Prudential International Equity S1

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

Performance

Discrete performance - to latest available quarter end

30/06/17
to
30/06/18
30/06/18
to
30/06/19
30/06/19
to
30/06/20
30/06/20
to
30/06/21
30/06/21
to
30/06/22
Fund 5.5% 4.5% -4.2% 25.9% -3.6%
Benchmark 7.5% 7.8% 4.7% 23.4% -7.5%

Performance - to latest available quarter end

Quarter Annualised
2
2022
3 Years to
30/06/22
5 Years to
30/06/22
10 Years to
30/06/22
Fund -6.1% 5.2% 5.1% 10.1%
Benchmark -6.2% 6.1% 6.7% 11.2%

Top 10 Holdings

Stock % Weight
TAIWAN SEMICONDUCTOR MANUFACTURING CO. 2.26
SAMSUNG ELECTRONICS CO. LTD 1.91
MICROSOFT CORP 1.45
APPLE INC 1.42
PPL N AMER CANADA EQTY Prvt 1.17
NESTLE S.A. 1.16
AIA GROUP LIMITED 1.08
ROCHE HLDG AG 0.88
BHP GROUP LIMITED 0.66
ASML HOLDING N.V. 0.66
Total 12.66

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP International Equity Fund - the underlying fund.

Underlying Fund Objective: The fund invests, primarily via other M&G funds, in the shares of overseas companies. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management.

Performance Objective: To outperform the internal composite benchmark by 1.0% a year (before charges) on a rolling three year basis.

Fund Manager

M&G Treasury & Investment Office manager of the underlying fund for 41 years and 4 months

Photo of M&G Treasury & Investment Office With access to investment professionals around the world and assets under management of £178bn, the M&G Treasury & Investment Office (T&IO) has a broad and well-resourced investment capability. 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 risks.

Fund Overview

Bid (15/08/2022) 8.82
Offer (15/08/2022) 9.29
Fund size (30/06/2022) £104.24m
Underlying Fund size £113.96m
Number of holdings 1427
Launch date 02/07/1991

Fund Charges

Annual Management Charge (AMC) 0.75%
Further Costs 0.06%
Yearly Total 0.81%

Asset Allocation

pie chart
  International Equities 87.79%
  Cash and Equivalents 8.66%
  Property 0.84%
  UK Equities 0.39%
  International Bonds 0.17%
  Money Market 0.05%
  Alternative Trading Strategies 0.00%
  Other Assets 2.09%

Commentary

Performance as at Q1 2022 - Against a backdrop of stubbornly high inflation and the invasion of Ukraine by Russia, equities fell in the first quarter of 2022. Investors reassessed their recent outlook due partly to the rapid rise in yields, which came in response to the increasingly hawkish rhetoric from central banks, as they acknowledged that inflation would be higher for longer. The war in Ukraine also weighed on investor sentiment, particularly regarding those markets in close proximity and/or with meaningful economic ties to the region.

The fund fell in the quarter and was ahead of the benchmark and the comparator. In an overall falling market, Pacific markets and the US declined modestly, all in sterling terms. Europe was the weakest area followed by emerging markets and Japan. There was meaningful divergence between regions, sectors and factors. European shares were hurt by their geographical proximity to the conflict and economic ties with Ukraine and Russia. Geopolitical uncertainty weighed heavily on a number of emerging markets and a new wave of COVID-19 cases, lockdowns in major cities and regulatory concerns dragged Chinese equity markets down.

In terms of relative performance, stock selection in all equity markets was beneficial for returns.

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 87.79%
  Cash and Equivalents 8.66%
  Property 0.84%
  UK Equities 0.39%
  International Bonds 0.17%
  Money Market 0.05%
  Alternative Trading Strategies 0.00%
  Other Assets 2.09%

Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Technology 17.53% - - -
 
Technology - 17.53% - -
 
Technology Hardware & Equipment - - 11.06% -
 
Semiconductors - - - 4.92%
 
Computer Hardware - - - 3.98%
 
Electronic Components - - - 1.21%
 
Production Technology Equipment - - - 0.90%
 
Electronic Office Equipment - - - 0.05%
 
Software & Computer Services - - 6.47% -
 
Consumer Digital Services - - - 2.99%
 
Software - - - 2.56%
 
Computer Services - - - 0.92%
 
Financials 17.11% - - -
 
Banks - 8.82% - -
 
Banks - - 8.82% -
 
Banks - - - 8.82%
 
Insurance - 4.22% - -
 
Non-life Insurance - - 2.37% -
 
Property & Casualty Insurance - - - 1.06%
 
Full Line Insurance - - - 0.95%
 
Reinsurance - - - 0.25%
 
Insurance Brokers - - - 0.11%
 
Life Insurance - - 1.85% -
 
Life Insurance - - - 1.85%
 
Financial Services - 4.08% - -
 
Investment Banking & Brokerage Services - - 2.68% -
 
Investment Services - - - 1.27%
 
Diversified Financial Services - - - 0.91%
 
Asset Managers & Custodians - - - 0.49%
 
Finance & Credit Services - - 1.40% -
 
Mortgage Finance - - - 1.06%
 
Financial Data & Systems - - - 0.34%
 
Consumer Lending - - - 0.00%
 
Industrials 13.10% - - -
 
Industrial Goods & Services - 11.86% - -
 
Industrial Transportation - - 3.02% -
 
Railroads - - - 0.75%
 
Marine Transportation - - - 0.72%
 
Transportation Services - - - 0.62%
 
Commercial Vehicles & Parts - - - 0.36%
 
Delivery Services - - - 0.34%
 
Railroad Equipment - - - 0.14%
 
Trucking - - - 0.10%
 
General Industrials - - 2.84% -
 
Diversified Industrials - - - 1.78%
 
Containers & Packaging - - - 0.79%
 
Plastics - - - 0.12%
 
Paints & Coatings - - - 0.10%
 
Glass - - - 0.05%
 
Industrial Support Services - - 2.19% -
 
Transaction Processing Services - - - 1.09%
 
Professional Business Support Services - - - 0.41%
 
Industrial Suppliers - - - 0.35%
 
Business Training & Employment Agencies - - - 0.27%
 
Security Services - - - 0.07%
 
Electronic & Electrical Equipment - - 1.79% -
 
Electrical Components - - - 0.61%
 
Electronic Equipment: Gauges & Meters - - - 0.52%
 
Electronic Equipment: Control & Filter - - - 0.49%
 
Electronic Equipment: Pollution Control - - - 0.16%
 
Electronic Equipment: Other - - - 0.01%
 
Industrial Engineering - - 1.40% -
 
Machinery: Engines - - - 0.36%
 
Machinery: Construction & Handling - - - 0.32%
 
Machinery: Industrial - - - 0.31%
 
Machinery: Tools - - - 0.30%
 
Machinery: Agricultural - - - 0.11%
 
Aerospace & Defence - - 0.61% -
 
Aerospace - - - 0.47%
 
Defense - - - 0.14%
 
Construction & Materials - 1.24% - -
 
Construction & Materials - - 1.24% -
 
Construction - - - 0.46%
 
Building Materials: Other - - - 0.34%
 
Building: Climate Control - - - 0.19%
 
Cement - - - 0.13%
 
Building, Roofing/Wallboard & Plumbing - - - 0.06%
 
Engineering & Contracting Services - - - 0.06%
 
Consumer Discretionary 11.97% - - -
 
Consumer Products & Services - 3.66% - -
 
Personal Goods - - 1.72% -
 
Clothing & Accessories - - - 0.86%
 
Cosmetics - - - 0.38%
 
Luxury Items - - - 0.25%
 
Footwear - - - 0.22%
 
Leisure Goods - - 1.35% -
 
Consumer Electronics - - - 0.50%
 
Electronic Entertainment - - - 0.48%
 
Photography - - - 0.14%
 
Recreational Vehicles & Boats - - - 0.09%
 
Toys - - - 0.08%
 
Recreational Products - - - 0.06%
 
Consumer Services - - 0.31% -
 
Vending & Catering Service - - - 0.16%
 
Consumer Services: Misc. - - - 0.12%
 
Education Services - - - 0.02%
 
Household Goods & Home Construction - - 0.29% -
 
Home Construction - - - 0.12%
 
Household Equipment & Products - - - 0.08%
 
Household Appliance - - - 0.08%
 
Household Furnishings - - - 0.00%
 
Automobiles & Parts - 3.30% - -
 
Automobiles & Parts - - 3.30% -
 
Automobiles - - - 2.64%
 
Auto Parts - - - 0.63%
 
Tires - - - 0.03%
 
Retail - 3.05% - -
 
Retailers - - 3.05% -
 
Diversified Retailers - - - 2.36%
 
Apparel Retailers - - - 0.34%
 
Home Improvement Retailers - - - 0.22%
 
Specialty Retailers - - - 0.12%
 
Travel & Leisure - 1.38% - -
 
Travel & Leisure - - 1.38% -
 
Restaurants & Bars - - - 0.51%
 
Casinos & Gambling - - - 0.33%
 
Hotels & Motels - - - 0.26%
 
Travel & Tourism - - - 0.20%
 
Airlines - - - 0.08%
 
Media - 0.59% - -
 
Media - - 0.59% -
 
Entertainment - - - 0.20%
 
Radio & TV Broadcasters - - - 0.17%
 
Media Agencies - - - 0.13%
 
Publishing - - - 0.09%
 
Health Care 8.67% - - -
 
Health Care - 8.67% - -
 
Pharmaceuticals & Biotechnology - - 6.21% -
 
Pharmaceuticals - - - 5.37%
 
Biotechnology - - - 0.84%
 
Medical Equipment & Services - - 1.97% -
 
Medical Equipment - - - 1.28%
 
Medical Supplies - - - 0.66%
 
Medical Services - - - 0.03%
 
Health Care Providers - - 0.49% -
 
Health Care Management Services - - - 0.35%
 
Health Care Services - - - 0.10%
 
Health Care Facilities - - - 0.04%
 
Cash and Equivalents 8.66% - - -
 
Consumer Staples 5.13% - - -
 
Food, Beverage & Tobacco - 3.77% - -
 
Food Producers - - 2.03% -
 
Food Products - - - 1.94%
 
Farming, Fishing, Ranching & Plantations - - - 0.08%
 
Fruit & Grain Processing - - - 0.01%
 
Beverages - - 1.67% -
 
Soft Drinks - - - 0.79%
 
Brewers - - - 0.69%
 
Distillers & Vintners - - - 0.19%
 
Tobacco - - 0.07% -
 
Tobacco - - - 0.07%
 
Personal Care, Drug & Grocery Stores - 1.36% - -
 
Personal Care, Drug & Grocery Stores - - 1.36% -
 
Food Retailers & Wholesalers - - - 0.62%
 
Personal Products - - - 0.44%
 
Drug Retailers - - - 0.28%
 
Nondurable Household Products - - - 0.02%
 
Basic Materials 3.72% - - -
 
Chemicals - 1.93% - -
 
Chemicals - - 1.93% -
 
Chemicals: Diversified - - - 1.11%
 
Specialty Chemicals - - - 0.69%
 
Fertilizers - - - 0.09%
 
Chemicals & Synthetic Fibers - - - 0.05%
 
Basic Resources - 1.78% - -
 
Industrial Metals & Mining - - 1.38% -
 
General Mining - - - 0.77%
 
Iron & Steel - - - 0.49%
 
Copper - - - 0.06%
 
Aluminum - - - 0.04%
 
Metal Fabricating - - - 0.03%
 
Industrial Materials - - 0.21% -
 
Paper - - - 0.13%
 
Forestry - - - 0.04%
 
Diversified Materials - - - 0.02%
 
Textile Products - - - 0.01%
 
Precious Metals & Mining - - 0.19% -
 
Platinum & Precious Metals - - - 0.11%
 
Gold Mining - - - 0.07%
 
Energy 3.36% - - -
 
Energy - 3.36% - -
 
Non-Renewable Energy - - 3.16% -
 
Integrated Oil & Gas - - - 1.88%
 
Oil Refining and Marketing - - - 0.64%
 
Oil: Crude Producers - - - 0.36%
 
Pipelines - - - 0.15%
 
Oil Equipment & Services - - - 0.13%
 
Coal - - - 0.01%
 
Renewable Energy - - 0.21% -
 
Renewable Energy Equipment - - - 0.13%
 
Alternative Fuels - - - 0.08%
 
Telecommunications 3.16% - - -
 
Telecommunications - 3.16% - -
 
Telecommunications Service Providers - - 2.69% -
 
Telecommunications Services - - - 2.57%
 
Cable Television Services - - - 0.12%
 
Telecommunications Equipment - - 0.47% -
 
Telecommunications Equipment - - - 0.47%
 
Real Estate 2.85% - - -
 
Real Estate - 2.85% - -
 
Real Estate Investment & Services - - 1.75% -
 
Real Estate Holding and Development - - - 1.56%
 
Real Estate Services - - - 0.19%
 
Real Estate Investment Trusts - - 1.10% -
 
Retail REITs - - - 0.24%
 
Residential REITs - - - 0.22%
 
Diversified REITs - - - 0.21%
 
Industrial REITs - - - 0.15%
 
Office REITs - - - 0.14%
 
Infrastructure REITs - - - 0.07%
 
Other Specialty REITs - - - 0.04%
 
Health Care REITs - - - 0.02%
 
Hotel & Lodging REITs - - - 0.01%
 
Utilities 2.37% - - -
 
Utilities - 2.37% - -
 
Electricity - - 1.77% -
 
Conventional Electricity - - - 1.40%
 
Alternative Electricity - - - 0.37%
 
Gas, Water & Multi-utilities - - 0.48% -
 
Multi-Utilities - - - 0.33%
 
Gas Distribution - - - 0.08%
 
Water - - - 0.07%
 
Waste & Disposal Services - - 0.12% -
 
Waste & Disposal Services - - - 0.12%
 
Non-Classified 2.19% - - -
 
Non-Classified - 0.01% - -
 
Non-Classified - - 0.01% -
 
Non-Classified - - - 0.01%
 
Bonds 0.17% - - -
 
Alternative Trading Strategies 0.00% - - -
 
Alternative Trading Strategies - 0.00% - -
 
Alternative Trading Strategies - - 0.00% -
 
Alternative Trading Strategies - - - 0.00%

Regional Allocation

pie chart
  Developed Europe - Excl UK 24.24%
  North America 22.81%
  Emerging Asia 17.33%
  Japan 10.53%
  Cash and Equivalents 8.71%
  Developed Asia 6.49%
  Australia & New Zealand 4.14%
  Non-Classified 2.33%
  South & Central America 1.21%
  Other Regions 2.21%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 91.14%
  Cash 8.68%
  US Dollar 0.09%
  Swedish Krona 0.05%
  Swiss Franc 0.04%

Regional Breakdown

Expand allCollapse all
Region Country
 
Developed Europe - Excl UK 24.24% -
 
Switzerland - 5.12%
 
France - 4.92%
 
Germany - 3.87%
 
Netherlands - 2.61%
 
Sweden - 1.40%
 
Denmark - 1.34%
 
Spain - 1.30%
 
Italy - 0.98%
 
Ireland - 0.68%
 
Finland - 0.66%
 
Belgium - 0.49%
 
Norway - 0.39%
 
Portugal - 0.22%
 
Luxembourg - 0.15%
 
Austria - 0.12%
 
North America 22.81% -
 
United States - 22.57%
 
Canada - 0.24%
 
Emerging Asia 17.33% -
 
South Korea - 5.62%
 
Taiwan - 4.31%
 
China - 3.07%
 
India - 1.94%
 
Indonesia - 0.93%
 
Thailand - 0.82%
 
Malaysia - 0.35%
 
Philippines - 0.20%
 
Pakistan - 0.09%
 
Japan 10.53% -
 
Japan - 10.53%
 
Cash and Equivalents 8.71% -
 
Developed Asia 6.49% -
 
Hong Kong - 4.83%
 
Singapore - 1.66%
 
Australia & New Zealand 4.14% -
 
Australia - 4.05%
 
New Zealand - 0.09%
 
Non-Classified 2.33% -
 
South & Central America 1.21% -
 
Brazil - 0.83%
 
Mexico - 0.32%
 
Chile - 0.07%
 
Property 0.84% -
 
Middle East & Africa 0.50% -
 
South Africa - 0.47%
 
Israel - 0.04%
 
Emerging Europe 0.48% -
 
Turkey - 0.21%
 
Poland - 0.13%
 
Greece - 0.06%
 
Hungary - 0.06%
 
Czech Republic - 0.02%
 
Russian Federation - 0.00%
 
UK 0.39% -
 
United Kingdom - 0.39%

Breakdown By Market Cap (%)

Mega
 
 
56.08%
Large
 
 
20.91%
Medium
 
 
7.83%
Small
 
 
0.68%
Micro
 
 
0.20%
Non-Classified
 
 
5.47%
Bonds
 
 
0.17%
Cash
 
 
8.66%

Top 10 Fund Holdings

Name % Weight Sector Country
1 M&G PP Europe Equity 24.36% Managed Funds Managed Funds
2 M&G PP North America Equity 22.52% Managed Funds Managed Funds
3 M&G PP Pacific Basin ex-Japan Equity 19.52% Managed Funds Managed Funds
4 M&G PP Japan Equity 10.87% Managed Funds Managed Funds
5 M&G PP Emerging Markets Fund 8.76% Managed Funds Managed Funds
6 M&G PP Pacific Basin ex-Japan Equity Passive Fund 6.38% Managed Funds Managed Funds
7 S&P500 EMINI SEP 22 0.00% Non-Classified Non-Classified
8 Notional Cash Offset (VGU2 FUTURE) 0.00% Non-Classified Non-Classified
9 EURO STOXX 50 SEP 22 0.00% Non-Classified Non-Classified
10 Notional Cash Offset (ESU2 FUTURE) 0.00% Non-Classified Non-Classified

Top 10 Holdings

Stock % Weight Sector Country
1 TAIWAN SEMICONDUCTOR MANUFACTURING CO. 2.26% Technology Hardware & Equipment Taiwan
2 SAMSUNG ELECTRONICS CO. LTD 1.91% Technology Hardware & Equipment South Korea
3 MICROSOFT CORP 1.45% Software & Computer Services United States
4 APPLE INC 1.42% Technology Hardware & Equipment United States
5 PPL N AMER CANADA EQTY Prvt 1.17% Non-Classified Non-Classified
6 NESTLE S.A. 1.16% Food Producers Switzerland
7 AIA GROUP LIMITED 1.08% Life Insurance Hong Kong
8 ROCHE HLDG AG 0.88% Pharmaceuticals & Biotechnology Switzerland
9 BHP GROUP LIMITED 0.66% Industrial Metals & Mining Australia
10 ASML HOLDING N.V. 0.66% Technology Hardware & Equipment Netherlands

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 17.53% - - - - - - 17.53%
Telecommunications - 3.16% - - - - - - 3.16%
Financials 0.22% 16.89% - 0.09% - - - - 17.20%
Real Estate 0.09% 1.92% - - - 0.84% 0.02% - 2.87%
Consumer Discretionary 0.03% 11.95% - 0.09% - - 0.10% - 12.16%
Consumer Staples - 5.13% - - - - - - 5.13%
Energy - 3.36% - - - - 0.35% - 3.72%
Utilities - 2.37% - - - - 0.01% - 2.38%
Health Care 0.05% 8.62% - - - - 0.09% - 8.76%
Industrials - 13.10% - - - - 0.23% - 13.33%
Basic Materials - 3.72% - - - - 0.04% - 3.75%
Cash and Equivalents - - - - - - - 8.66% 8.66%
Non-Classified - 0.04% - - - - 1.31% - 1.35%

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.

Identification Codes

Sedol Code 0702276
Mex Code PUPMI
Isin Code GB0007022766
Citi Code PS26

Fund Charges

Annual Management Charge (AMC) 0.75%
Further Costs 0.06%
Yearly Total 0.81%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G PP International Equity Fund - the underlying fund. Underlying Fund Objective: The fund invests, primarily via other M&G funds, in the shares of overseas companies. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management. Performance Objective: To outperform the internal composite benchmark by 1.0% a year (before charges) on a rolling three year basis.
Benchmark Internal composite benchmark, asset allocation set by the M&G Treasury & Investment Office (T&IO).
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.