PIA PruFund Cautious Fund EUR 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

30/04/19
to
30/04/20
30/04/20
to
30/04/21
30/04/21
to
30/04/22
30/04/22
to
30/04/23
30/04/23
to
30/04/24
Fund -4.7% 17.2% 6.8% -6.8% 6.1%

Annualised performance

Annualised
3 Years to
30/04/24
5 Years to
30/04/24
10 Years to
30/04/24
Fund 1.8% 3.3% 4.2%

Commentary

31 March 2024

Buoyed by subsiding inflationary pressures, robust economic data and the prospect of oncoming rate cuts, the first quarter concluded with solid gains for global equity markets. It was a different story for bonds, however. The rally in bond markets at the end of last year faded as investors pushed back their timing of potential interest rate cuts by central banks. Bond yields rose in January and February before recovering somewhat in March when the Federal Reserve (Fed) confirmed that it expected to cut rates three times this year. The 10-year US Treasury yield ended the period at 4.2%, up from 3.9%. UK gilt yields were up slightly, along with those of euro sovereigns and Japanese government bonds.

Equity markets started the year with an impressive rally. The US stockmarket registered its best first quarter in five years, driven partly by the continued appetite for artificial intelligence. Weakness of the yen helped fuel another surge in Japanese equities. European equities also posted solid gains. UK equities made a positive start to the year, although they trailed other regions. At the sector level, technology stocks were the clear outperformer, closely followed by communication services, energy and financials. Gold rose by 7.2% (in US dollars). The dollar strengthened against major currencies including sterling and the euro. Brent crude oil was up 12.5% (in US dollars) as ongoing production cuts and geopolitical tensions continue to impact markets.

The M&G Treasury & Investment Office (T&IO) outlook is cautious as much uncertainty remains.

Fund Aims

The fund aims for steady and consistent growth over the medium to long term (5 to 10 years or more) through a cautious approach to investing. The fund invests in European and international equities, property, fixed interest securities, index-linked securities, cash and other specialist investments. The fund will aim to invest 50-75% in fixed interest securities, index-linked securities and cash, although we may occasionally move outside this range to meet the fund objectives.

Fund Manager

M&G Treasury & Investment Office (Charles Griffith) manager of the underlying fund for 14 years and 7 months

Photo of M&G Treasury & Investment Office (Charles Griffith) The M&G Treasury & Investment Office (T&IO) has a broad and well-resourced investment capability, with access to investment professionals around the world. T&IO set the strategic asset allocation and undertakes the ‘manager of managers’ role for our insured funds. The lead fund manager for this fund is Charles Griffith, ACII CFA, Head of Multi Asset Portfolio Management. Charles joined the company in April 2018, having spent 24 years in financial services companies including Blackrock, Barclays Global Investors and Fitch Ratings. Charles is a member of the Investment Office Executive Committee and the M&G Group Pension Committee. Charles is currently an independent member of the Investment Committee of the Alzheimer’s Society, as well as sitting on the Governors Investment Committee at Sherborne School. Charles attended the University of Newcastle-Upon-Type earning a class 2.1 BA Honours degree in Business Management. He is an Associate of the Chartered Insurance Institute and a CFA® charterholder.

Fund Overview

Bid (24/05/2024) 2.02
Offer n/a
Fund size -
Launch date 25/11/2009

Fund Charges

Annual Management Charge (AMC) 1.20%
Further Costs 0.19%
Yearly Total 1.39%
Portfolio data accurate as at: 31/03/24

Asset Allocation

US Investment Grade
 
 
12.70%
Asia Fixed Interest
 
 
11.50%
Europe Investment Grade
 
 
11.20%
UK Investment Grade
 
 
7.50%
European Equities
 
 
6.50%
Europe ex UK property
 
 
4.80%
Emerging Market Debt
 
 
4.40%
Private Equity
 
 
4.00%
US Treasury
 
 
3.50%
North American Equities
 
 
3.50%
Asia ex. Japan Equities
 
 
3.40%
Infrastructure
 
 
2.90%
UK Equities
 
 
2.90%
Tactical Investment Opportunities
 
 
2.40%
Europe High Yield
 
 
2.10%
Cash & Equivalents
 
 
2.00%
Africa Fixed Interest
 
 
1.90%
Japanese Equities
 
 
1.90%
Asia Property
 
 
1.50%
Private High Yield
 
 
1.20%
US High Yield
 
 
1.20%
Global Emerging Markets Equities
 
 
1.10%
Hedge Fund
 
 
1.00%
Global High Yield
 
 
1.00%
Middle East and Africa Equities
 
 
1.00%
China Equities
 
 
0.80%
UK Property
 
 
0.70%
North America Property
 
 
0.60%
Lower Risk Private Credit
 
 
0.50%
India Equities
 
 
0.30%

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. 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

US Investment Grade
 
 
12.70%
Asia Fixed Interest
 
 
11.50%
Europe Investment Grade
 
 
11.20%
UK Investment Grade
 
 
7.50%
European Equities
 
 
6.50%
Europe ex UK property
 
 
4.80%
Emerging Market Debt
 
 
4.40%
Private Equity
 
 
4.00%
US Treasury
 
 
3.50%
North American Equities
 
 
3.50%
Asia ex. Japan Equities
 
 
3.40%
Infrastructure
 
 
2.90%
UK Equities
 
 
2.90%
Tactical Investment Opportunities
 
 
2.40%
Europe High Yield
 
 
2.10%
Cash & Equivalents
 
 
2.00%
Africa Fixed Interest
 
 
1.90%
Japanese Equities
 
 
1.90%
Asia Property
 
 
1.50%
Private High Yield
 
 
1.20%
US High Yield
 
 
1.20%
Global Emerging Markets Equities
 
 
1.10%
Hedge Fund
 
 
1.00%
Global High Yield
 
 
1.00%
Middle East and Africa Equities
 
 
1.00%
China Equities
 
 
0.80%
UK Property
 
 
0.70%
North America Property
 
 
0.60%
Lower Risk Private Credit
 
 
0.50%
India Equities
 
 
0.30%

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 B41QPF4
Mex Code SBRUEN
Isin Code IE00B41QPF48
Citi Code GSK1

Fund Charges

Annual Management Charge (AMC) 1.20%
Further Costs 0.19%
Yearly Total 1.39%

Aims and Benchmark

Aims The fund aims for steady and consistent growth over the medium to long term (5 to 10 years or more) through a cautious approach to investing. The fund invests in European and international equities, property, fixed interest securities, index-linked securities, cash and other specialist investments. The fund will aim to invest 50-75% in fixed interest securities, index-linked securities and cash, although we may occasionally move outside this range to meet the fund objectives.
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 -3.45
Beta 1.46
Sharpe 0.00
Standard Deviation 6.05
Info Ratio -0.36

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. 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.