Prudential BlackRock Aquila Emerging Markets Equity S3

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

Performance

Discrete performance - to latest available quarter end

31/03/19
to
31/03/20
31/03/20
to
31/03/21
31/03/21
to
31/03/22
31/03/22
to
31/03/23
31/03/23
to
31/03/24
Fund -14.2% 47.3% -7.5% -6.3% 5.3%
Benchmark -13.5% 42.3% -7.1% -4.9% 5.9%

Performance - to latest available quarter end

Quarter Annualised
1
2024
3 Years to
31/03/24
5 Years to
31/03/24
10 Years to
31/03/24
Fund 2.9% -3.0% 2.9% 5.8%
Benchmark 3.3% -2.2% 2.9% 5.8%

Top 10 Holdings

Stock % Weight
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 7.56
SAMSUNG ELECTRONICS CO. LTD 3.70
TENCENT HOLDINGS LIMITED 3.32
ALIBABA GROUP HOLDING LIMITED 2.13
PDD HOLDINGS INC 1.04
INFOSYS LTD 0.94
ICICI BANK LIMITED 0.93
SK HYNIX INC 0.90
RELIANCE INDUSTRIES LIMITED 0.87
CHINA CONSTRUCTION BANK CORPORATION 0.84
Total 22.22

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the BlackRock Aquila Connect Emerging Markets Equity Fund - the underlying fund.

Underlying Fund Objective: The fund aims to achieve a return that is consistent with the return of the MSCI Emerging Markets Index.

Fund Manager

BlackRock Team Managed manager of the underlying fund for 13 years and 11 months

Photo of BlackRock Team Managed BlackRock Team Managed

Fund Overview

Daily price (23/05/2024) 170.80
Fund size (30/04/2024) £5.92m
Underlying Fund size £1012.63m
Number of holdings 1351
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 01/02/2011

Asset Allocation

pie chart
  International Equities 98.47%
  Alternative Trading Strategies 0.67%
  Cash and Equivalents 0.35%
  Property 0.12%
  UK Equities 0.11%
  Other Assets 0.28%

Commentary

Performance as at Q1 2024 - Over the first quarter of 2024, financial markets saw mixed performance. Equity markets and riskier fixed income assets produced positive returns, whereas interest rate sensitive fixed income assets ended the quarter in negative territory. Upside surprises in economic data spurred investor appetite for risk assets. Contrarily, stickier than anticipated inflation prints served to push out expectations for the timing of interest rate cuts to the second half of the year and reduced the number of expected interest rate cuts for 2024 by half, which ultimately drove bond yields higher. Geopolitical tensions provided a potential tail risk, however not to an extent as to derail the market momentum. Developed Market Equities performed strongly across the board. Japan emerged as the top-performing market, owing to a combination of a weaker yen and a series of government reforms, including the termination of their negative interest rate policy. US Equity market returns continued to display signs of concentration, Nvidia, Microsoft, Meta and Amazon served as core positive drivers of index returns, whereas Apple and Tesla finished in negative territory. European Equities lagged their developed market counterparts, though saw a strong rally in March as stronger economic data and attractive valuations drove positive investor sentiment for the region. Emerging Market Equities broadly lagged that of Developed Markets over the quarter, however Chinese equity markets rebounded strongly following brighter economic activity data and supportive interventions from the People’s Bank of China. MSCI EM fully recovered from January weakness, gaining +2.4% in Q1 although still lagging DM (+9.0%) by a decent margin. Positive inflation dynamics and resilient growth in the US led to more muted optimism for early easing, whilst AI optimism drove tech heavy markets. EM Asia (+2.4%) was the best performing region, driven by strong returns out of North Asia. Korea (+1.7%) saw decent foreign inflows on strong hopes surrounding the government's corporate Value-Up program. AI optimism was fueled by strong Nvidia guidance, driving further upside across IT names, helping Taiwan to gain (+12.1%). China (-2.1%) was weaker as economic concerns continued to dominate. India (+6.2%) continues to be an outperformer on building economic confidence and strong earnings reports. EMEA finished Q1 up +1.1%, with high degrees of dispersion across the region. Saudi Arabia (+2.4%) was a net winner with very strong performance from the SMID cap space and expectations that OPEC+ voluntary production cuts would extend into 2Q, supporting the oil price. Central Europe continues to print decent returns with Poland (+3.4%) and Greece (+6.4%) outpacing the region. On the other hand, South Africa pulled back -6.9% as equities remain under pressure from a stronger US dollar and rising election uncertainty. Egypt (-29.7%) was the worst performing market across EM in Q1. LatAm lagged, finishing the quarter -3.9%. Brazil (-7.3%) was the major driver of muted returns on softer economic data. However, other LatAm countries posted positive returns. Peru (10.4%) was the best (15.8%), followed by Colombia ( 14.6%), Argentina (13.9%) , Mexico was flat.

Source: BlackRock

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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 98.47%
  Alternative Trading Strategies 0.67%
  Cash and Equivalents 0.35%
  Property 0.12%
  UK Equities 0.11%
  Other Assets 0.28%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Technology 23.55% - - -
 
Technology - 23.55% - -
 
Technology Hardware & Equipment - - 13.93% -
 
Semiconductors - - - 10.56%
 
Electronic Components - - - 1.63%
 
Computer Hardware - - - 1.47%
 
Production Technology Equipment - - - 0.27%
 
Software & Computer Services - - 9.62% -
 
Consumer Digital Services - - - 6.93%
 
Computer Services - - - 2.44%
 
Software - - - 0.25%
 
Financials 22.63% - - -
 
Banks - 17.24% - -
 
Banks - - 17.24% -
 
Banks - - - 17.24%
 
Financial Services - 2.70% - -
 
Investment Banking & Brokerage Services - - 1.75% -
 
Investment Services - - - 1.13%
 
Diversified Financial Services - - - 0.48%
 
Asset Managers & Custodians - - - 0.14%
 
Finance & Credit Services - - 0.95% -
 
Consumer Lending - - - 0.92%
 
Financial Data & Systems - - - 0.03%
 
Insurance - 2.68% - -
 
Life Insurance - - 1.91% -
 
Life Insurance - - - 1.91%
 
Non-life Insurance - - 0.77% -
 
Property & Casualty Insurance - - - 0.46%
 
Full Line Insurance - - - 0.32%
 
Consumer Discretionary 12.15% - - -
 
Retail - 3.74% - -
 
Retailers - - 3.74% -
 
Diversified Retailers - - - 3.39%
 
Specialty Retailers - - - 0.24%
 
Apparel Retailers - - - 0.06%
 
Home Improvement Retailers - - - 0.04%
 
Automobiles & Parts - 3.55% - -
 
Automobiles & Parts - - 3.55% -
 
Automobiles - - - 3.07%
 
Auto Parts - - - 0.30%
 
Tires - - - 0.18%
 
Consumer Products & Services - 3.04% - -
 
Leisure Goods - - 1.22% -
 
Electronic Entertainment - - - 0.77%
 
Recreational Vehicles & Boats - - - 0.37%
 
Consumer Electronics - - - 0.07%
 
Personal Goods - - 0.95% -
 
Clothing & Accessories - - - 0.54%
 
Luxury Items - - - 0.26%
 
Cosmetics - - - 0.08%
 
Footwear - - - 0.07%
 
Consumer Services - - 0.52% -
 
Education Services - - - 0.31%
 
Rental & Leasing Services: Consumer - - - 0.15%
 
Consumer Services: Misc. - - - 0.06%
 
Household Goods & Home Construction - - 0.35% -
 
Household Appliance - - - 0.32%
 
Household Furnishings - - - 0.03%
 
Household Equipment & Products - - - 0.00%
 
Travel & Leisure - 1.58% - -
 
Travel & Leisure - - 1.58% -
 
Travel & Tourism - - - 0.44%
 
Airlines - - - 0.39%
 
Restaurants & Bars - - - 0.38%
 
Hotels & Motels - - - 0.23%
 
Casinos & Gambling - - - 0.12%
 
Media - 0.25% - -
 
Media - - 0.25% -
 
Entertainment - - - 0.21%
 
Publishing - - - 0.04%
 
Telecommunications 7.72% - - -
 
Telecommunications - 7.72% - -
 
Telecommunications Equipment - - 4.97% -
 
Telecommunications Equipment - - - 4.97%
 
Telecommunications Service Providers - - 2.76% -
 
Telecommunications Services - - - 2.76%
 
Industrials 7.53% - - -
 
Industrial Goods & Services - 5.85% - -
 
Industrial Transportation - - 1.88% -
 
Transportation Services - - - 0.92%
 
Marine Transportation - - - 0.54%
 
Delivery Services - - - 0.18%
 
Railroads - - - 0.08%
 
Railroad Equipment - - - 0.07%
 
Commercial Vehicles & Parts - - - 0.07%
 
Commercial Vehicle-Equipment Leasing - - - 0.02%
 
Electronic & Electrical Equipment - - 1.54% -
 
Electrical Components - - - 1.50%
 
Electronic Equipment: Gauges & Meters - - - 0.03%
 
Electronic Equipment: Control & Filter - - - 0.01%
 
Electronic Equipment: Other - - - 0.01%
 
General Industrials - - 1.28% -
 
Diversified Industrials - - - 0.69%
 
Plastics - - - 0.26%
 
Paints & Coatings - - - 0.21%
 
Glass - - - 0.11%
 
Containers & Packaging - - - 0.01%
 
Industrial Engineering - - 0.62% -
 
Machinery: Industrial - - - 0.38%
 
Machinery: Engines - - - 0.13%
 
Machinery: Construction & Handling - - - 0.07%
 
Machinery: Specialty - - - 0.05%
 
Aerospace & Defence - - 0.41% -
 
Aerospace - - - 0.25%
 
Defense - - - 0.16%
 
Industrial Support Services - - 0.12% -
 
Business Training & Employment Agencies - - - 0.05%
 
Industrial Suppliers - - - 0.04%
 
Transaction Processing Services - - - 0.03%
 
Construction & Materials - 1.68% - -
 
Construction & Materials - - 1.68% -
 
Cement - - - 0.78%
 
Engineering & Contracting Services - - - 0.47%
 
Construction - - - 0.37%
 
Building, Roofing/Wallboard & Plumbing - - - 0.05%
 
Building Materials: Other - - - 0.01%
 
Building: Climate Control - - - 0.00%
 
Basic Materials 5.96% - - -
 
Basic Resources - 4.12% - -
 
Industrial Metals & Mining - - 2.99% -
 
Iron & Steel - - - 1.79%
 
General Mining - - - 0.36%
 
Nonferrous Metals - - - 0.30%
 
Aluminum - - - 0.25%
 
Copper - - - 0.18%
 
Metal Fabricating - - - 0.11%
 
Precious Metals & Mining - - 0.83% -
 
Gold Mining - - - 0.65%
 
Platinum & Precious Metals - - - 0.19%
 
Diamonds & Gemstones - - - 0.00%
 
Industrial Materials - - 0.30% -
 
Paper - - - 0.22%
 
Diversified Materials - - - 0.08%
 
Chemicals - 1.84% - -
 
Chemicals - - 1.84% -
 
Chemicals: Diversified - - - 1.36%
 
Fertilizers - - - 0.22%
 
Specialty Chemicals - - - 0.22%
 
Chemicals & Synthetic Fibers - - - 0.05%
 
Energy 5.94% - - -
 
Energy - 5.94% - -
 
Non-Renewable Energy - - 5.66% -
 
Oil Refining and Marketing - - - 2.95%
 
Integrated Oil & Gas - - - 1.74%
 
Coal - - - 0.59%
 
Oil: Crude Producers - - - 0.33%
 
Offshore Drilling & Other Services - - - 0.03%
 
Oil Equipment & Services - - - 0.02%
 
Renewable Energy - - 0.28% -
 
Renewable Energy Equipment - - - 0.28%
 
Consumer Staples 5.23% - - -
 
Food, Beverage & Tobacco - 3.43% - -
 
Beverages - - 1.74% -
 
Soft Drinks - - - 0.91%
 
Distillers & Vintners - - - 0.50%
 
Brewers - - - 0.34%
 
Food Producers - - 1.36% -
 
Food Products - - - 1.12%
 
Farming, Fishing, Ranching & Plantations - - - 0.17%
 
Fruit & Grain Processing - - - 0.07%
 
Tobacco - - 0.32% -
 
Tobacco - - - 0.32%
 
Personal Care, Drug & Grocery Stores - 1.80% - -
 
Personal Care, Drug & Grocery Stores - - 1.80% -
 
Personal Products - - - 0.77%
 
Food Retailers & Wholesalers - - - 0.71%
 
Drug Retailers - - - 0.30%
 
Nondurable Household Products - - - 0.01%
 
Health Care 3.48% - - -
 
Health Care - 3.48% - -
 
Pharmaceuticals & Biotechnology - - 2.55% -
 
Pharmaceuticals - - - 1.43%
 
Biotechnology - - - 1.12%
 
Health Care Providers - - 0.72% -
 
Health Care Facilities - - - 0.66%
 
Health Care Management Services - - - 0.05%
 
Health Care Services - - - 0.01%
 
Medical Equipment & Services - - 0.21% -
 
Medical Supplies - - - 0.14%
 
Medical Equipment - - - 0.07%
 
Medical Services - - - 0.01%
 
Utilities 2.74% - - -
 
Utilities - 2.74% - -
 
Electricity - - 2.22% -
 
Conventional Electricity - - - 1.68%
 
Alternative Electricity - - - 0.54%
 
Gas, Water & Multi-utilities - - 0.51% -
 
Gas Distribution - - - 0.25%
 
Multi-Utilities - - - 0.14%
 
Water - - - 0.11%
 
Waste & Disposal Services - - 0.01% -
 
Waste & Disposal Services - - - 0.01%
 
Real Estate 1.60% - - -
 
Real Estate - 1.60% - -
 
Real Estate Investment & Services - - 1.48% -
 
Real Estate Holding and Development - - - 1.28%
 
Real Estate Services - - - 0.20%
 
Real Estate Investment Trusts - - 0.12% -
 
Diversified REITs - - - 0.07%
 
Industrial REITs - - - 0.05%
 
Alternative Trading Strategies 0.67% - - -
 
Alternative Trading Strategies - 0.67% - -
 
Alternative Trading Strategies - - 0.67% -
 
Alternative Trading Strategies - - - 0.67%
 
Non-Classified 0.45% - - -
 
Non-Classified - 0.24% - -
 
Non-Classified - - 0.24% -
 
Non-Classified - - - 0.24%
 
Cash and Equivalents 0.35% - - -

Regional Allocation

pie chart
  Emerging Asia 71.94%
  Middle East & Africa 9.81%
  South & Central America 8.28%
  Non-Classified 2.67%
  Emerging Europe 2.32%
  Developed Asia 2.22%
  North America 1.96%
  Cash and Equivalents 0.35%
  Developed Europe - Excl UK 0.21%
  Other Regions 0.23%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.69%
  Cash 0.28%
  Pound Sterling 0.03%

Regional Breakdown

Expand allCollapse all
Region Country
 
Emerging Asia 71.94% -
 
China - 19.81%
 
India - 17.71%
 
Taiwan - 16.55%
 
South Korea - 12.36%
 
Indonesia - 1.90%
 
Thailand - 1.57%
 
Malaysia - 1.39%
 
Philippines - 0.67%
 
Middle East & Africa 9.81% -
 
Saudi Arabia - 4.37%
 
South Africa - 2.49%
 
United Arab Emirates - 1.12%
 
Qatar - 0.89%
 
Kuwait - 0.84%
 
Egypt - 0.10%
 
South & Central America 8.28% -
 
Brazil - 5.18%
 
Mexico - 2.43%
 
Chile - 0.47%
 
Colombia - 0.13%
 
Peru - 0.05%
 
Cayman Islands - 0.02%
 
Non-Classified 2.67% -
 
Emerging Europe 2.32% -
 
Poland - 0.73%
 
Turkey - 0.67%
 
Greece - 0.52%
 
Hungary - 0.26%
 
Czech Republic - 0.14%
 
Russian Federation - 0.00%
 
Developed Asia 2.22% -
 
Hong Kong - 2.20%
 
Singapore - 0.02%
 
North America 1.96% -
 
United States - 1.96%
 
Cash and Equivalents 0.35% -
 
Developed Europe - Excl UK 0.21% -
 
Luxembourg - 0.11%
 
Netherlands - 0.06%
 
Germany - 0.05%
 
Property 0.12% -
 
UK 0.11% -
 
United Kingdom - 0.11%
 
Jersey - 0.00%

Breakdown By Market Cap (%)

Mega
 
 
42.21%
Large
 
 
31.05%
Medium
 
 
11.08%
Small
 
 
0.13%
Micro
 
 
0.08%
Non-Classified
 
 
15.10%
Cash
 
 
0.35%

Top 10 Holdings

Stock % Weight Sector Country
1 TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 7.56% Technology Hardware & Equipment Taiwan
2 SAMSUNG ELECTRONICS CO. LTD 3.70% Telecommunications Equipment South Korea
3 TENCENT HOLDINGS LIMITED 3.32% Software & Computer Services China
4 ALIBABA GROUP HOLDING LIMITED 2.13% Retailers China
5 PDD HOLDINGS INC 1.04% Software & Computer Services China
6 INFOSYS LTD 0.94% Software & Computer Services India
7 ICICI BANK LIMITED 0.93% Banks India
8 SK HYNIX INC 0.90% Technology Hardware & Equipment South Korea
9 RELIANCE INDUSTRIES LIMITED 0.87% Non-Renewable Energy India
10 CHINA CONSTRUCTION BANK CORPORATION 0.84% Banks China

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 23.55% - - - - - - 23.55%
Telecommunications - 7.72% - - - - - - 7.72%
Financials - 22.63% - - - - - - 22.63%
Real Estate - 1.48% - - - 0.12% - - 1.60%
Consumer Discretionary - 12.15% - - - - 0.01% - 12.17%
Consumer Staples - 5.23% - - - - - - 5.23%
Energy - 5.94% - - - - - - 5.94%
Utilities - 2.74% - - - - - - 2.74%
Health Care - 3.48% - - - - - - 3.48%
Industrials - 7.53% - - - - 0.01% - 7.54%
Basic Materials 0.11% 5.84% - - - - 0.02% - 5.98%
Cash and Equivalents - - - - - - - 0.35% 0.35%
Non-Classified - 0.17% - - - - 0.91% - 1.07%

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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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 B4ZP2W3
Mex Code PUAAAC
Isin Code GB00B4ZP2W35
Citi Code MRP2

Fund Charges

Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the BlackRock Aquila Connect Emerging Markets Equity Fund - the underlying fund. Underlying Fund Objective: The fund aims to achieve a return that is consistent with the return of the MSCI Emerging Markets Index.
Benchmark MSCI Global Emerging Markets Index
Sector ABI Global Emerging Markets Equities

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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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 -0.24
Beta 1.06
Sharpe -0.01
Standard Deviation 12.48
Info Ratio -0.15

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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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.

  • Higher Risk
  • Medium to Higher Risk
  • Medium Risk
  • Lower to Medium Risk
  • Lower Risk
  • Minimal Risk

Higher Risk

These are specialist equity funds that focus on set geographical regions or a particular type of share e.g. shares of smaller companies or those that conform to certain criteria.

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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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.