Prudential Index-Linked Passive S3
Performance
Discrete performance - to latest available quarter end
| 30/09/19 to 30/09/20 |
30/09/20 to 30/09/21 |
30/09/21 to 30/09/22 |
30/09/22 to 30/09/23 |
30/09/23 to 30/09/24 |
|
|---|---|---|---|---|---|
| Fund | 0.2% | 0.6% | -32.1% | -13.1% | 7.2% |
| Benchmark | 0.4% | 0.2% | -32.0% | -13.2% | 7.3% |
Performance - to latest available quarter end
| Quarter | Annualised | |||
|---|---|---|---|---|
| 3 2024 |
3 Years to 30/09/24 |
5 Years to 30/09/24 |
10 Years to 30/09/24 |
|
| Fund | 1.5% | -14.2% | -8.6% | 0.6% |
| Benchmark | 1.7% | -14.1% | -8.6% | 0.5% |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| 1¼% Index-linked Treasury Gilt 2032 | 6.21 |
| 1⅛% Index-linked Treasury Gilt 2037 | 5.84 |
| ¾% Index-linked Treasury Gilt 2034 | 5.52 |
| ⅝% Index-linked Treasury Gilt 2040 | 5.34 |
| 2% Index-linked Treasury Stock 2035 | 5.06 |
| ⅝% Index-linked Treasury Gilt 2042 | 4.69 |
| ⅛% Index-linked Treasury Gilt 2044 | 4.56 |
| 1¼% Index-linked Treasury Gilt 2055 | 4.51 |
| ¾% Index-linked Treasury Gilt 2047 | 4.39 |
| ⅛% Index-linked Treasury Gilt 2036 | 4.26 |
| Total | 50.38 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the M&G PP Index-Linked Passive Fund - the underlying fund.
Underlying Fund Objective: The fund invests in UK Government index-linked gilts with over five years to maturity. The fund is passively managed against its benchmark, the iBoxx UK Gilt Inflation-Linked Over 5 Years Index. Tracking this index is achieved by fully replicating the stocks in the Index.
Performance Objective: To match the performance of the benchmark as closely as possible.
Fund Manager
Robert joined M&G in 2007 as a fund managers’ assistant, supporting our institutional portfolio management team. He was promoted to Assistant Fund Manager in January 2008. Prior to M&G, Robert worked in fund accounting for Cambridge Place Investment Management, a hedge fund boutique. Robert graduated from the University of Pietermaritzburg in South Africa with an honours degree in Finance and Economics. Robert is a CFA charterholder.
Fund Overview
| Daily price (10/10/2024) | 274.80 |
| Fund size (31/08/2024) | £126.45m |
| Underlying Fund size | £145.49m |
| Number of holdings | 28 |
| Annual Management Charge (AMC) | Please refer to the "Fund Guide" for your specific pension plan |
| Launch date | 06/04/2001 |
Asset Allocation
| UK Gilts | 97.11% | |
| Cash and Equivalents | 0.07% | |
| Other Assets | 2.81% |
Commentary
Performance as at Q2 2024 - The price of UK index-linked government bonds (index-linked gilts) fell by 2.3% in the second quarter of 2024 and underperformed conventional gilts which fell by 0.9%. The yield on the 10-year UK gilt rose to 4.2%, up from 3.9% at the end of March. (Bond yields and prices move in opposite directions). The UK economy recovered from recession in the period; between January and March, the economy expanded by 0.7%. Meanwhile, the headline Consumer Price Index (CPI) inflation fell back to the 2.0% target for the first time in three years in May, although core CPI increased by 3.5% and services inflation was 5.7%. The Bank of England held interest rates at 5.25% in the period. However, Governor Andrew Bailey indicated that a summer rate cut may still be possible, resulting in markets increasing their bets for an August cut. Shorter-dated gilts outperformed longer-dated gilts, particularly those over 15 years, which fell 2.8%. Meanwhile, 5-year breakeven rates fell slightly to 3.6% at the end of June from 3.7% at the end of March.
Source: M&G
Important Information
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 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.
Asset Allocation
| UK Gilts | 97.11% | |
| Cash and Equivalents | 0.07% | |
| Other Assets | 2.81% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 97.11% | - | - | - | |
| Non-Classified | 2.81% | - | - | - | |
| Cash and Equivalents | 0.07% | - | - | - | |
Regional Allocation
| UK | 97.11% | |
| Non-Classified | 2.81% | |
| Cash and Equivalents | 0.07% |
Fixed Interest Currencies
| Pound Sterling | 97.11% | |
| Non-Fixed Interest Assets | 2.81% | |
| Cash | 0.07% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 97.11% | - | |
United Kingdom
|
- | 97.11% | |
| Non-Classified | 2.81% | - | |
| Cash and Equivalents | 0.07% | - | |
Fixed Interest Maturity Profile
| 5Yr - 10Yr Maturity |
|
21.73% |
| 10Yr - 15Yr Maturity |
|
18.60% |
| > 15Yr Maturity |
|
56.78% |
| Cash And Equivalents |
|
0.07% |
| Unknown Maturity |
|
2.81% |
Fixed Interest Quality Profile
| AA |
|
97.11% |
| Cash and Equivalents |
|
0.07% |
| Other Asset Types |
|
2.81% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 1¼% Index-linked Treasury Gilt 2032 | 6.21% | Bonds | United Kingdom |
| 2 | 1⅛% Index-linked Treasury Gilt 2037 | 5.84% | Bonds | United Kingdom |
| 3 | ¾% Index-linked Treasury Gilt 2034 | 5.52% | Bonds | United Kingdom |
| 4 | ⅝% Index-linked Treasury Gilt 2040 | 5.34% | Bonds | United Kingdom |
| 5 | 2% Index-linked Treasury Stock 2035 | 5.06% | Bonds | United Kingdom |
| 6 | ⅝% Index-linked Treasury Gilt 2042 | 4.69% | Bonds | United Kingdom |
| 7 | ⅛% Index-linked Treasury Gilt 2044 | 4.56% | Bonds | United Kingdom |
| 8 | 1¼% Index-linked Treasury Gilt 2055 | 4.51% | Bonds | United Kingdom |
| 9 | ¾% Index-linked Treasury Gilt 2047 | 4.39% | Bonds | United Kingdom |
| 10 | ⅛% Index-linked Treasury Gilt 2036 | 4.26% | Bonds | United Kingdom |
Important Information
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 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 | 3282441 |
| Mex Code | PUMGIL |
| Isin Code | GB0032824418 |
| Citi Code | P276 |
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 Index-Linked Passive Fund - the underlying fund. Underlying Fund Objective: The fund invests in UK Government index-linked gilts with over five years to maturity. The fund is passively managed against its benchmark, the iBoxx UK Gilt Inflation-Linked Over 5 Years Index. Tracking this index is achieved by fully replicating the stocks in the Index. Performance Objective: To match the performance of the benchmark as closely as possible. |
| Benchmark | iBoxx UK Gilt Inflation-Linked Over 5 Year Index |
| Sector | ABI UK Index-linked Gilts |
Important Information
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 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.
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 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
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 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.