Prudential Discretionary S1
Performance
Discrete performance - to latest available quarter end
| 30/06/19 to 30/06/20 |
30/06/20 to 30/06/21 |
30/06/21 to 30/06/22 |
30/06/22 to 30/06/23 |
30/06/23 to 30/06/24 |
|
|---|---|---|---|---|---|
| Fund | -4.3% | 19.7% | -7.2% | 2.8% | 11.8% |
| Benchmark | 0.1% | 15.2% | -3.4% | 5.1% | 11.5% |
Performance - to latest available quarter end
| Quarter | Annualised | |||
|---|---|---|---|---|
| 2 2024 |
3 Years to 30/06/24 |
5 Years to 30/06/24 |
10 Years to 30/06/24 |
|
| Fund | 1.5% | 2.1% | 4.1% | 6.1% |
| Benchmark | 1.4% | 4.2% | 5.5% | 6.9% |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| iShares iShares plc European Property Yield UCITS ETF EUR (Dist) | 1.54 |
| ASTRAZENECA | 1.36 |
| HSBC HOLDINGS | 1.23 |
| CME S&P EMI FUT Jun24 | 1.22 |
| Segro Segro Ord GBP0.1 | 1.05 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 0.94 |
| UNILEVER | 0.81 |
| SAMSUNG ELECTRONICS CO. LTD | 0.77 |
| BP | 0.74 |
| SHELL | 0.71 |
| Total | 10.38 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the M&G PP Discretionary Fund - the underlying fund.
Underlying Fund Objective: The fund provides a multi-asset approach to investment, holding a mix of UK and overseas company shares, bonds, property, cash plus listed alternative assets primarily through other M&G funds or direct holdings. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management.
Performance Objective: To outperform the internal composite benchmark by 1.15%-1.40% a year (before charges) on a rolling three year basis.
Fund Manager
With access to investment professionals around the world, the M&G Treasury & Investment Office (T&IO) has a broad and well-resourced investment capability. T&IO set the strategic asset allocation and undertakes the ‘manager of managers’ role for our insured funds. Over the years they have built a thorough and effective governance framework, which includes the setting and monitoring of investment mandates, regular performance and activity health checks and independent analysis of investment, credit and liquidity risks.
Fund Overview
| Bid (24/07/2024) | 9.61 |
| Offer (24/07/2024) | 10.12 |
| Fund size (30/06/2024) | £407.85m |
| Underlying Fund size | £529.04m |
| Number of holdings | 7312 |
| Launch date | 02/07/1991 |
Fund Charges
| Annual Management Charge (AMC) | 0.75% |
| Further Costs | 0.04% |
| Yearly Total | 0.79% |
Asset Allocation
| International Equities | 33.36% | |
| UK Equities | 19.04% | |
| International Bonds | 13.01% | |
| Cash and Equivalents | 12.88% | |
| Property | 5.80% | |
| UK Corporate Bonds | 3.18% | |
| Investment Trusts | 1.69% | |
| UK Gilts | 1.10% | |
| Money Market | 0.11% | |
| Other Assets | 9.83% |
Commentary
Performance as at Q1 2024 - Supported by easing inflationary pressures, robust economic data and, initially, the possibility of interest rate cuts in the near term, the first quarter of 2024 ended with solid gains for global equity markets. However, bonds fared less well, with the rally in bond markets at the end of 2023 fading in the first quarter as investors pushed back their timing of potential interest rate cuts by central banks. The fund gained in the quarter and was modestly ahead of the benchmark and behind the comparator. Japan and the US were among the strongest performers, while Europe also produced robust gains, all in sterling terms. So too did the UK, Pacific and emerging markets, although to a lesser extent. In the Japanese market, technology shares gained strongly due to a positive earnings season. In other domestic news, the Bank of Japan raised interest rates, ending its negative interest rate policy and the first increase since 2007. Investors in the US stockmarket were encouraged by optimism about the domestic economy as well as the prospect of interest rate cuts. Continued excitement about artificial intelligence (AI) also drove the market gains. Europe was bolstered by decent corporate earnings, the continued gradual decline in inflation and the prospect of rate cuts. Meanwhile, the UK was held back by the lacklustre outlook for the domestic economy. The poor performance of China weighed on Pacific and emerging markets, while the latter were also held back by some Latin American markets. Stockpicking in China, Japan, Europe and emerging and Pacific markets was beneficial, while selection in the US was broadly neutral. Stockpicks in the UK held back relative performance. In terms of fixed income, bond yields rose in January and February before recovering somewhat in March, when the US Federal Reserve confirmed that it expected to cut interest rates three times in 2024. (Bond yields and prices move in opposite directions.) UK government bonds declined in the first quarter of 2024, underperforming US and German government bonds. Global corporate bonds were broadly flat over the quarter although high yield corporates fared better. Meanwhile, the fund’s allocation to property detracted. As inflation continues to ease, alongside the strong fundamentals of the US economy, we believe the scene is set for the beginning of monetary policy loosening. In this environment, it was felt that to retain a moderate above-benchmark, diversified position in equities. In a tactical move, European credit was increased from cash in January and again in February, while retaining a below-index allocation to fixed income. It was felt that although yields had moved upwards in the first two months of the year, expected rate cuts could lead to a fall in yields in the middle of the year. Following positive performance, and given the risks of potentially stubborn inflation in the US and the potential for rate cuts in Europe, in tactical moves in March the equity position (equally across all regions), and further increased European credit. With growing evidence of softening prices, central banks may be in a position to ease monetary policy in the second half of 2024 but employment, activity and inflation data over the next few months will be critical to the evolution of their thinking. The US economy continues to look strong, with the prospect of a ‘soft landing’ appearing more likely. However, other regions, including the eurozone, face more challenging conditions, which could lead to diverging rate cutting cycles and opportunities in relative value trades.
Source: M&G
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 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 intended for the advisers of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. You should refer to your client's scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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 infomation or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 33.36% | |
| UK Equities | 19.04% | |
| International Bonds | 13.01% | |
| Cash and Equivalents | 12.88% | |
| Property | 5.80% | |
| UK Corporate Bonds | 3.18% | |
| Investment Trusts | 1.69% | |
| UK Gilts | 1.10% | |
| Money Market | 0.11% | |
| Other Assets | 9.83% |
Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 17.29% | - | - | - | |
| Non-Classified | 13.36% | - | - | - | |
| Non-Classified | - | 9.93% | - | - | |
| Non-Classified | - | - | 9.93% | - | |
| Non-Classified | - | - | - | 9.93% | |
| Cash and Equivalents | 12.99% | - | - | - | |
| Financials | 12.50% | - | - | - | |
| Banks | - | 5.71% | - | - | |
| Banks | - | - | 5.71% | - | |
| Banks | - | - | - | 5.71% | |
| Financial Services | - | 4.64% | - | - | |
| Investment Banking & Brokerage Services | - | - | 2.19% | - | |
| Asset Managers & Custodians | - | - | - | 1.27% | |
| Investment Services | - | - | - | 0.65% | |
| Diversified Financial Services | - | - | - | 0.28% | |
| Equity Investment Instruments | - | - | 1.69% | - | |
| Equity Investment Instruments | - | - | - | 1.69% | |
| Finance & Credit Services | - | - | 0.76% | - | |
| Financial Data & Systems | - | - | - | 0.58% | |
| Consumer Lending | - | - | - | 0.09% | |
| Mortgage Finance | - | - | - | 0.08% | |
| Nonequity Investment Instruments | - | - | 0.00% | - | |
| Nonequity Investment Instruments | - | - | - | 0.00% | |
| Insurance | - | 2.15% | - | - | |
| Life Insurance | - | - | 1.19% | - | |
| Life Insurance | - | - | - | 1.19% | |
| Non-life Insurance | - | - | 0.96% | - | |
| Property & Casualty Insurance | - | - | - | 0.59% | |
| Full Line Insurance | - | - | - | 0.21% | |
| Insurance Brokers | - | - | - | 0.09% | |
| Reinsurance | - | - | - | 0.07% | |
| Industrials | 7.81% | - | - | - | |
| Industrial Goods & Services | - | 7.11% | - | - | |
| Industrial Transportation | - | - | 1.93% | - | |
| Railroads | - | - | - | 0.92% | |
| Transportation Services | - | - | - | 0.39% | |
| Marine Transportation | - | - | - | 0.34% | |
| Delivery Services | - | - | - | 0.15% | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 0.07% | |
| Commercial Vehicles & Parts | - | - | - | 0.05% | |
| Trucking | - | - | - | 0.01% | |
| Railroad Equipment | - | - | - | 0.00% | |
| Industrial Support Services | - | - | 1.62% | - | |
| Professional Business Support Services | - | - | - | 0.76% | |
| Transaction Processing Services | - | - | - | 0.32% | |
| Business Training & Employment Agencies | - | - | - | 0.27% | |
| Industrial Suppliers | - | - | - | 0.24% | |
| Security Services | - | - | - | 0.02% | |
| Forms & Bulk Printing Services | - | - | - | 0.01% | |
| General Industrials | - | - | 1.16% | - | |
| Diversified Industrials | - | - | - | 0.72% | |
| Containers & Packaging | - | - | - | 0.39% | |
| Glass | - | - | - | 0.03% | |
| Paints & Coatings | - | - | - | 0.02% | |
| Plastics | - | - | - | 0.00% | |
| Industrial Engineering | - | - | 0.99% | - | |
| Machinery: Industrial | - | - | - | 0.30% | |
| Machinery: Construction & Handling | - | - | - | 0.27% | |
| Machinery: Engines | - | - | - | 0.20% | |
| Machinery: Tools | - | - | - | 0.14% | |
| Machinery: Specialty | - | - | - | 0.07% | |
| Machinery: Agricultural | - | - | - | 0.01% | |
| Electronic & Electrical Equipment | - | - | 0.80% | - | |
| Electrical Components | - | - | - | 0.50% | |
| Electronic Equipment: Control & Filter | - | - | - | 0.11% | |
| Electronic Equipment: Gauges & Meters | - | - | - | 0.10% | |
| Electronic Equipment: Pollution Control | - | - | - | 0.08% | |
| Electronic Equipment: Other | - | - | - | 0.01% | |
| Aerospace & Defence | - | - | 0.61% | - | |
| Aerospace | - | - | - | 0.32% | |
| Defense | - | - | - | 0.29% | |
| Construction & Materials | - | 0.70% | - | - | |
| Construction & Materials | - | - | 0.70% | - | |
| Construction | - | - | - | 0.21% | |
| Building: Climate Control | - | - | - | 0.12% | |
| Building Materials: Other | - | - | - | 0.11% | |
| Cement | - | - | - | 0.09% | |
| Building, Roofing/Wallboard & Plumbing | - | - | - | 0.09% | |
| Engineering & Contracting Services | - | - | - | 0.08% | |
| Technology | 6.24% | - | - | - | |
| Technology | - | 6.24% | - | - | |
| Technology Hardware & Equipment | - | - | 3.51% | - | |
| Semiconductors | - | - | - | 2.27% | |
| Computer Hardware | - | - | - | 0.55% | |
| Production Technology Equipment | - | - | - | 0.36% | |
| Electronic Components | - | - | - | 0.31% | |
| Electronic Office Equipment | - | - | - | 0.03% | |
| Software & Computer Services | - | - | 2.73% | - | |
| Consumer Digital Services | - | - | - | 1.28% | |
| Software | - | - | - | 0.97% | |
| Computer Services | - | - | - | 0.48% | |
| Real Estate | 6.15% | - | - | - | |
| Real Estate | - | 6.15% | - | - | |
| Real Estate Investment Trusts | - | - | 5.36% | - | |
| Diversified REITs | - | - | - | 1.52% | |
| Industrial REITs | - | - | - | 1.21% | |
| Residential REITs | - | - | - | 0.51% | |
| Office REITs | - | - | - | 0.50% | |
| Storage REITs | - | - | - | 0.35% | |
| Retail REITs | - | - | - | 0.34% | |
| Health Care REITs | - | - | - | 0.32% | |
| Other Specialty REITs | - | - | - | 0.27% | |
| Infrastructure REITs | - | - | - | 0.25% | |
| Timber REITs | - | - | - | 0.08% | |
| Hotel & Lodging REITs | - | - | - | 0.01% | |
| Real Estate Investment & Services | - | - | 0.79% | - | |
| Real Estate Holding and Development | - | - | - | 0.63% | |
| Real Estate Services | - | - | - | 0.16% | |
| Consumer Discretionary | 6.04% | - | - | - | |
| Consumer Products & Services | - | 1.46% | - | - | |
| Leisure Goods | - | - | 0.46% | - | |
| Consumer Electronics | - | - | - | 0.19% | |
| Toys | - | - | - | 0.09% | |
| Electronic Entertainment | - | - | - | 0.09% | |
| Photography | - | - | - | 0.04% | |
| Recreational Vehicles & Boats | - | - | - | 0.04% | |
| Recreational Products | - | - | - | 0.02% | |
| Personal Goods | - | - | 0.36% | - | |
| Clothing & Accessories | - | - | - | 0.22% | |
| Cosmetics | - | - | - | 0.07% | |
| Footwear | - | - | - | 0.05% | |
| Luxury Items | - | - | - | 0.03% | |
| Household Goods & Home Construction | - | - | 0.32% | - | |
| Home Construction | - | - | - | 0.23% | |
| Household Appliance | - | - | - | 0.08% | |
| Household Furnishings | - | - | - | 0.01% | |
| Household Equipment & Products | - | - | - | 0.00% | |
| Consumer Services | - | - | 0.31% | - | |
| Vending & Catering Service | - | - | - | 0.24% | |
| Consumer Services: Misc. | - | - | - | 0.07% | |
| Rental & Leasing Services: Consumer | - | - | - | 0.00% | |
| Education Services | - | - | - | 0.00% | |
| Retail | - | 1.41% | - | - | |
| Retailers | - | - | 1.41% | - | |
| Diversified Retailers | - | - | - | 0.88% | |
| Apparel Retailers | - | - | - | 0.21% | |
| Specialty Retailers | - | - | - | 0.16% | |
| Home Improvement Retailers | - | - | - | 0.15% | |
| Automobiles & Parts | - | 1.28% | - | - | |
| Automobiles & Parts | - | - | 1.28% | - | |
| Automobiles | - | - | - | 0.98% | |
| Auto Parts | - | - | - | 0.30% | |
| Tires | - | - | - | 0.00% | |
| Media | - | 0.99% | - | - | |
| Media | - | - | 0.99% | - | |
| Publishing | - | - | - | 0.47% | |
| Media Agencies | - | - | - | 0.32% | |
| Radio & TV Broadcasters | - | - | - | 0.13% | |
| Entertainment | - | - | - | 0.06% | |
| Travel & Leisure | - | 0.91% | - | - | |
| Travel & Leisure | - | - | 0.91% | - | |
| Casinos & Gambling | - | - | - | 0.22% | |
| Hotels & Motels | - | - | - | 0.21% | |
| Restaurants & Bars | - | - | - | 0.21% | |
| Recreational Services | - | - | - | 0.12% | |
| Travel & Tourism | - | - | - | 0.10% | |
| Airlines | - | - | - | 0.04% | |
| Health Care | 4.13% | - | - | - | |
| Health Care | - | 4.13% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 3.40% | - | |
| Pharmaceuticals | - | - | - | 3.19% | |
| Biotechnology | - | - | - | 0.22% | |
| Medical Equipment & Services | - | - | 0.52% | - | |
| Medical Equipment | - | - | - | 0.44% | |
| Medical Supplies | - | - | - | 0.08% | |
| Medical Services | - | - | - | 0.01% | |
| Health Care Providers | - | - | 0.20% | - | |
| Health Care Management Services | - | - | - | 0.18% | |
| Health Care Facilities | - | - | - | 0.02% | |
| Health Care Services | - | - | - | 0.00% | |
| Consumer Staples | 3.59% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 1.87% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 1.87% | - | |
| Personal Products | - | - | - | 0.93% | |
| Food Retailers & Wholesalers | - | - | - | 0.52% | |
| Nondurable Household Products | - | - | - | 0.34% | |
| Drug Retailers | - | - | - | 0.09% | |
| Food, Beverage & Tobacco | - | 1.72% | - | - | |
| Beverages | - | - | 1.02% | - | |
| Distillers & Vintners | - | - | - | 0.55% | |
| Soft Drinks | - | - | - | 0.37% | |
| Brewers | - | - | - | 0.11% | |
| Food Producers | - | - | 0.63% | - | |
| Food Products | - | - | - | 0.60% | |
| Farming, Fishing, Ranching & Plantations | - | - | - | 0.02% | |
| Fruit & Grain Processing | - | - | - | 0.01% | |
| Tobacco | - | - | 0.06% | - | |
| Tobacco | - | - | - | 0.06% | |
| Utilities | 3.44% | - | - | - | |
| Utilities | - | 3.44% | - | - | |
| Electricity | - | - | 2.09% | - | |
| Conventional Electricity | - | - | - | 2.04% | |
| Alternative Electricity | - | - | - | 0.05% | |
| Gas, Water & Multi-utilities | - | - | 1.34% | - | |
| Multi-Utilities | - | - | - | 0.89% | |
| Water | - | - | - | 0.27% | |
| Gas Distribution | - | - | - | 0.17% | |
| Waste & Disposal Services | - | - | 0.02% | - | |
| Waste & Disposal Services | - | - | - | 0.02% | |
| Energy | 3.35% | - | - | - | |
| Energy | - | 3.35% | - | - | |
| Non-Renewable Energy | - | - | 3.29% | - | |
| Integrated Oil & Gas | - | - | - | 1.96% | |
| Pipelines | - | - | - | 0.64% | |
| Oil: Crude Producers | - | - | - | 0.41% | |
| Oil Refining and Marketing | - | - | - | 0.17% | |
| Oil Equipment & Services | - | - | - | 0.10% | |
| Offshore Drilling & Other Services | - | - | - | 0.00% | |
| Coal | - | - | - | 0.00% | |
| Renewable Energy | - | - | 0.07% | - | |
| Alternative Fuels | - | - | - | 0.06% | |
| Renewable Energy Equipment | - | - | - | 0.01% | |
| Telecommunications | 2.46% | - | - | - | |
| Telecommunications | - | 2.46% | - | - | |
| Telecommunications Service Providers | - | - | 1.36% | - | |
| Telecommunications Services | - | - | - | 1.34% | |
| Cable Television Services | - | - | - | 0.01% | |
| Telecommunications Equipment | - | - | 1.11% | - | |
| Telecommunications Equipment | - | - | - | 1.11% | |
| Basic Materials | 2.15% | - | - | - | |
| Basic Resources | - | 1.47% | - | - | |
| Industrial Metals & Mining | - | - | 1.30% | - | |
| General Mining | - | - | - | 0.93% | |
| Iron & Steel | - | - | - | 0.15% | |
| Copper | - | - | - | 0.12% | |
| Aluminum | - | - | - | 0.04% | |
| Metal Fabricating | - | - | - | 0.03% | |
| Nonferrous Metals | - | - | - | 0.03% | |
| Precious Metals & Mining | - | - | 0.12% | - | |
| Gold Mining | - | - | - | 0.11% | |
| Platinum & Precious Metals | - | - | - | 0.01% | |
| Diamonds & Gemstones | - | - | - | 0.00% | |
| Industrial Materials | - | - | 0.04% | - | |
| Diversified Materials | - | - | - | 0.03% | |
| Paper | - | - | - | 0.02% | |
| Textile Products | - | - | - | 0.00% | |
| Chemicals | - | 0.68% | - | - | |
| Chemicals | - | - | 0.68% | - | |
| Chemicals: Diversified | - | - | - | 0.42% | |
| Specialty Chemicals | - | - | - | 0.20% | |
| Fertilizers | - | - | - | 0.03% | |
| Chemicals & Synthetic Fibers | - | - | - | 0.03% | |
| Alternative Trading Strategies | -1.50% | - | - | - | |
| Alternative Trading Strategies | - | -1.50% | - | - | |
| Alternative Trading Strategies | - | - | -1.50% | - | |
| Alternative Trading Strategies | - | - | - | -1.50% | |
Regional Allocation
| UK | 23.39% | |
| North America | 19.65% | |
| Cash and Equivalents | 12.99% | |
| Non-Classified | 12.38% | |
| Emerging Asia | 8.14% | |
| Developed Europe - Excl UK | 7.57% | |
| Property | 5.82% | |
| Japan | 4.46% | |
| Developed Asia | 2.70% | |
| Other Regions | 2.91% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 70.03% | |
| Cash | 12.67% | |
| US Dollar | 8.06% | |
| Pound Sterling | 5.89% | |
| Euro | 2.77% | |
| Unrecognised | 0.05% | |
| Other Currencies | 0.50% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 23.39% | - | |
United Kingdom
|
- | 23.34% | |
Jersey
|
- | 0.05% | |
Isle of Man
|
- | 0.04% | |
| North America | 19.65% | - | |
United States
|
- | 17.84% | |
Canada
|
- | 1.80% | |
| Cash and Equivalents | 12.99% | - | |
| Non-Classified | 12.38% | - | |
| Emerging Asia | 8.14% | - | |
South Korea
|
- | 2.13% | |
China
|
- | 1.87% | |
Taiwan
|
- | 1.45% | |
India
|
- | 1.30% | |
Indonesia
|
- | 0.56% | |
Thailand
|
- | 0.40% | |
Philippines
|
- | 0.17% | |
Malaysia
|
- | 0.15% | |
Uzbekistan
|
- | 0.02% | |
Viet Nam
|
- | 0.02% | |
Azerbaijan
|
- | 0.01% | |
Kazakhstan
|
- | 0.01% | |
Tajikistan
|
- | 0.01% | |
Georgia
|
- | 0.01% | |
Mongolia
|
- | 0.01% | |
Armenia
|
- | 0.00% | |
Sri Lanka
|
- | 0.00% | |
Papua New Guinea
|
- | 0.00% | |
Macau
|
- | 0.00% | |
Pakistan
|
- | 0.00% | |
| Developed Europe - Excl UK | 7.57% | - | |
France
|
- | 1.57% | |
Germany
|
- | 1.12% | |
Netherlands
|
- | 0.91% | |
Switzerland
|
- | 0.76% | |
Ireland
|
- | 0.67% | |
Luxembourg
|
- | 0.49% | |
Spain
|
- | 0.44% | |
Sweden
|
- | 0.42% | |
Italy
|
- | 0.32% | |
Denmark
|
- | 0.28% | |
Belgium
|
- | 0.21% | |
Norway
|
- | 0.10% | |
Finland
|
- | 0.09% | |
Portugal
|
- | 0.07% | |
Austria
|
- | 0.07% | |
Iceland
|
- | 0.04% | |
| Property | 5.82% | - | |
| Japan | 4.46% | - | |
Japan
|
- | 4.46% | |
| Developed Asia | 2.70% | - | |
Hong Kong
|
- | 1.81% | |
Singapore
|
- | 0.89% | |
| Australia & New Zealand | 1.04% | - | |
Australia
|
- | 1.00% | |
New Caledonia
|
- | 0.02% | |
New Zealand
|
- | 0.01% | |
| South & Central America | 0.96% | - | |
Mexico
|
- | 0.36% | |
Brazil
|
- | 0.30% | |
Colombia
|
- | 0.07% | |
Peru
|
- | 0.03% | |
Dominican Republic
|
- | 0.03% | |
Uruguay
|
- | 0.03% | |
Argentina
|
- | 0.02% | |
Chile
|
- | 0.02% | |
Paraguay
|
- | 0.01% | |
Jamaica
|
- | 0.01% | |
Venezuela
|
- | 0.01% | |
Guatemala
|
- | 0.01% | |
Barbados
|
- | 0.01% | |
Ecuador
|
- | 0.01% | |
Suriname
|
- | 0.01% | |
El Salvador
|
- | 0.01% | |
Trinidad and Tobago
|
- | 0.01% | |
Honduras
|
- | 0.00% | |
Costa Rica
|
- | 0.00% | |
Cayman Islands
|
- | 0.00% | |
Bolivia
|
- | 0.00% | |
| Middle East & Africa | 0.47% | - | |
South Africa
|
- | 0.16% | |
United Arab Emirates
|
- | 0.09% | |
Israel
|
- | 0.05% | |
Egypt
|
- | 0.02% | |
Morocco
|
- | 0.01% | |
Qatar
|
- | 0.01% | |
Cote D'Ivoire
|
- | 0.01% | |
Oman
|
- | 0.01% | |
Benin
|
- | 0.01% | |
Nigeria
|
- | 0.01% | |
Kenya
|
- | 0.01% | |
Gabon
|
- | 0.01% | |
Senegal
|
- | 0.01% | |
Cameroon
|
- | 0.01% | |
Angola
|
- | 0.01% | |
Jordan
|
- | 0.01% | |
Saudi Arabia
|
- | 0.01% | |
Mozambique
|
- | 0.01% | |
Rwanda
|
- | 0.01% | |
Zambia
|
- | 0.01% | |
Ghana
|
- | 0.00% | |
Kuwait
|
- | 0.00% | |
Iraq
|
- | 0.00% | |
| Emerging Europe | 0.44% | - | |
Greece
|
- | 0.13% | |
Turkey
|
- | 0.09% | |
Poland
|
- | 0.07% | |
Hungary
|
- | 0.06% | |
Romania
|
- | 0.04% | |
Czech Republic
|
- | 0.02% | |
Serbia
|
- | 0.01% | |
Ukraine
|
- | 0.01% | |
Montenegro
|
- | 0.01% | |
Bosnia and Herzegowina
|
- | 0.00% | |
Albania
|
- | 0.00% | |
Russian Federation
|
- | 0.00% | |
Breakdown By Market Cap (%)
| Mega |
|
27.43% |
| Large |
|
12.74% |
| Medium |
|
8.95% |
| Small |
|
3.28% |
| Micro |
|
0.70% |
| Non-Classified |
|
16.63% |
| Bonds |
|
17.29% |
| Cash |
|
12.99% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
6.04% |
| 5Yr - 10Yr Maturity |
|
4.26% |
| 10Yr - 15Yr Maturity |
|
1.11% |
| > 15Yr Maturity |
|
5.87% |
| Cash And Equivalents |
|
12.99% |
| Unknown Maturity |
|
3.37% |
| Other Asset Types |
|
66.35% |
Fixed Interest Quality Profile
| AAA |
|
1.01% |
| AA |
|
2.08% |
| A |
|
3.69% |
| BBB |
|
4.93% |
| Sub-Investment Grade |
|
1.84% |
| Unknown Quality |
|
3.75% |
| Cash and Equivalents |
|
12.99% |
| Other Asset Types |
|
69.72% |
Top 10 Fund Holdings
| Name | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | M&G PP UK Equity Fund | 19.15% | Managed Funds | Managed Funds |
| 2 | M&G (1) Asia Pacific (ex Japan) Equity Class GBPZ2A | 9.23% | Managed Funds | Managed Funds |
| 3 | Eastspring US Corporate Bond Class EG (hedged) | 5.76% | Managed Funds | Managed Funds |
| 4 | M&G PP Europe Equity | 5.21% | Managed Funds | Managed Funds |
| 5 | iShares iShares II plc UK Property UCITS ETF GBP (Dist) | 4.49% | Managed Funds | Managed Funds |
| 6 | M&G (ACS) Blackrock US Equity Z2A Acc | 4.27% | Managed Funds | Managed Funds |
| 7 | M&G (ACS) Japan Equity Fund Z2A Acc | 4.22% | Managed Funds | Managed Funds |
| 8 | M&G (ACS) BlackRock US Equity 2 GBPZ2A GBP ACC | 4.15% | Managed Funds | Managed Funds |
| 9 | Legal & General Global Infrastructure Index Class C | 4.07% | Managed Funds | Managed Funds |
| 10 | M&G Total Return Credit Investment Class PP GBP | 4.02% | Managed Funds | Managed Funds |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | iShares iShares plc European Property Yield UCITS ETF EUR (Dist) | 1.54% | Non-Classified | Direct Property and REITs |
| 2 | ASTRAZENECA | 1.36% | Pharmaceuticals & Biotechnology | United Kingdom |
| 3 | HSBC HOLDINGS | 1.23% | Banks | United Kingdom |
| 4 | CME S&P EMI FUT Jun24 | 1.22% | Non-Classified | Non-Classified |
| 5 | Segro Segro Ord GBP0.1 | 1.05% | Real Estate Investment Trusts | Direct Property and REITs |
| 6 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 0.94% | Technology Hardware & Equipment | Taiwan |
| 7 | UNILEVER | 0.81% | Personal Care, Drug & Grocery Stores | United Kingdom |
| 8 | SAMSUNG ELECTRONICS CO. LTD | 0.77% | Telecommunications Equipment | South Korea |
| 9 | BP | 0.74% | Non-Renewable Energy | United Kingdom |
| 10 | SHELL | 0.71% | Non-Renewable Energy | 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 | 0702254 |
| Mex Code | PUPMD |
| Isin Code | GB0007022543 |
| Citi Code | PS17 |
Fund Charges
| Annual Management Charge (AMC) | 0.75% |
| Further Costs | 0.04% |
| Yearly Total | 0.79% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the M&G PP Discretionary Fund - the underlying fund. Underlying Fund Objective: The fund provides a multi-asset approach to investment, holding a mix of UK and overseas company shares, bonds, property, cash plus listed alternative assets primarily through other M&G funds or direct holdings. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management. Performance Objective: To outperform the internal composite benchmark by 1.15%-1.40% a year (before charges) on a rolling three year basis. |
| Benchmark | Internal composite benchmark, asset allocation set by the M&G Treasury & Investment Office (T&IO). |
| Sector | ABI Mixed Investment 40-85% Shares |
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 | -0.43 |
| Beta | 1.15 |
| Sharpe | 0.00 |
| Standard Deviation | 9.58 |
| Info Ratio | -0.06 |
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 | Yes |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| 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
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.
Property
The fund invests in Property funds, property shares or direct property. In particular the following risks will apply:- The property market is illiquid and this can, in exceptional circumstances, lead to times in which clients are unable to dispose of part or all of their holding. Property valuations are made by independent agents but are ultimately subjective and a matter of judgement. Property transaction costs are high (typically around 7% due to legal costs, valuations and stamp duty)
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.
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 intended for the advisers of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. You should refer to your client's scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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 infomation or make any warranties regarding results from its usage.
These risk ratings have been developed by Prudential to help provide an indication of a fund’s potential level of risk and reward based on the type of assets which may be held by the fund. Other companies may use different descriptions and as such these risk ratings should not be considered as generic across the fund management industry.
We regularly review our fund risk ratings, so they may change in the future. If, in our view, there is a material change in the fund's level of risk, for example due to a significant change to the assets held by the fund or in the way the fund is managed, we will provide information on the new risk rating. We recommend that you make sure you understand the risk rating of any fund before you invest.
Medium Risk
These funds may invest in multi-asset strategies with a higher weighting in equities (or with significant derivative use), while funds investing mainly in property, high yield or government bonds (such as UK Gilts) are also in this category.
Help
Important Information
This factsheet is intended for the advisers of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. You should refer to your client's scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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 infomation 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 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 intended for the advisers of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. You should refer to your client's scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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 infomation or make any warranties regarding results from its usage.
Prudential is a trading name of Prudential Pensions Limited. Prudential Pensions Limited is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 992726. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.