Prudential Positive Impact S3

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

Performance

Discrete performance - to latest available quarter end

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
30/06/24
to
30/06/25
Fund 24.4% -9.7% 12.9% 4.1% -0.2%
Benchmark 25.1% -3.7% 11.9% 20.6% 7.6%

Performance - to latest available quarter end

Quarter Annualised
2
2025
3 Years to
30/06/25
5 Years to
30/06/25
10 Years to
30/06/25
Fund 2.8% 5.5% 5.7% n/a
Benchmark 5.2% 13.3% 11.8% 12.1%

Top 10 Holdings

Stock % Weight
SCHNEIDER ELECTRIC SE 5.99
HDFC BANK LIMITED 5.64
JOHNSON CONTROLS INTL 5.18
REPUBLIC SERVICES 5.00
BRAMBLES LIMITED 4.48
SYNOPSYS 4.46
QUEST DIAGNOSTICS INCORPORATED 4.20
LION FINANCE GROUP 4.14
EBAY 4.14
THERMO FISHER SCIENTIFIC 4.07
Total 47.31

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP Positive Impact fund (the underlying fund). Underlying fund objective: The Fund has two aims:

• To provide combined capital growth and income, net of the Ongoing Charges Figure, that is higher than the MSCI ACWI Index over any five-year period. •To make a positive impact by advancing progress towards the following six “impact outcomes”: climate action; circular economy; environmental solutions; better health; social inclusion; better work and education.

The fund gains its exposure through the M&G Positive Impact Fund, an M&G OEIC, which is a concentrated portfolio of global stocks, investing over the long term in companies that contribute to the Sustainability Goal alongside a financial return, using a disciplined stock selection process. The fund has adopted the Sustainability Impact Label and “invests mainly” in solutions to sustainability problems, with an aim to achieve a positive impact for people or the planet. At least 80% of the fund is invested in companies across any sector and market capitalisation that are domiciled in any country, including emerging markets, which contribute towards the Sustainability Goal. Sustainability and impact considerations are fundamental in determining the fund’s investment universe and assessing investees’ business models. For each company invested in, the fund aims to achieve a pre-defined, positive, measurable impact in relation to the impact outcomes, measured using company-level key performance indicators. The fund invests at least 80% in the listed equities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets. The fund usually holds fewer than 40 stocks.The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for Efficient Portfolio Management and hedging.

Fund Manager

John William Olsen manager of the underlying fund for 6 years and 9 months

Photo of John William Olsen John William Olsen, a Danish national, joined M&G in April 2014, and was appointed fund manager of the M&G Global Growth Fund and M&G Pan European Fund in July 2014. John William joined M&G from Danske Capital, where from 2002 he had managed non-domestic equity portfolios, including the Global Stock Picking and Global Select equity funds, and also the European Select strategy. He joined Danske Capital in 1998 as a fund manager on the domestic Danish equities team, and in 2000 also became a global sector analyst focusing on technology and telecommunications stocks. John William gained a BA in business economics and then an MSc in finance and accounting from Copenhagen Business School.

Fund Overview

Daily price (03/09/2025) 138.40
Fund size (31/07/2025) £58.69m
Underlying Fund size $148.73m
Number of holdings 214
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 20/02/2020

Asset Allocation

pie chart
  International Equities 90.41%
  UK Equities 7.47%
  Alternative Trading Strategies 0.44%
  Cash and Equivalents 0.36%
  International Bonds 0.01%
  Other Assets 1.31%

Commentary

Performance as at Q2 2025 - The fund’s overweight to healthcare and underweight to technology proved particularly detrimental to the fund’s relative performance. Stockpicking in technology and materials also had a negative impact on relative returns. In contrast, stock selection in industrials boosted relative performance, as did the fund’s lack of exposure to energy.
Key detractors from relative performance included UnitedHealth and Thermo Fisher. In April, United Health’s share price fell after it released disappointing quarterly results and lowered its full-year guidance. UnitedHealth’s share price declined again in May after the resignation of its CEO and the suspension of its guidance announcement. The US health insurer has been afflicted by a number of issues in the past year – of which these are the latest.
The top contributors to relative performance were ALK-Abelló and Johnson Controls. In May, ALK-Abelló impressed the market with its quarterly results: the company has benefited from substantial growth in its tablet business, largely driven by new-patient starts in Europe. Meanwhile, Johnson Controls released better-than-expected quarterly results and increased its 2025 guidance in May.
In April, we closed our positions in UniFirst and SolarEdge. SolarEdge’s financial position has been dented by a confluence of factors, including the withdrawal of supportive policies in the US and high interest rates. The Fund Managers also opened positions in MSA Safety, a safety equipment manufacturer and supplier, and Recruit Holdings, a staffing agency.
After a good rebound and the return of “animal spirits”, markets look fragile. We do not attempt to predict market direction but tend to be more careful when markets are strong and elevated macro risk exists.
The Fund Managers have taken advantage of weakness and volatility over the past couple of quarters in order to strengthen the portfolio. We have opened positions in high-quality companies such as environmental engineering business Tetra Tech, Latin American e-commerce business facilitator MercadoLibre, safety equipment manufacturer MSA Safety and staffing agency Recruit. We believe these new holdings offer significant upside (versus entry price) and enhance the fund’s diversification and quality; they also enable us to recycle capital, removing it from lower-quality companies or those with less impact/upside. We believe the portfolio is well balanced and positioned to handle macro challenges.

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: 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 investment can go down as well as up so you might get back less than you put in.

This factsheet is intended for the trustees, sponsors, advisers and members 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. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their 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 information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 90.41%
  UK Equities 7.47%
  Alternative Trading Strategies 0.44%
  Cash and Equivalents 0.36%
  International Bonds 0.01%
  Other Assets 1.31%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Industrials 26.79% - - -
 
Industrial Goods & Services - 24.71% - -
 
Electronic & Electrical Equipment - - 17.13% -
 
Electronic Equipment: Control & Filter - - - 8.22%
 
Electrical Components - - - 5.99%
 
Electronic Equipment: Gauges & Meters - - - 2.92%
 
General Industrials - - 4.48% -
 
Containers & Packaging - - - 4.48%
 
Industrial Support Services - - 1.93% -
 
Business Training & Employment Agencies - - - 1.93%
 
Industrial Engineering - - 1.18% -
 
Machinery: Industrial - - - 1.18%
 
Construction & Materials - 2.08% - -
 
Construction & Materials - - 2.08% -
 
Engineering & Contracting Services - - - 2.08%
 
Health Care 26.04% - - -
 
Health Care - 26.04% - -
 
Medical Equipment & Services - - 13.50% -
 
Medical Equipment - - - 6.52%
 
Medical Services - - - 4.20%
 
Medical Supplies - - - 2.77%
 
Pharmaceuticals & Biotechnology - - 8.33% -
 
Pharmaceuticals - - - 5.65%
 
Biotechnology - - - 2.69%
 
Health Care Providers - - 4.21% -
 
Health Care Management Services - - - 2.53%
 
Health Care Services - - - 1.67%
 
Financials 13.52% - - -
 
Banks - 12.20% - -
 
Banks - - 12.20% -
 
Banks - - - 12.20%
 
Insurance - 1.32% - -
 
Non-life Insurance - - 1.32% -
 
Property & Casualty Insurance - - - 1.32%
 
Technology 10.74% - - -
 
Technology - 10.74% - -
 
Software & Computer Services - - 6.06% -
 
Software - - - 6.06%
 
Technology Hardware & Equipment - - 4.68% -
 
Semiconductors - - - 3.52%
 
Production Technology Equipment - - - 1.16%
 
Consumer Discretionary 8.60% - - -
 
Consumer Products & Services - 8.60% - -
 
Consumer Services - - 7.51% -
 
Consumer Services: Misc. - - - 5.76%
 
Education Services - - - 1.75%
 
Household Goods & Home Construction - - 1.09% -
 
Home Construction - - - 1.09%
 
Utilities 7.24% - - -
 
Utilities - 7.24% - -
 
Waste & Disposal Services - - 5.00% -
 
Waste & Disposal Services - - - 5.00%
 
Electricity - - 2.24% -
 
Alternative Electricity - - - 2.24%
 
Basic Materials 3.27% - - -
 
Basic Resources - 3.27% - -
 
Industrial Materials - - 3.27% -
 
Paper - - - 3.27%
 
Telecommunications 1.69% - - -
 
Telecommunications - 1.69% - -
 
Telecommunications Service Providers - - 1.69% -
 
Telecommunications Services - - - 1.69%
 
Non-Classified 1.31% - - -
 
Alternative Trading Strategies 0.44% - - -
 
Alternative Trading Strategies - 0.44% - -
 
Alternative Trading Strategies - - 0.44% -
 
Alternative Trading Strategies - - - 0.44%
 
Cash and Equivalents 0.36% - - -
 
Bonds 0.01% - - -

Regional Allocation

pie chart
  North America 50.02%
  Developed Europe - Excl UK 21.91%
  Emerging Asia 8.06%
  UK 7.47%
  Japan 5.94%
  Australia & New Zealand 4.49%
  Non-Classified 1.75%
  Cash and Equivalents 0.36%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.63%
  Cash 0.36%
  US Dollar 0.01%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 50.02% -
 
United States - 50.02%
 
Developed Europe - Excl UK 21.91% -
 
Denmark - 7.89%
 
France - 5.99%
 
Ireland - 5.18%
 
Germany - 1.67%
 
Norway - 1.18%
 
Emerging Asia 8.06% -
 
India - 5.64%
 
Indonesia - 2.42%
 
UK 7.47% -
 
United Kingdom - 7.47%
 
Japan 5.94% -
 
Japan - 5.94%
 
Australia & New Zealand 4.49% -
 
Australia - 4.49%
 
Non-Classified 1.75% -
 
Cash and Equivalents 0.36% -

Breakdown By Market Cap (%)

Mega
 
 
24.59%
Large
 
 
22.65%
Medium
 
 
14.46%
Small
 
 
1.32%
Non-Classified
 
 
36.61%
Bonds
 
 
0.01%
Cash
 
 
0.36%

Top 10 Holdings

Stock % Weight Sector Country
1 SCHNEIDER ELECTRIC SE 5.99% Electronic & Electrical Equipment France
2 HDFC BANK LIMITED 5.64% Banks India
3 JOHNSON CONTROLS INTL 5.18% Electronic & Electrical Equipment Ireland
4 REPUBLIC SERVICES 5.00% Waste & Disposal Services United States
5 BRAMBLES LIMITED 4.48% General Industrials Australia
6 SYNOPSYS 4.46% Software & Computer Services United States
7 QUEST DIAGNOSTICS INCORPORATED 4.20% Medical Equipment & Services United States
8 LION FINANCE GROUP 4.14% Banks United Kingdom
9 EBAY 4.14% Consumer Services United States
10 THERMO FISHER SCIENTIFIC 4.07% Medical Equipment & Services United States

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 10.74% - - - - - - 10.74%
Telecommunications 1.69% - - - - - - - 1.69%
Financials 4.14% 9.38% - - - - - - 13.52%
Consumer Discretionary - 8.60% - - - - - - 8.60%
Utilities - 7.24% - - - - - - 7.24%
Health Care 1.64% 24.40% - - - - - - 26.04%
Industrials - 26.79% - - - - - - 26.79%
Basic Materials - 3.27% - - - - - - 3.27%
Cash and Equivalents - - - - - - - 0.36% 0.36%
Bonds - - - 0.01% - - - - 0.01%
Non-Classified - - - - - - 1.75% - 1.75%

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 information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 BKTPJ31
Mex Code PUAABJ
Isin Code GB00BKTPJ319
Citi Code QYKJ

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 M&G PP Positive Impact fund (the underlying fund). Underlying fund objective: The Fund has two aims: • To provide combined capital growth and income, net of the Ongoing Charges Figure, that is higher than the MSCI ACWI Index over any five-year period. •To make a positive impact by advancing progress towards the following six “impact outcomes”: climate action; circular economy; environmental solutions; better health; social inclusion; better work and education. The fund gains its exposure through the M&G Positive Impact Fund, an M&G OEIC, which is a concentrated portfolio of global stocks, investing over the long term in companies that contribute to the Sustainability Goal alongside a financial return, using a disciplined stock selection process. The fund has adopted the Sustainability Impact Label and “invests mainly” in solutions to sustainability problems, with an aim to achieve a positive impact for people or the planet. At least 80% of the fund is invested in companies across any sector and market capitalisation that are domiciled in any country, including emerging markets, which contribute towards the Sustainability Goal. Sustainability and impact considerations are fundamental in determining the fund’s investment universe and assessing investees’ business models. For each company invested in, the fund aims to achieve a pre-defined, positive, measurable impact in relation to the impact outcomes, measured using company-level key performance indicators. The fund invests at least 80% in the listed equities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets. The fund usually holds fewer than 40 stocks.The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for Efficient Portfolio Management and hedging.
Benchmark MSCI ACWI Index
ABI Sector Global 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 information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.

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.

You should also consider discussing your decision and the appropriateness of a fund's risk rating with an adviser.

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

Medium to Higher Risk

These funds offer a diverse geographical spread of equity investment or have multi-asset strategies with a specialist focus (e.g. ethical). The equity funds within this category will have greater overseas exposure and underlying volatility than the "medium" sector.

Help

Important Information

This factsheet is intended for the trustees, sponsors, advisers and members 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. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their 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 information or make any warranties regarding results from its usage.

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source: 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 investment can go down as well as up so you might get back less than you put in.

This factsheet is intended for the trustees, sponsors, advisers and members 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. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their 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 information 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.