PIA PruFund Growth Fund GBP Ser B
Performance
Discrete performance - to last month end
| 31/12/20 to 31/12/21 |
31/12/21 to 31/12/22 |
31/12/22 to 31/12/23 |
31/12/23 to 31/12/24 |
31/12/24 to 31/12/25 |
|
|---|---|---|---|---|---|
| Fund | 17.2% | 6.1% | -1.1% | 7.6% | 7.3% |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/12/25 |
5 Years to 31/12/25 |
10 Years to 31/12/25 |
||
| Fund | 4.5% | 7.3% | 6.2% | |
Commentary
31 December 2025 Financial markets proved resilient despite slowing growth, supported by a pivot to monetary easing and ongoing enthusiasm for AI-related stocks. Global equities extended recent gains. The S&P 500 rose 2.7%, closing 2025 up nearly 18% (in US dollars), while the FTSE 100 gained 6.9% (in sterling), its strongest annual performance since 2009. Emerging markets outperformed, with the MSCI Emerging Markets Index advancing 4.8% (in US dollars) and delivering full-year gains above 30%, buoyed by a weaker dollar and improving sentiment across Asia and Latin America.
Bond markets strengthened as central banks shifted to rate cuts and investors priced in looser policy. UK government bonds led gains, with the 10-year yield edging lower. US Treasuries gained, taking their return for the year to 6.2% (in US dollars). European government bonds also rose, with the exception of German bunds. Corporate bonds also posted positive returns.
Commodities delivered contrasting moves. Precious metals soared, with gold and silver posting their strongest annual gains since 1979 as investors sought safe havens amid falling real yields. Oil prices continued to weaken, marking a third consecutive annual decline. The US dollar logged its worst year since 2017, sliding broadly against major peers, while the euro and sterling strengthened on policy easing and improved risk appetite.
Despite macro headwinds, sentiment ended the year constructive, anchored by expectations of continued policy support and a gradual normalisation of inflation.
Fund Aims
The fund aims to produce growth over the medium to long-term (5 to 10 years or more) while smoothing some of the ups and downs of short-term investment performance. The fund spreads investment risk by investing in a range of different asset types, which currently includes UK and international equities, property, fixed interest securities, index-linked securities and other specialist investments.
Fund Manager
The M&G Life Investment Office (LIO) is our team of in-house investment strategists and ‘manager of managers’ for Pru in the UK. They are independent of the various underlying asset management businesses within M&G plc and carry out various stages of the investment process including setting the strategic asset allocation, manager selection and oversight and portfolio management. The team includes investment professionals with expertise in capital market research, investment strategy design, liability management, derivatives and portfolio management.
Fund Overview
| Bid (28/01/2026) | 3.69 |
| Offer | n/a |
| Fund size | - |
| Launch date | 25/11/2008 |
Fund Charges
| Annual Management Charge (AMC) | 1.20% |
| Further Costs | 0.00% |
| Yearly Total | 1.20% |
Asset Allocation
| UK Equities |
|
11.70% |
| UK Real Estate |
|
8.20% |
| North American Equities |
|
7.30% |
| Asia Fixed Interest |
|
5.40% |
| European Equities |
|
5.30% |
| Asia ex. Japan Equities |
|
5.20% |
| Private Equity |
|
5.20% |
| UK Investment Grade |
|
5.00% |
| US Investment Grade |
|
5.00% |
| Private High Yield |
|
3.50% |
| Tactical Investment Opportunities |
|
3.20% |
| Japanese Equities |
|
3.00% |
| China Equities |
|
3.00% |
| Infrastructure |
|
3.00% |
| Middle East and Africa Equities |
|
2.30% |
| Emerging Market Debt |
|
2.20% |
| Europe Investment Grade |
|
2.10% |
| Cash & Equivalents |
|
2.10% |
| Global Emerging Markets Equities |
|
1.90% |
| Europe ex UK Real Estate |
|
1.70% |
| Asia Real Estate |
|
1.70% |
| UK High Yield |
|
1.60% |
| India Equities |
|
1.50% |
| US Treasury |
|
1.50% |
| North America Real Estate |
|
1.40% |
| Commodities |
|
1.20% |
| Africa Fixed Interest |
|
1.10% |
| Convertibles |
|
0.90% |
| Other Factors |
|
0.90% |
| Lower Risk Private Credit |
|
0.80% |
| Europe High Yield |
|
0.70% |
| US High Yield |
|
0.40% |
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.
We can't predict the future. Past Performance isn't a guide to future performance. For the range of PruFund funds, what you receive will depend on the value of the underlying investments, the smoothing process, our charges, and when you take your money out.
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. For PruFund, as further costs are factored into the setting of Expected Growth Rates, they are not shown separately here. 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.
Asset Allocation
| UK Equities |
|
11.70% |
| UK Real Estate |
|
8.20% |
| North American Equities |
|
7.30% |
| Asia Fixed Interest |
|
5.40% |
| European Equities |
|
5.30% |
| Asia ex. Japan Equities |
|
5.20% |
| Private Equity |
|
5.20% |
| UK Investment Grade |
|
5.00% |
| US Investment Grade |
|
5.00% |
| Private High Yield |
|
3.50% |
| Tactical Investment Opportunities |
|
3.20% |
| Japanese Equities |
|
3.00% |
| China Equities |
|
3.00% |
| Infrastructure |
|
3.00% |
| Middle East and Africa Equities |
|
2.30% |
| Emerging Market Debt |
|
2.20% |
| Europe Investment Grade |
|
2.10% |
| Cash & Equivalents |
|
2.10% |
| Global Emerging Markets Equities |
|
1.90% |
| Europe ex UK Real Estate |
|
1.70% |
| Asia Real Estate |
|
1.70% |
| UK High Yield |
|
1.60% |
| India Equities |
|
1.50% |
| US Treasury |
|
1.50% |
| North America Real Estate |
|
1.40% |
| Commodities |
|
1.20% |
| Africa Fixed Interest |
|
1.10% |
| Convertibles |
|
0.90% |
| Other Factors |
|
0.90% |
| Lower Risk Private Credit |
|
0.80% |
| Europe High Yield |
|
0.70% |
| US High Yield |
|
0.40% |
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.
We can't predict the future. Past Performance isn't a guide to future performance. For the range of PruFund funds, what you receive will depend on the value of the underlying investments, the smoothing process, our charges, and when you take your money out.
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 | B3BWBF7 |
| Mex Code | SBPRGT |
| Isin Code | IE00B3BWBF71 |
| Citi Code | DBS5 |
Fund Charges
| Annual Management Charge (AMC) | 1.20% |
| Further Costs | 0.00% |
| Yearly Total | 1.20% |
Aims and Benchmark
| Aims | The fund aims to produce growth over the medium to long-term (5 to 10 years or more) while smoothing some of the ups and downs of short-term investment performance. The fund spreads investment risk by investing in a range of different asset types, which currently includes UK and international equities, property, fixed interest securities, index-linked securities and other specialist investments. |
| Benchmark | Not benchmarked |
| ABI Sector | Unclassified |
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.
We can't predict the future. Past Performance isn't a guide to future performance. For the range of PruFund funds, what you receive will depend on the value of the underlying investments, the smoothing process, our charges, and when you take your money out.
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 | -2.89 |
| Beta | 1.34 |
| Sharpe | 0.38 |
| Standard Deviation | 2.69 |
| Info Ratio | -0.45 |
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.
We can't predict the future. Past Performance isn't a guide to future performance. For the range of PruFund funds, what you receive will depend on the value of the underlying investments, the smoothing process, our charges, and when you take your money out.
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.
We can't predict the future. Past Performance isn't a guide to future performance. For the range of PruFund funds, what you receive will depend on the value of the underlying investments, the smoothing process, our charges, and when you take your money out.
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. For PruFund, as further costs are factored into the setting of Expected Growth Rates, they are not shown separately here. 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 Fitzwilliam Court, Leeson Cl, Dublin 2, D02 TC95. 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 authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. 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.