Premier Miton Premier Miton Cautious Monthly Income Class B Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
30/11/24 to 30/11/25 |
|
|---|---|---|---|---|---|
| Fund | 11.2% | -2.4% | 0.8% | 12.2% | 16.6% |
| Sector | 7.9% | -7.5% | 1.9% | 11.3% | 8.6% |
| Rank | 24/157 | 18/163 | 135/171 | 67/185 | 6/191 |
| Quartile | 1 | 1 | 4 | 2 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/25 |
5 Years to 30/11/25 |
10 Years to 30/11/25 |
||
| Fund | 9.7% | 7.4% | 6.2% | |
| Sector | 7.2% | 4.2% | 4.5% | |
| Rank | 11/171 | 5/157 | 9/111 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| AVIVA | 1.09 |
| WOODSIDE ENERGY GROUP LTD | 0.98 |
| PHOENIX GROUP HOLDINGS | 0.97 |
| EQUINOR ASA | 0.96 |
| ROYAL BANK OF SCOTLAND GROUP | 0.95 |
| BROADCOM | 0.93 |
| SEA LIMITED | 0.92 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 0.91 |
| JPMORGAN CHASE & CO | 0.91 |
| BRITISH AMERICAN TOBACCO P.L.C. | 0.90 |
| Total | 9.51 |
Fund Aims
The objective of the fund is to achieve income and capital growth, over the long term, being five years or more. Five years is also the minimum recommended term for holding units in this fund. This does not mean that the fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested. The Investment Manager aims to achieve the objective of the fund by investing in a diversified portfolio of global investments covering different assets, which will include equities (company shares), fixed income (including bonds issued by governments and companies), cash and cash deposits. Exposure to investments in property and commodities will be indirect, for example through property company shares and exchange traded funds. The Investment Manager will assess the broad economic environment, focusing on areas such as economic growth, inflation expectations and the outlook for interest rates, to determine the attractiveness of the asset classes in which the fund can invest. The Investment Manager will maintain exposure to a broad spread of underlying assets, although the combined holdings in equities and fixed income will make up the largest part of the fund. In order to create a diversified portfolio, the Investment Manager will usually maintain a portfolio of at least 100 individual investments. The fund may invest in derivatives and forward transactions (these are contracts whose value is based on the change in price of an underlying investment), for the purposes of efficient portfolio management including hedging (hedging is designed to offset the risk of another investment falling in price). Income generated from investments will be distributed monthly by way of dividend distributions.
Fund Manager
Anthony Rayner joined Premier Miton in June 2014. Before joining Premier Miton, Anthony worked for Darwin Investment Managers, analysing portfolio construction and risk for the Darwin Multi Asset Fund alongside David Jane. Prior to this, he worked for M&G, focusing on portfolio construction and risk for UK equity funds and then for the multi asset fund range. Previously, he was a member of the Asset Allocation and Economics team at Merrill Lynch Investment Managers
David Jane joined Premier Miton in June 2014. He founded Darwin Investment Managers in September 2010 and prior to that he was Head of Equities Investments at M&G. David joined M&G in December 2000 as a Fund Manager in the global specialist equity team before becoming Head of Equities investments. Whilst there he was portfolio manager of the M&G Managed Fund and the M&G Cautious Multi Asset Fund, which he launched in February 2007 and grew to over £300 million during his tenure. Prior to M&G, David was the Head of Global Financials Research at AXA Investment Management and before that he was at Newton Investment Management as Director of Global Financials Research. He also served as Non-Executive Director of M&G High Income Investment Trust plc from October 2002 to July 2010.
Fund Overview
| Mid | - |
| Historic yield | 4.82% |
| Fund size (31/08/2025) | £209.51m |
| Number of holdings | 190 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
| Launch date | 18/10/2012 |
Asset Allocation
| International Equities | 45.76% | |
| International Bonds | 22.24% | |
| UK Corporate Bonds | 15.02% | |
| UK Equities | 10.56% | |
| Commodities | 3.70% | |
| Cash and Equivalents | 2.27% | |
| Property | 0.22% | |
| Investment Trusts | 0.22% |
Important Information
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 ongoing charges, but take no account of product charges. Ongoing charges 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 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. 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 report or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 45.76% | |
| International Bonds | 22.24% | |
| UK Corporate Bonds | 15.02% | |
| UK Equities | 10.56% | |
| Commodities | 3.70% | |
| Cash and Equivalents | 2.27% | |
| Property | 0.22% | |
| Investment Trusts | 0.22% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 37.27% | - | - | - | |
| Financials | 13.91% | - | - | - | |
| Banks | - | 7.73% | - | - | |
| Banks | - | - | 7.73% | - | |
| Banks | - | - | - | 7.73% | |
| Insurance | - | 3.52% | - | - | |
| Life Insurance | - | - | 2.06% | - | |
| Life Insurance | - | - | - | 2.06% | |
| Non-life Insurance | - | - | 1.46% | - | |
| Full Line Insurance | - | - | - | 0.97% | |
| Property & Casualty Insurance | - | - | - | 0.49% | |
| Financial Services | - | 2.66% | - | - | |
| Investment Banking & Brokerage Services | - | - | 1.11% | - | |
| Investment Services | - | - | - | 1.11% | |
| Mortgage Real Estate Investment Trusts | - | - | 0.82% | - | |
| Mortgage REITs: Residential | - | - | - | 0.82% | |
| Finance & Credit Services | - | - | 0.51% | - | |
| Consumer Lending | - | - | - | 0.51% | |
| Equity Investment Instruments | - | - | 0.22% | - | |
| Equity Investment Instruments | - | - | - | 0.22% | |
| Industrials | 13.50% | - | - | - | |
| Industrial Goods & Services | - | 10.75% | - | - | |
| Aerospace & Defence | - | - | 3.67% | - | |
| Aerospace | - | - | - | 2.64% | |
| Defense | - | - | - | 1.03% | |
| General Industrials | - | - | 2.56% | - | |
| Diversified Industrials | - | - | - | 2.56% | |
| Industrial Support Services | - | - | 1.58% | - | |
| Transaction Processing Services | - | - | - | 1.58% | |
| Industrial Engineering | - | - | 1.19% | - | |
| Machinery: Industrial | - | - | - | 0.63% | |
| Machinery: Agricultural | - | - | - | 0.56% | |
| Industrial Transportation | - | - | 1.12% | - | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 0.75% | |
| Marine Transportation | - | - | - | 0.37% | |
| Electronic & Electrical Equipment | - | - | 0.61% | - | |
| Electrical Components | - | - | - | 0.61% | |
| Construction & Materials | - | 2.75% | - | - | |
| Construction & Materials | - | - | 2.75% | - | |
| Construction | - | - | - | 2.12% | |
| Building Materials: Other | - | - | - | 0.62% | |
| Energy | 7.74% | - | - | - | |
| Energy | - | 7.74% | - | - | |
| Non-Renewable Energy | - | - | 7.74% | - | |
| Integrated Oil & Gas | - | - | - | 2.35% | |
| Oil Refining and Marketing | - | - | - | 2.21% | |
| Pipelines | - | - | - | 1.63% | |
| Oil: Crude Producers | - | - | - | 0.98% | |
| Coal | - | - | - | 0.57% | |
| Technology | 7.17% | - | - | - | |
| Technology | - | 7.17% | - | - | |
| Software & Computer Services | - | - | 4.29% | - | |
| Consumer Digital Services | - | - | - | 2.29% | |
| Computer Services | - | - | - | 1.15% | |
| Software | - | - | - | 0.85% | |
| Technology Hardware & Equipment | - | - | 2.88% | - | |
| Semiconductors | - | - | - | 1.84% | |
| Electronic Components | - | - | - | 1.04% | |
| Consumer Discretionary | 4.09% | - | - | - | |
| Automobiles & Parts | - | 1.34% | - | - | |
| Automobiles & Parts | - | - | 1.34% | - | |
| Automobiles | - | - | - | 1.34% | |
| Retail | - | 1.28% | - | - | |
| Retailers | - | - | 1.28% | - | |
| Diversified Retailers | - | - | - | 1.28% | |
| Media | - | 0.74% | - | - | |
| Media | - | - | 0.74% | - | |
| Entertainment | - | - | - | 0.74% | |
| Consumer Products & Services | - | 0.74% | - | - | |
| Consumer Services | - | - | 0.39% | - | |
| Consumer Services: Misc. | - | - | - | 0.39% | |
| Leisure Goods | - | - | 0.35% | - | |
| Toys | - | - | - | 0.35% | |
| Commodities | 3.70% | - | - | - | |
| Commodities | - | 3.70% | - | - | |
| Commodities | - | - | 3.70% | - | |
| Commodities | - | - | - | 3.70% | |
| Telecommunications | 3.55% | - | - | - | |
| Telecommunications | - | 3.55% | - | - | |
| Telecommunications Equipment | - | - | 1.99% | - | |
| Telecommunications Equipment | - | - | - | 1.99% | |
| Telecommunications Service Providers | - | - | 1.56% | - | |
| Telecommunications Services | - | - | - | 1.56% | |
| Consumer Staples | 2.56% | - | - | - | |
| Food, Beverage & Tobacco | - | 2.56% | - | - | |
| Tobacco | - | - | 2.56% | - | |
| Tobacco | - | - | - | 2.56% | |
| Cash and Equivalents | 2.27% | - | - | - | |
| Basic Materials | 1.10% | - | - | - | |
| Basic Resources | - | 1.10% | - | - | |
| Precious Metals & Mining | - | - | 1.10% | - | |
| Gold Mining | - | - | - | 0.84% | |
| Platinum & Precious Metals | - | - | - | 0.26% | |
| Utilities | 1.09% | - | - | - | |
| Utilities | - | 1.09% | - | - | |
| Electricity | - | - | 1.09% | - | |
| Conventional Electricity | - | - | - | 1.09% | |
| Real Estate | 0.76% | - | - | - | |
| Real Estate | - | 0.76% | - | - | |
| Real Estate Investment & Services | - | - | 0.53% | - | |
| Real Estate Services | - | - | - | 0.53% | |
| Real Estate Investment Trusts | - | - | 0.22% | - | |
| Retail REITs | - | - | - | 0.22% | |
| Health Care | 0.75% | - | - | - | |
| Health Care | - | 0.75% | - | - | |
| Medical Equipment & Services | - | - | 0.75% | - | |
| Medical Equipment | - | - | - | 0.75% | |
| Non-Classified | 0.55% | - | - | - | |
Regional Allocation
| UK | 25.59% | |
| North America | 25.00% | |
| Developed Europe - Excl UK | 21.52% | |
| Emerging Asia | 8.53% | |
| Japan | 4.32% | |
| Commodities | 3.70% | |
| Middle East & Africa | 3.16% | |
| Cash and Equivalents | 2.27% | |
| Emerging Europe | 1.60% | |
| Other Regions | 4.32% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 60.46% | |
| Pound Sterling | 18.00% | |
| US Dollar | 14.47% | |
| Euro | 3.46% | |
| Cash | 2.27% | |
| Rand | 0.77% | |
| Mexican Peso | 0.57% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 25.59% | - | |
United Kingdom
|
- | 25.59% | |
| North America | 25.00% | - | |
United States
|
- | 21.53% | |
Canada
|
- | 3.48% | |
| Developed Europe - Excl UK | 21.52% | - | |
France
|
- | 8.10% | |
Spain
|
- | 3.97% | |
Italy
|
- | 2.63% | |
Germany
|
- | 2.10% | |
Netherlands
|
- | 1.17% | |
Switzerland
|
- | 1.00% | |
Norway
|
- | 0.96% | |
Austria
|
- | 0.70% | |
Ireland
|
- | 0.51% | |
Luxembourg
|
- | 0.39% | |
| Emerging Asia | 8.53% | - | |
China
|
- | 4.70% | |
South Korea
|
- | 2.74% | |
Taiwan
|
- | 0.91% | |
Indonesia
|
- | 0.18% | |
| Japan | 4.32% | - | |
Japan
|
- | 4.32% | |
| Commodities | 3.70% | - | |
| Middle East & Africa | 3.16% | - | |
South Africa
|
- | 3.16% | |
| Cash and Equivalents | 2.27% | - | |
| Emerging Europe | 1.60% | - | |
Poland
|
- | 1.33% | |
Greece
|
- | 0.27% | |
| Australia & New Zealand | 1.54% | - | |
Australia
|
- | 1.54% | |
| Developed Asia | 1.17% | - | |
Singapore
|
- | 0.66% | |
Hong Kong
|
- | 0.51% | |
| South & Central America | 0.84% | - | |
Mexico
|
- | 0.84% | |
| Non-Classified | 0.55% | - | |
| Property | 0.22% | - | |
Breakdown By Market Cap (%)
| Mega |
|
23.45% |
| Large |
|
15.35% |
| Medium |
|
9.22% |
| Small |
|
0.80% |
| Micro |
|
0.75% |
| Non-Classified |
|
10.88% |
| Bonds |
|
37.27% |
| Cash |
|
2.27% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
5.09% |
| 5Yr - 10Yr Maturity |
|
12.64% |
| 10Yr - 15Yr Maturity |
|
0.18% |
| > 15Yr Maturity |
|
19.35% |
| Cash And Equivalents |
|
2.27% |
| Unknown Maturity |
|
3.70% |
| Other Asset Types |
|
56.76% |
Fixed Interest Quality Profile
| AA |
|
0.18% |
| A |
|
2.47% |
| BBB |
|
12.54% |
| Sub-Investment Grade |
|
12.41% |
| Unknown Quality |
|
9.66% |
| Cash and Equivalents |
|
2.27% |
| Other Asset Types |
|
60.46% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | AVIVA | 1.09% | Life Insurance | United Kingdom |
| 2 | WOODSIDE ENERGY GROUP LTD | 0.98% | Non-Renewable Energy | Australia |
| 3 | PHOENIX GROUP HOLDINGS | 0.97% | Life Insurance | United Kingdom |
| 4 | EQUINOR ASA | 0.96% | Non-Renewable Energy | Norway |
| 5 | ROYAL BANK OF SCOTLAND GROUP | 0.95% | Banks | United Kingdom |
| 6 | BROADCOM | 0.93% | Technology Hardware & Equipment | United States |
| 7 | SEA LIMITED | 0.92% | Software & Computer Services | United States |
| 8 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 0.91% | Technology Hardware & Equipment | Taiwan |
| 9 | JPMORGAN CHASE & CO | 0.91% | Banks | United States |
| 10 | BRITISH AMERICAN TOBACCO P.L.C. | 0.90% | Tobacco | United Kingdom |
Important Information
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 | B7T1347 |
| Mex Code | 8TSAEM |
| Isin Code | GB00B7T13474 |
| Citi Code | GOZQ |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
Aims and Benchmark
| Aims | The objective of the fund is to achieve income and capital growth, over the long term, being five years or more. Five years is also the minimum recommended term for holding units in this fund. This does not mean that the fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested. The Investment Manager aims to achieve the objective of the fund by investing in a diversified portfolio of global investments covering different assets, which will include equities (company shares), fixed income (including bonds issued by governments and companies), cash and cash deposits. Exposure to investments in property and commodities will be indirect, for example through property company shares and exchange traded funds. The Investment Manager will assess the broad economic environment, focusing on areas such as economic growth, inflation expectations and the outlook for interest rates, to determine the attractiveness of the asset classes in which the fund can invest. The Investment Manager will maintain exposure to a broad spread of underlying assets, although the combined holdings in equities and fixed income will make up the largest part of the fund. In order to create a diversified portfolio, the Investment Manager will usually maintain a portfolio of at least 100 individual investments. The fund may invest in derivatives and forward transactions (these are contracts whose value is based on the change in price of an underlying investment), for the purposes of efficient portfolio management including hedging (hedging is designed to offset the risk of another investment falling in price). Income generated from investments will be distributed monthly by way of dividend distributions. |
| Benchmark | IA Mixed Investment 20–60% Shares Sector |
| Benchmark Category | Comparator |
| IA Sector | Mixed Investment 20-60% Shares |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Monthly |
| Distribution Type | No income |
| Distribution Payment Basis | Gross |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 31 January |
| 01 February | 28 February |
| 01 March | 31 March |
| 01 April | 29 April |
| 01 May | 31 May |
| 01 June | 30 June |
| 01 July | 31 July |
| 01 August | 31 August |
| 01 September | 30 September |
| 01 October | 28 October |
| 01 November | 30 November |
| 01 December | 31 December |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Northern Trust Investor Services Limited |
| Fund Administrator | Northern Trust Global Services SE |
| Fund Registrar | Northern Trust Global Services SE |
| Fund Custodian | The Northern Trust Company |
Group Details
| Group name | Premier Miton Investors |
| Group address | Eastgate Court High Street Guildford Surrey GU1 3DE |
| Group telephone | 0845 6056363 |
| Dealing telephone | - |
| sales@premierfunds.co.uk | |
| Homepage | www.premiermiton.com |
| Fax number | 01483 300845 |
Dealing
| Minimum Investment | £1000 |
| Minimum Top Up | £1000 |
| Minimum Regular Saving | £50 |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges 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 | - |
| Beta | - |
| Sharpe | - |
| Standard Deviation | - |
| Info Ratio | - |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| 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 | No |
| 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.
High Yield Bonds
The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
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.
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
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. 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 report or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges 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. 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 report or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.