Prudential Aegon Investment Grade Bond Ser A

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

Performance

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Top 10 Holdings

Stock % Weight
ROTHESAY LIFE 3.375% 12/07/2026 REGS 1.92
QBE INSURANCE GROUP LTD VAR 02/12/2044 1.71
DWR CYMRU FINANCING UK 1.625% 31/03/2026 EMTN 1.61
DEUTSCHE BANK AG VAR 22/12/2028 EMTN 1.54
CPUK FINANCE LTD 6.5% 28/08/2026 1.46
PRUDENTIAL PLC VAR 03/11/2033 EMTN 1.43
RAC BOND CO PLC 4.87% 06/05/2026 EMTN 1.32
ORSTED A/S 2.5% 16/05/2033 EMTN 1.32
LEGAL & GENERAL GROUP VAR 26/11/2049 EMTN 1.31
LEGAL & GENERAL GROUP VAR 14/11/2048 1.27
Total 14.90

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Aegon Investment Grade Bond Fund - the underlying fund.

Underlying Fund Objective: The fund aims to maximise total return (income plus capital) by investing primarily in investment grade and government bonds denominated in sterling and other currencies. The fund may hold a maximum of 20% in high yield bonds and also hold cash. A minimum of 80% of the fund will be hedged back to sterling. The fund may also invest in deposits, money market instruments, derivative instruments and forward transactions.

Fund Manager

Euan McNeil manager of the underlying fund for 14 years and 4 months

Photo of Euan McNeil Euan McNeil is an investment manager in the Fixed Income team. He specialises in investment grade credit and co-manages two investment grade bond funds as well as several institutional portfolios. Euan joined us in 2003 from Britannic Asset Management, where he worked in the corporate bond team. Prior to that, he was an international equities manager at Blairlogie Capital Management. Euan studied International Business and French at the University of Strathclyde and has an MSc in Investment Analysis from the University of Stirling.

Fund Overview

Bid (20/08/2021) 175.00
Offer (20/08/2021) 184.20
Fund size (31/07/2021) £0.50m
Underlying Fund size £185.82m
Number of holdings 140
Launch date 25/01/2010

Fund Charges

Annual Management Charge (AMC) 1.70%
Further Costs 0.00%
Yearly Total 1.70%

Asset Allocation

pie chart
  International Bonds 46.47%
  UK Corporate Bonds 40.16%
  Cash and Equivalents 4.01%
  UK Gilts 0.72%
  Alternative Trading Strategies 0.62%
  Other Assets 8.02%
Portfolio data accurate as at: 31/01/24

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 GBP 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 Bonds 46.47%
  UK Corporate Bonds 40.16%
  Cash and Equivalents 4.01%
  UK Gilts 0.72%
  Alternative Trading Strategies 0.62%
  Other Assets 8.02%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 87.35% - - -
 
Non-Classified 8.02% - - -
 
Cash and Equivalents 4.01% - - -
 
Alternative Trading Strategies 0.62% - - -
 
Alternative Trading Strategies - 0.62% - -
 
Alternative Trading Strategies - - 0.62% -
 
Alternative Trading Strategies - - - 0.62%

Regional Allocation

pie chart
  UK 40.88%
  Developed Europe - Excl UK 26.66%
  Non-Classified 19.86%
  North America 5.27%
  Cash and Equivalents 4.01%
  Australia & New Zealand 3.32%

Fixed Interest Currencies

pie chart
  Pound Sterling 68.72%
  US Dollar 10.95%
  Non-Fixed Interest Assets 8.64%
  Euro 7.68%
  Cash 4.01%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 40.88% -
 
United Kingdom - 40.88%
 
Developed Europe - Excl UK 26.66% -
 
France - 8.26%
 
Netherlands - 4.69%
 
Italy - 3.27%
 
Switzerland - 2.53%
 
Germany - 2.39%
 
Luxembourg - 1.95%
 
Denmark - 1.32%
 
Spain - 0.70%
 
Sweden - 0.53%
 
Austria - 0.50%
 
Belgium - 0.50%
 
Non-Classified 19.86% -
 
North America 5.27% -
 
United States - 5.27%
 
Cash and Equivalents 4.01% -
 
Australia & New Zealand 3.32% -
 
Australia - 3.32%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
15.59%
5Yr - 10Yr Maturity
 
 
36.02%
10Yr - 15Yr Maturity
 
 
7.00%
> 15Yr Maturity
 
 
28.74%
Cash And Equivalents
 
 
4.01%
Unknown Maturity
 
 
8.02%
Other Asset Types
 
 
0.62%

Fixed Interest Quality Profile

AAA
 
 
1.10%
AA
 
 
4.26%
A
 
 
18.46%
BBB
 
 
38.02%
Sub-Investment Grade
 
 
5.29%
Unknown Quality
 
 
20.23%
Cash and Equivalents
 
 
4.01%
Other Asset Types
 
 
8.64%

Top 10 Holdings

Stock % Weight Sector Country
1 ROTHESAY LIFE 3.375% 12/07/2026 REGS 1.92% Bonds United Kingdom
2 QBE INSURANCE GROUP LTD VAR 02/12/2044 1.71% Bonds Australia
3 DWR CYMRU FINANCING UK 1.625% 31/03/2026 EMTN 1.61% Bonds Non-Classified
4 DEUTSCHE BANK AG VAR 22/12/2028 EMTN 1.54% Bonds Germany
5 CPUK FINANCE LTD 6.5% 28/08/2026 1.46% Bonds Non-Classified
6 PRUDENTIAL PLC VAR 03/11/2033 EMTN 1.43% Bonds United Kingdom
7 RAC BOND CO PLC 4.87% 06/05/2026 EMTN 1.32% Bonds United Kingdom
8 ORSTED A/S 2.5% 16/05/2033 EMTN 1.32% Bonds Denmark
9 LEGAL & GENERAL GROUP VAR 26/11/2049 EMTN 1.31% Bonds United Kingdom
10 LEGAL & GENERAL GROUP VAR 14/11/2048 1.27% Bonds United Kingdom

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 B5BGJ93
Mex Code PUAIGB
Isin Code GB00B5BGJ933
Citi Code I2X5

Fund Charges

Annual Management Charge (AMC) 1.70%
Further Costs 0.00%
Yearly Total 1.70%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the Aegon Investment Grade Bond Fund - the underlying fund. Underlying Fund Objective: The fund aims to maximise total return (income plus capital) by investing primarily in investment grade and government bonds denominated in sterling and other currencies. The fund may hold a maximum of 20% in high yield bonds and also hold cash. A minimum of 80% of the fund will be hedged back to sterling. The fund may also invest in deposits, money market instruments, derivative instruments and forward transactions.
Benchmark Investment Association Sterling Corporate Bond sector
ABI Sector Sterling Corporate Bond

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 -0.81
Beta 1.04
Sharpe 0.12
Standard Deviation 6.18
Info Ratio -0.63

Risk Factors

Risk Factor Yes / No
Charges to Capital No
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 Yes
Offshore No
Income Eroding Capital Growth No
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

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.

Derivative Exposure

The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.

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 GBP 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.

"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.