Prudential BlackRock Aquila UK Equity Index 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

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 -22.6% 33.2% 11.8% 2.9% 7.6%
Benchmark -18.5% 26.7% 13.0% 2.9% 8.4%

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 3.6% 7.4% 5.0% 5.6%
Benchmark 3.6% 8.0% 5.4% 5.8%

Top 10 Holdings

Stock % Weight
SHELL 7.13
ASTRAZENECA 6.60
HSBC HOLDINGS 4.95
UNILEVER 4.12
BP 3.46
GSK 2.87
RELX 2.71
DIAGEO 2.70
RIO TINTO 2.28
GLENCORE 2.21
Total 39.03

Fund Aims

Objective:The investment strategy of the fund is to purchase units in the BlackRock Aquila Life UK Equity Index Fund - the underlying fund.

Underlying Fund Objective: The fund invests in the shares of UK companies and aims to achieve a return that is consistent with the return of the FTSE All-Share Index.

Fund Manager

BlackRock Team Managed manager of the underlying fund for 29 years and 7 months

Photo of BlackRock Team Managed BlackRock Team Managed

Fund Overview

Daily price (15/05/2024) 1476.80
Fund size (31/03/2024) £5.62m
Underlying Fund size £2106.77m
Number of holdings 1069
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 07/06/2001

Asset Allocation

pie chart
  UK Equities 87.94%
  Investment Trusts 5.09%
  International Equities 3.47%
  Property 1.71%
  Cash and Equivalents 0.83%
  International Bonds 0.17%
  UK Corporate Bonds 0.03%
  Alternative Trading Strategies 0.03%
  Money Market 0.00%
  Other Assets 0.73%

Commentary

Performance as at Q3 2023 - September saw the Bank of England (BoE) shock most market participants by keeping interest rates on hold at 5.25% following 14 consecutive rate hikes over nearly two years. A mix of data for the UK over the month as Composite Purchase Managers’ Index (PMIs) fell into “contraction” territory although beating expectations, the services sector hit a seven-month low, the economy contracted for the month of July while quarterly and annual growth was stronger than expected. All eyes were on the BoE meeting this month with the day ahead of the decision the inflation report released which showed core and headline inflation slow by more than anticipated, with food prices falling for the first time in two years. The BoE’s Monetary Policy Committee (MPC) voted 5-4 to maintain the Bank Rate at 5.25% following the drop in inflation however they cut their forecasts for economic growth for the second quarter while warning rates may need to remain at these high levels.

The month began with Composite, Manufacturing and Services PMIs falling into contraction territory at 48.6, 43.0 and 49.5 respectively while Construction PMI continued to expand at 50.8. Services hit a seven-month low but beat its estimate for a two-year low of 48.7. The unemployment rate grew to 4.3%, its highest rate in nearly two-years while UK pay continues to rise at a record rate. UK GDP for the month of July shrank at -0.5% as officials blamed wet weather and strikes. The biggest economic release apart from the BoE decision was the slowing of inflation, Core inflation year-onyear (YoY) slowed to 6.2% from 6.9%, while headline inflation YoY slowed to 6.7% from 6.8%. The following day the BoE’s MPC voted 5-4 for a pause on rate hikes, with the four opposing votes in favour of another hike. The bank rate remains at 5.25% as the pound hit its lowest level in six months against the dollar ($1.2239) on the back of the decision. The end of the month saw revisions to UK GDP which now indicates the UK has seen faster growth than France or Germany since the end of 2019, showing growth of 1.8% from a previous estimated 0.2% contraction.

Source: BlackRock

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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
  UK Equities 87.94%
  Investment Trusts 5.09%
  International Equities 3.47%
  Property 1.71%
  Cash and Equivalents 0.83%
  International Bonds 0.17%
  UK Corporate Bonds 0.03%
  Alternative Trading Strategies 0.03%
  Money Market 0.00%
  Other Assets 0.73%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Financials 22.16% - - -
 
Financial Services - 9.92% - -
 
Equity Investment Instruments - - 5.14% -
 
Equity Investment Instruments - - - 5.14%
 
Investment Banking & Brokerage Services - - 2.79% -
 
Asset Managers & Custodians - - - 2.49%
 
Investment Services - - - 0.29%
 
Diversified Financial Services - - - 0.00%
 
Finance & Credit Services - - 1.99% -
 
Financial Data & Systems - - - 1.85%
 
Consumer Lending - - - 0.08%
 
Mortgage Finance - - - 0.06%
 
Banks - 9.07% - -
 
Banks - - 9.07% -
 
Banks - - - 9.07%
 
Insurance - 3.17% - -
 
Life Insurance - - 2.28% -
 
Life Insurance - - - 2.28%
 
Non-life Insurance - - 0.88% -
 
Property & Casualty Insurance - - - 0.72%
 
Full Line Insurance - - - 0.16%
 
Consumer Staples 13.33% - - -
 
Personal Care, Drug & Grocery Stores - 7.00% - -
 
Personal Care, Drug & Grocery Stores - - 7.00% -
 
Personal Products - - - 4.13%
 
Food Retailers & Wholesalers - - - 1.50%
 
Nondurable Household Products - - - 1.36%
 
Food, Beverage & Tobacco - 6.34% - -
 
Beverages - - 3.03% -
 
Distillers & Vintners - - - 2.73%
 
Soft Drinks - - - 0.30%
 
Tobacco - - 2.67% -
 
Tobacco - - - 2.67%
 
Food Producers - - 0.63% -
 
Food Products - - - 0.63%
 
Farming, Fishing, Ranching & Plantations - - - 0.01%
 
Consumer Discretionary 12.36% - - -
 
Media - 4.08% - -
 
Media - - 4.08% -
 
Publishing - - - 3.04%
 
Media Agencies - - - 0.91%
 
Radio & TV Broadcasters - - - 0.13%
 
Entertainment - - - 0.01%
 
Travel & Leisure - 3.29% - -
 
Travel & Leisure - - 3.29% -
 
Casinos & Gambling - - - 1.45%
 
Hotels & Motels - - - 0.86%
 
Airlines - - - 0.48%
 
Travel & Tourism - - - 0.29%
 
Restaurants & Bars - - - 0.19%
 
Recreational Services - - - 0.03%
 
Consumer Products & Services - 3.26% - -
 
Consumer Services - - 1.70% -
 
Vending & Catering Service - - - 1.66%
 
Consumer Services: Misc. - - - 0.04%
 
Household Goods & Home Construction - - 1.17% -
 
Home Construction - - - 1.16%
 
Household Furnishings - - - 0.01%
 
Household Equipment & Products - - - 0.00%
 
Personal Goods - - 0.24% -
 
Clothing & Accessories - - - 0.19%
 
Luxury Items - - - 0.03%
 
Footwear - - - 0.02%
 
Leisure Goods - - 0.15% -
 
Toys - - - 0.13%
 
Photography - - - 0.02%
 
Electronic Entertainment - - - 0.00%
 
Retail - 1.60% - -
 
Retailers - - 1.60% -
 
Diversified Retailers - - - 0.72%
 
Home Improvement Retailers - - - 0.48%
 
Specialty Retailers - - - 0.20%
 
Apparel Retailers - - - 0.19%
 
Automobiles & Parts - 0.12% - -
 
Automobiles & Parts - - 0.12% -
 
Automobiles - - - 0.06%
 
Auto Parts - - - 0.06%
 
Industrials 12.11% - - -
 
Industrial Goods & Services - 11.71% - -
 
Aerospace & Defence - - 3.84% -
 
Defense - - - 1.95%
 
Aerospace - - - 1.89%
 
Industrial Support Services - - 3.37% -
 
Professional Business Support Services - - - 2.48%
 
Industrial Suppliers - - - 0.61%
 
Business Training & Employment Agencies - - - 0.16%
 
Transaction Processing Services - - - 0.11%
 
Security Services - - - 0.01%
 
Forms & Bulk Printing Services - - - 0.01%
 
General Industrials - - 1.58% -
 
Containers & Packaging - - - 0.87%
 
Diversified Industrials - - - 0.72%
 
Industrial Transportation - - 1.26% -
 
Commercial Vehicle-Equipment Leasing - - - 1.06%
 
Transportation Services - - - 0.09%
 
Delivery Services - - - 0.06%
 
Marine Transportation - - - 0.05%
 
Electronic & Electrical Equipment - - 1.01% -
 
Electronic Equipment: Gauges & Meters - - - 0.48%
 
Electronic Equipment: Control & Filter - - - 0.32%
 
Electrical Components - - - 0.21%
 
Industrial Engineering - - 0.64% -
 
Machinery: Industrial - - - 0.37%
 
Machinery: Construction & Handling - - - 0.22%
 
Machinery: Specialty - - - 0.05%
 
Construction & Materials - 0.41% - -
 
Construction & Materials - - 0.41% -
 
Construction - - - 0.16%
 
Building Materials: Other - - - 0.15%
 
Engineering & Contracting Services - - - 0.05%
 
Building, Roofing/Wallboard & Plumbing - - - 0.04%
 
Cement - - - 0.02%
 
Health Care 11.29% - - -
 
Health Care - 11.29% - -
 
Pharmaceuticals & Biotechnology - - 10.71% -
 
Pharmaceuticals - - - 10.60%
 
Biotechnology - - - 0.11%
 
Medical Equipment & Services - - 0.56% -
 
Medical Equipment - - - 0.36%
 
Medical Supplies - - - 0.20%
 
Health Care Providers - - 0.02% -
 
Health Care Facilities - - - 0.02%
 
Energy 10.85% - - -
 
Energy - 10.85% - -
 
Non-Renewable Energy - - 10.84% -
 
Integrated Oil & Gas - - - 10.59%
 
Oil: Crude Producers - - - 0.19%
 
Oil Equipment & Services - - - 0.06%
 
Offshore Drilling & Other Services - - - 0.01%
 
Renewable Energy - - 0.01% -
 
Alternative Fuels - - - 0.01%
 
Basic Materials 6.63% - - -
 
Basic Resources - 6.09% - -
 
Industrial Metals & Mining - - 5.86% -
 
General Mining - - - 5.50%
 
Copper - - - 0.29%
 
Metal Fabricating - - - 0.06%
 
Iron & Steel - - - 0.01%
 
Precious Metals & Mining - - 0.22% -
 
Gold Mining - - - 0.20%
 
Platinum & Precious Metals - - - 0.01%
 
Diamonds & Gemstones - - - 0.00%
 
Industrial Materials - - 0.01% -
 
Diversified Materials - - - 0.01%
 
Chemicals - 0.54% - -
 
Chemicals - - 0.54% -
 
Chemicals: Diversified - - - 0.46%
 
Specialty Chemicals - - - 0.08%
 
Utilities 3.43% - - -
 
Utilities - 3.43% - -
 
Gas, Water & Multi-utilities - - 2.58% -
 
Multi-Utilities - - - 1.95%
 
Water - - - 0.64%
 
Electricity - - 0.83% -
 
Conventional Electricity - - - 0.83%
 
Waste & Disposal Services - - 0.02% -
 
Waste & Disposal Services - - - 0.02%
 
Real Estate 2.35% - - -
 
Real Estate - 2.35% - -
 
Real Estate Investment Trusts - - 1.96% -
 
Diversified REITs - - - 0.55%
 
Industrial REITs - - - 0.54%
 
Residential REITs - - - 0.20%
 
Office REITs - - - 0.18%
 
Storage REITs - - - 0.14%
 
Health Care REITs - - - 0.12%
 
Other Specialty REITs - - - 0.12%
 
Retail REITs - - - 0.10%
 
Real Estate Investment & Services - - 0.38% -
 
Real Estate Services - - - 0.26%
 
Real Estate Holding and Development - - - 0.12%
 
Non-Classified 1.87% - - -
 
Technology 1.47% - - -
 
Technology - 1.47% - -
 
Software & Computer Services - - 1.39% -
 
Software - - - 0.70%
 
Consumer Digital Services - - - 0.50%
 
Computer Services - - - 0.19%
 
Technology Hardware & Equipment - - 0.08% -
 
Production Technology Equipment - - - 0.04%
 
Semiconductors - - - 0.03%
 
Electronic Components - - - 0.01%
 
Telecommunications 1.10% - - -
 
Telecommunications - 1.10% - -
 
Telecommunications Service Providers - - 1.05% -
 
Telecommunications Services - - - 1.05%
 
Telecommunications Equipment - - 0.05% -
 
Telecommunications Equipment - - - 0.05%
 
Cash and Equivalents 0.83% - - -
 
Bonds 0.21% - - -
 
Alternative Trading Strategies 0.03% - - -
 
Alternative Trading Strategies - 0.03% - -
 
Alternative Trading Strategies - - 0.03% -
 
Alternative Trading Strategies - - - 0.03%

Regional Allocation

pie chart
  UK 88.11%
  Non-Classified 6.17%
  Developed Europe - Excl UK 2.93%
  Property 1.56%
  Cash and Equivalents 0.83%
  North America 0.27%
  Middle East & Africa 0.06%
  Developed Asia 0.03%
  Japan 0.02%
  Other Regions 0.02%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 98.97%
  Cash 0.82%
  Pound Sterling 0.21%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 88.11% -
 
United Kingdom - 88.13%
 
Non-Classified 6.17% -
 
Developed Europe - Excl UK 2.93% -
 
Ireland - 1.93%
 
Spain - 0.27%
 
Luxembourg - 0.24%
 
Switzerland - 0.20%
 
Germany - 0.16%
 
Netherlands - 0.09%
 
France - 0.03%
 
Sweden - 0.01%
 
Finland - 0.00%
 
Property 1.56% -
 
Cash and Equivalents 0.83% -
 
North America 0.27% -
 
United States - 0.21%
 
Canada - 0.06%
 
Middle East & Africa 0.06% -
 
Israel - 0.06%
 
Developed Asia 0.03% -
 
Singapore - 0.02%
 
Hong Kong - 0.01%
 
Japan 0.02% -
 
Japan - 0.02%
 
Australia & New Zealand 0.01% -
 
Australia - 0.01%
 
South & Central America 0.01% -
 
Cayman Islands - 0.01%

Breakdown By Market Cap (%)

Mega
 
 
53.12%
Large
 
 
18.08%
Medium
 
 
11.72%
Small
 
 
3.47%
Micro
 
 
0.69%
Non-Classified
 
 
11.89%
Bonds
 
 
0.21%
Cash
 
 
0.83%

Top 10 Holdings

Stock % Weight Sector Country
1 SHELL 7.13% Non-Renewable Energy United Kingdom
2 ASTRAZENECA 6.60% Pharmaceuticals & Biotechnology United Kingdom
3 HSBC HOLDINGS 4.95% Banks United Kingdom
4 UNILEVER 4.12% Personal Care, Drug & Grocery Stores United Kingdom
5 BP 3.46% Non-Renewable Energy United Kingdom
6 GSK 2.87% Pharmaceuticals & Biotechnology United Kingdom
7 RELX 2.71% Media United Kingdom
8 DIAGEO 2.70% Beverages United Kingdom
9 RIO TINTO 2.28% Industrial Metals & Mining United Kingdom
10 GLENCORE 2.21% Industrial Metals & Mining United Kingdom

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology 1.32% 0.15% - - - - - - 1.47%
Telecommunications 1.10% - - - - - - - 1.10%
Financials 16.96% 0.11% - - - - 5.09% - 22.16%
Real Estate 0.82% - - - - 1.52% - - 2.35%
Consumer Discretionary 10.42% 1.94% - - - - - - 12.36%
Consumer Staples 13.08% 0.25% - - - - - - 13.33%
Energy 10.85% - - - - - - - 10.85%
Utilities 3.43% - - - - - - - 3.43%
Health Care 11.24% 0.04% - - - - - - 11.29%
Industrials 11.38% 0.74% - - - - 0.14% - 12.26%
Basic Materials 6.59% 0.04% - - - - - - 6.63%
Cash and Equivalents - - - - - - - 0.83% 0.83%
Bonds - - 0.03% 0.17% - - - - 0.21%
Non-Classified 0.75% 0.20% - - - 0.19% 0.62% - 1.76%

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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 B08ZTQ5
Mex Code PUGIU
Isin Code GB00B08ZTQ53
Citi Code UO47

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 Life UK Equity Index Fund - the underlying fund. Underlying Fund Objective: The fund invests in the shares of UK companies and aims to achieve a return that is consistent with the return of the FTSE All-Share Index.
Benchmark FTSE All-Share Index
ABI Sector UK All Companies

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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

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 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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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.