 2.10%
 
South Korea - 0.44%
 
Taiwan - 0.35%
 
India - 0.31%
 
Indonesia - 0.07%
 
Thailand - 0.07%
 
South & Central America 2.97% -
 
Chile - 2.88%
 
Mexico - 0.08%
 
Japan 1.83% -
 
Japan - 1.83%
 
Developed Asia 1.65% -
 
Hong Kong - 1.35%
 
Singapore - 0.30%
 
Australia & New Zealand 1.16% -
 
Australia - 1.12%
 
New Caledonia - 0.02%
 
New Zealand - 0.02%
 
Property 0.52% -
 
Middle East & Africa 0.07% -
 
Israel - 0.07%
 
Emerging Europe 0.03% -
 
Poland - 0.03%

Breakdown By Market Cap (%)

Mega
 
 
31.02%
Large
 
 
9.60%
Medium
 
 
2.64%
Small
 
 
1.37%
Micro
 
 
0.30%
Non-Classified
 
 
26.84%
Bonds
 
 
21.11%
Cash
 
 
7.12%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
7.49%
5Yr - 10Yr Maturity
 
 
5.18%
10Yr - 15Yr Maturity
 
 
1.14%
> 15Yr Maturity
 
 
7.31%
Cash And Equivalents
 
 
7.12%
Unknown Maturity
 
 
2.12%
Other Asset Types
 
 
69.66%

Fixed Interest Quality Profile

AAA
 
 
5.57%
AA
 
 
0.64%
A
 
 
2.67%
BBB
 
 
4.33%
Sub-Investment Grade
 
 
0.06%
Unknown Quality
 
 
7.84%
Cash and Equivalents
 
 
7.12%
Other Asset Types
 
 
71.77%

Top 10 Holdings

Stock % Weight Sector Country
1 UNITED STATES TREASURY 0% 11/08/2022 4.64% Bonds United States
2 UNITED STATES TREASURY 0% 18/08/2022 3.05% Non-Classified Non-Classified
3 CHILE (REPUBLIC OF) 4.7% 01/09/2030 2.88% Bonds Chile
4 UNITED KINGDOM (GOVERNMENT OF) 0% 10/10/2022 2.45% Non-Classified Non-Classified
5 APPLE INC 1.54% Technology Hardware & Equipment United States
6 H-SHARES INDEX AUG 22 HKD 1.36% Non-Classified Non-Classified
7 MICROSOFT CORP 1.16% Software & Computer Services United States
8 AMAZON.COM 0.72% Retailers United States
9 NESTLE S.A. 0.52% Food Producers Switzerland
10 TESLA INC 0.46% Automobiles & Parts United States

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).

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

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 3283079
Mex Code SBMGCB
Isin Code IE0032830790
Citi Code S779

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.00%
Yearly Total 1.30%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G Episode Growth Fund - the underlying fund. Underlying Fund Objective: The fund aims to provide a higher total return (the combination of capital growth and income) net of the Ongoing Charge Figure, than the average return of the IA Mixed Investment 40-85% Shares Sector over any five-year period. It is a multi-asset fund that invests across a range of asset classes, including equities, fixed income securities, convertibles, cash and near cash. Exposure to these assets may be gained either directly or indirectly via collective investment schemes or derivatives. The fund may also invest indirectly via collective investment schemes or derivatives in other asset classes such as property and gold. The currency exposure of the fund will be actively managed, seeking to enhance returns, with a minimum of 25% of the fund exposed to sterling and a minimum of 50% in developed market currencies (including sterling). Derivatives may be used for investment purposes, efficient portfolio management and hedging.
Benchmark IA Mixed Investment 40-85% Shares Sector
ABI Sector Mixed Investment 40-85% Shares

Ratings

FE Crown Crown Rating of 4

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).

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.

Risk Analysis

Ratio Value
Alpha 2.73
Beta 1.04
Sharpe 0.09
Standard Deviation 13.00
Info Ratio 0.53

Risk Factors

Risk Factor Yes / No
Charges to Capital Yes
Emerging Markets Yes
Concentrated Portfolio No
Smaller Companies No
High Yield Bonds No
Sector Specific No
Geared Investments No
Value of Investments Yes
Investments Long Term Yes
Property No
Exchange Rate Yes
Higher Risk No
Performance Charges No
Derivative Exposure No
Offshore No
Income Eroding Capital Growth Yes
Umbrella Liabilities Yes
New Fund No
Solvency of Depository No
Solvency of Bond Issuers Yes
Ethical Restrictions No
Liquidity No
Returns Are Not Guaranteed Yes
Inflation Yes
Taxation and Tax Relief Yes

Fund Specific Risks

Charges to Capital

Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).

Emerging Markets

The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.

Value of Investments

The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.

Investments Long Term

Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.

Exchange Rate

This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.

Income Eroding Capital Growth

The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.

Umbrella Liabilities

If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.

Solvency of Bond Issuers

If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.

Returns Are Not Guaranteed

What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.

Inflation

Inflation will reduce the real value of your investments in future.

Taxation and Tax Relief

Levels of taxation and tax relief are subject to change.

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).

The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.

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 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 product charges, or 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 the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.

The registered office of Prudential International is in Ireland at Montague House, Adelaide Road, Dublin 2. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.