PIA PruFund Cautious Fund USD 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

30/04/17
to
30/04/18
30/04/18
to
30/04/19
30/04/19
to
30/04/20
30/04/20
to
30/04/21
30/04/21
to
30/04/22
Fund 6.0% 3.9% -4.0% 24.9% -4.0%

Annualised performance

Annualised
3 Years to
30/04/22
5 Years to
30/04/22
10 Years to
30/04/22
Fund 4.8% 4.9% 5.3%

Commentary

31 March 2022

Global inflationary fears and Russia’s invasion of Ukraine dominated global financial markets. Rising inflation expectations weighed heavily on both bonds and shares, as investors fretted over the impact of higher prices and anticipated a much faster pace of interest rate rises from the major central banks. The conflict in Ukraine acted as another catalyst for commodity price rises. The added geopolitical uncertainty weighed heavily on many emerging markets, particularly those closest to the conflict zone. However, some markets further afield, such as in Latin America, and notable oil-producing nations performed well.

Assets traditionally seen as safer bets, such as the US dollar and gold also benefited. The yields on government bonds in the UK, US and Europe rose sharply (prompting notable losses for many investors).

UK commercial property enjoyed a solid start. Despite the high level of COVID-19 cases, rising inflation and increasing interest rates, investors appear optimistic. We believe the reasons for the optimism are improving economic and employment growth – both key drivers of the demand for space – buoyant household savings, which are supportive of a retail and leisure recovery, and employees returning to the office. Trends of the past few months remain in play, with ongoing strong demand for industrials. Retail has seen a marked recovery. Demand for office space is also steadily gaining traction.

The M&G Treasury & Investment Office (T&IO) outlook is cautiously optimistic although 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 US 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 12 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 and assets under management of £178bn. 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 risk. 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, a member of the Board of Trustees at the Macular 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 (20/05/2022) 2.04
Offer n/a
Fund size -
Launch date 25/11/2009

Fund Charges

Annual Management Charge (AMC) 1.20%
Further Costs 0.03%
Yearly Total 1.23%
Portfolio data accurate as at: 31/03/22

Asset Allocation

US Investment Grade
 
 
24.20%
Europe Investment Grade
 
 
12.60%
Asia Fixed Interest
 
 
11.80%
North American Equities
 
 
9.60%
Asia ex. Japan Equities
 
 
5.40%
North America Property
 
 
4.30%
European Equities
 
 
3.60%
UK Equities
 
 
3.30%
US Treasury
 
 
3.30%
Emerging Market Debt
 
 
2.90%
Private Equity
 
 
2.60%
Tactical Investment Opportunities
 
 
2.00%
Cash & Equivalents
 
 
2.00%
Japanese Equities
 
 
1.80%
Infrastructure
 
 
1.60%
Middle East and Africa Equities
 
 
1.40%
Europe High Yield
 
 
1.40%
Africa Fixed Interest
 
 
1.40%
Hedge Fund
 
 
1.00%
Global Emerging Markets Equities
 
 
0.90%
UK Property
 
 
0.90%
Europe ex UK property
 
 
0.70%
Asia Property
 
 
0.70%
Lower Risk Private Credit
 
 
0.60%
UK Investment Grade
 
 
0.00%
UK High Yield
 
 
0.00%
US High Yield
 
 
0.00%
Convertibles
 
 
0.00%
Global High Yield
 
 
0.00%
Private High Yield
 
 
0.00%

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 Expected Growth Rates as set by the Directors of the Prudential Assurance Company Ltd (PAC), our charges, the smoothing process, if there is a guarantee and when you take your money out. Guarantees are currently closed to new investments.

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
 
 
24.20%
Europe Investment Grade
 
 
12.60%
Asia Fixed Interest
 
 
11.80%
North American Equities
 
 
9.60%
Asia ex. Japan Equities
 
 
5.40%
North America Property
 
 
4.30%
European Equities
 
 
3.60%
UK Equities
 
 
3.30%
US Treasury
 
 
3.30%
Emerging Market Debt
 
 
2.90%
Private Equity
 
 
2.60%
Tactical Investment Opportunities
 
 
2.00%
Cash & Equivalents
 
 
2.00%
Japanese Equities
 
 
1.80%
Infrastructure
 
 
1.60%
Middle East and Africa Equities
 
 
1.40%
Europe High Yield
 
 
1.40%
Africa Fixed Interest
 
 
1.40%
Hedge Fund
 
 
1.00%
Global Emerging Markets Equities
 
 
0.90%
UK Property
 
 
0.90%
Europe ex UK property
 
 
0.70%
Asia Property
 
 
0.70%
Lower Risk Private Credit
 
 
0.60%

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 Expected Growth Rates as set by the Directors of the Prudential Assurance Company Ltd (PAC), our charges, the smoothing process, if there is a guarantee and when you take your money out. Guarantees are currently closed to new investments.

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 B41ZT48
Mex Code SBPDTS
Isin Code IE00B41ZT488
Citi Code GSK0

Fund Charges

Annual Management Charge (AMC) 1.20%
Further Costs 0.03%
Yearly Total 1.23%

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 US 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 Expected Growth Rates as set by the Directors of the Prudential Assurance Company Ltd (PAC), our charges, the smoothing process, if there is a guarantee and when you take your money out. Guarantees are currently closed to new investments.

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 -1.48
Beta 1.54
Sharpe 0.13
Standard Deviation 10.29
Info Ratio 0.07

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.

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 Expected Growth Rates as set by the Directors of the Prudential Assurance Company Ltd (PAC), our charges, the smoothing process, if there is a guarantee and when you take your money out. Guarantees are currently closed to new investments.

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 Expected Growth Rates as set by the Directors of the Prudential Assurance Company Ltd (PAC), our charges, the smoothing process, if there is a guarantee and when you take your money out. Guarantees are currently closed to new investments.

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.